Lawmakers in the Philippines have been flip-flopping on gambling regulations over the past year. Towards the beginning of 2019, revenue was soaring here. Then, things began to slow down. Fortunately, the Philippines’ gambling revenue surged during the year’s third quarter.
It’s fantastic news for the government and gambling operators in the country.
Now is a fantastic time to look at some of the changes to gambling regulations here, and talk about how they could change. Let’s get into it!
Gambling Regulations Continue to Change in the Philippines
Today, the Philippines is considered by many to have one of the most lucrative gambling markets in the world. Here, land-based gambling is extremely popular. PAGCOR, a branch of the government, regulates the gambling industry in the Philippines.
At the beginning of the year, gambling revenue began to surge in the Philippines. There are many casinos located around the country popular with both foreigners and locals. The Philippines is also home to a huge number of electronic gambling machines that help to generate a huge amount of money every single month.
For several reasons, the government isn’t as lenient on the online gambling industry. PAGCOR does offer licenses to internet gambling companies. Interestingly, these companies are not allowed to offer services to Filipino players.
These companies, called POGOS, are only allowed to provide their gambling options to nationals in foreign countries. The government earns a piece of their revenue.
The government has begun to increase regulations on these companies. Officials want to ensure that they are paying taxes.
Despite pressure from China, however, they continue to operate.
Philippines’ Gambling Revenue Increased in Q3
Not many predicted that the Philippines would become such a profitable gambling market. For most of the year, gambling revenue has increased here. New reports indicate that 2019’s third quarter saw a major increase in revenue.
Revenue from private casinos in the Philippines increased by 25% during Q3. These figures come from the Philippines Amusement and Gaming Corporation. The government body states that industry-wide gambling revenue reached PHP63.4b (US$1.24b) in the three months of quarter three.
This represents more than 30% more revenue than in the same quarter in 2018. Land-based revenue increased by 20.8%. Junket operations for the country’s private casinos increased by 50%.
It’s fantastic news to see revenue from the country’s gambling market increase. Lawmakers here are clearly happy to see the money keep flowing in.
The Philippines Increases Taxes for POGOs
Government officials in the Philippines have been dealing with serious pressure to ramp up regulations on the gambling industry. China, in particular, feels that it’s time for the Philippines to shut down its online gambling market. These requests are being brushed off.
Chinese President Xi Jinping even personally contacted Rodrigo Duterte and asked Duerte to close off the country’s POGOs. Jinping believes that many of these online gambling companies are actively targeting Chinese nationals. Mainland China bans all forms of gambling.
With the Philippines’ gambling revenue increasing, it’s unlikely that the government will ever ban online gambling operators. They are, however, increasing taxes for these companies.
There’s a chance that PAGCOR will begin allowing more land-based casinos to open in the country. The government will want to earn as much money as possible from this industry.
The Philippines’ gambling revenue continues to surge. Let us know how long you think this will continue in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
The information found on Gamblingsites.org is for entertainment purposes only. It is a purely informational website that does not accept wagers of any kind. Although certain pages within Gamblingsites.org feature or promote other online websites where users are able to place wagers, we encourage all visitors to confirm the wagering and/or gambling regulations that are applicable in their local jurisdiction (as gambling laws may vary in different states, countries and provinces).
Gamblingsites.org uses affiliates links from some of the sportsbooks/casinos it promotes and reviews, and we may receive compensation from those particular sportsbooks/casinos in certain circumstances. Gamblingsites.org does not promote or endorse any form of wagering or gambling to users under the age of 18. If you believe you have a gambling problem, please visit BeGambleAware or GAMCARE for information and help.