The Philippine leader, President Ferdinand Marcos Jr (pictured in a file photo), is said to be reviewing calls for a total ban on the online gambling sector in the country, according to remarks on Wednesday by undersecretary of the Presidential Communications Office, Claire Castro. She said the President was carefully weighing the potential economic and social impacts of such a move.
“Decisions like this are thoroughly studied to assess their impact on the economy and the public,” Ms Castro stated in a press briefing, as quoted by the Manila Standard newspaper.
She added: “We cannot rush into it. Sometimes, banning legal and licensed online gaming sites results in a rise in illegal platforms, which could affect the economy even more.”
There were reports earlier this month that President Marcos was open to the Department of Finance’s proposal to impose additional taxes on the country’s online gaming industry.
Since a crackdown last year on the formerly Pagcor-licensed Philippine Offshore Gaming Operator (POGO) sector aimed at overseas customers, the country’s online sector has been licensed to serve specifically the domestic market.
The Department of Finance announced in early July that it was mulling a tax for the online gaming sector in the country, as well as the possibility of introducing stricter policies regarding access to digital gambling platforms.
The country’s central bank, the Bangko Sentral ng Pilipinas (BSP), has meanwhile issued a draft circular aiming to introduce stricter rules. It seeks to limit the use of electronic wallets (e-wallets) and other digital payment platforms for online gambling.
The position taken by the authorities comes amid a growing chorus of voices in the Philippines calling for changes to the online gaming sector, ranging from tighter restrictions on access to digital gambling platforms, to additional taxes, and a ban on the use of e-wallets for gambling purposes. There have even been calls for a complete ban by a number of senators.
The head of the Philippine Amusement and Gaming Corp (Pagcor), Alejandro Tengco, suggested last week that the answer to concerns about online gambling within the country was tighter control, not a total ban.
The respective operators of three of the largest casino resorts in the Philippines issued a joint statement this week saying they operate with the highest standards of integrity and transparency, and in compliance with the country’s laws and regulations. The three casino firms also run online gaming operations, including remote gambling and digital gaming platforms.
