Gambling Welcome Now In Philippines Says President

Reports from the region state that the president recognises the need to boost state coffers after 18 months of dwindling revenues because of the huge impact the COVID-19 pandemic has had on the country.

Philippines needs to raise funds desperately and it sees gambling as a way of boosting tax income so the president has said, “the most sensible thing is really just to encourage these activities.”

The country has seen a move by many operators away from the Philippines because of increase tax burdens but that could change in order to encourage a return. Many of the online operators in the country offer online gambling to Chinese gamblers and the latest comments from Duterts could anger the Chinese government as they increase their fight against operators offering online gambling in their country.

However the comments from the Philippine president help boost all gambling stock with online gambling operator PhilWeb rising 7.5% and land based operators such as Bloomberry Resorts Corp who operate the Solaire Resort & Casino rising 6.5% in Wednesday trading.