After we discuss about Malta Gaming Authority, you also need to know about the First Cagayan gaming license. It is one of the most popular gaming authorities, especially in Asia.
They also provide the services and benefits to the online casino. However, we know that not all casino players have known about this authority. Therefore, we will give you the best explanation of this gaming license in this article.
What is First Cagayan Gaming License?
For those of you who don’t know, First Cagayan, a gaming license that is under the Cagayan Economic Zone Authority or known as CEZA. CEZA itself is a reputable authority that grants online gaming licenses in the Cagayan Special Economic Zone and Freeport or CSEZFP, as a special economic zone that is located in the northeastern tip of the country.
In 1995, CEZA was founded by Republic Act no 7922. Their mission is to create a sustaining industrial, financial, commercial, and also recreational center in the region. They also make the development and regulation of online gambling in CSEZFP.
In addition, it is one of the oldest online gaming licenses in Asia that has been in operation since 2003. They are designed for the Asian market, especially China, Japan, Korea, and other Southeast Asian countries. First Cagayan gaming license allows online casinos to provide various types of casino games, such as sports betting, casino games, poker, bingo, lottery, and more.
The Transparency of First Cagayan
You must be more curious about this gaming license. Well, one of the main advantages of the First Cagayan is its transparency and credibility. As we know, they are regulated by CEZA which is a government entity that follows the laws and regulations of the Philippines.
Moreover, CEZA also ensures that all online casinos who follow the First Cagayan gaming license comply with their highest standards of fairness, security, and integrity.
They will work for auditing and doing some inspections of the online casinos. Of course, all they do is to make sure that all online casinos follow the rules and regulations of the CSEZFP.
These organizations certify First Cagayan as a reputable and trustworthy online gaming license. It is because they meet the global standards of online gaming regulation and operation. By following this authority, online casinos can enhance their reputation and credibility in the online gaming industry to attract more players and partners.
Regulatory of First Cagayan
Another benefit of First Cagayan as an online casino license, is their regulatory framework and support. It is run by the rules and regulations of the CSEZFP, which are designed to promote and protect the interests of online casinos, players, and also the public. Some of the main features of the regulatory of them are:
1. License Application and Approval Process
To follow the rules of First Cagayan gaming license, online casinos need to submit an application form. Required documents and fees also need to be attached to FCLRC.
They will review and evaluate all the applications. After that, they will check the background of the applicants. It is approved, they will give the license which is valid for 6 months, and can be renewed for another 6 months.
During this time, an online gaming needs to set up its online gaming system and infrastructure, and the technical testing and certification by an independent testing laboratory. If the online gaming passes the technical testing and certification, FCLRC will give a regular license that is valid for one year, and can be renewed annually.
2. License Fees and Taxes
First Cagayan gaming license has one of the lowest and most competitive license fees and taxes in the online gaming industry. Both of them depend on the type and number of online gaming products that the online gaming provides. The fees of this license start from $40,000 to $60,000 per year. Meanwhile, the taxes start from 2% to 5% of the gross gaming revenue.
Services of First Cagayan
Now, you already know much about the First Cagayan license. In addition to the regulatory framework and support, First Cagayan also provides online casinos with a range of services and facilities, to help them establish and grow their online gaming business in the CSEZFP and beyond. Some of the services and facilities that First Cagayan gaming license provides are:
Technical Support and Assistance
They provide online casinos with technical support and assistance, such as setting up and maintaining their online gaming system and infrastructure. They also test and certify their online gaming products, and resolve any technical issues or problems that may arise.
Legal Protection and Representation
First Cagayan gaming license provides online casinos with legal protection and representation, such as securing and enforcing their intellectual property rights, handling and settling any disputes or complaints that may arise. They also represent them in any legal proceedings or matters that may involve them.
Marketing and Promotion
Moreover, the First Cagayan gaming license provides online casinos with marketing and promotion, such as marketing and branding strategies, developing and managing their online gaming websites and platforms. They also will reach out and attract more players and partners.
Business Development and Networking
Another service of First Cagayan gaming license is to provide online casinos with business development and networking, such as identifying and exploring new and emerging online gaming markets and opportunities. They also will establish and maintain relationships with other online casinos and service providers, and participate and exhibit in online gaming events and conferences.
In conclusion, the First Cagayan gaming license is the best option for online casinos. They have a good credibility in the Asian online gaming market, especially in Southeast Asian countries.
This gaming license provides online casinos a transparent and credible online gaming license, a regulatory framework and support, and a range of services and facilities.
It can help them to achieve their online gaming expectations. And now, if you are interested in following them, you can contact FCLRC or visit their website for more information.