Online Gambling For Philippine Locals Considered
Could the Philippines be readying to allow locals to play online gambling? Reports locally suggest gambling regulator the Philippine Amusement and Gaming Corp. (PAGCOR) are preparing a report to the government on such a possibility.
The Philippines has seen revenues from both land based casino revenues fall off a cliff since the COVID-19 pandemic began with a 95% drop. Indeed in the second quarter of this year total revenues from casinos stood at $47 million.
Online gambling revenues are also half what they were with income from the country’s Philippine Offshore Gambling Operators (POGOs) at just $6 million a month. Also thirty three of the sixty licensed POGOs have already left the region and the regulator believes revenues will not recover anytime soon.
PAGCOR regulates and raises taxes through gambling to serve the government with funds for national building projects, with revenues falling the idea inside PAGCOR according to reports is that the only way to revive revenues is to allow locals to play online and in casinos.
No official word has come from either the regulator or government but some suppliers for the online industry already believe the opportunity is there and are readying for when that time comes.
