Philippine Government Pulls 124 Online Gambling Licenses
Nearly a 125 Filipino online gambling operators have had their licenses revoked by the Philippine Amusement and Gambling Corp (PAGOR) at the behest of President Rodrigo Duterte. It’s all part of what could be the end of regulated online gambling in the Philippines.
The 124 companies impacted by the move had all violated the terms of their licenses, according to PAGCOR boss Andrea Domingo. But the unfortunate 124 are just the tip of the iceberg for the Philippine-based online gambling industry.
PAGCOR is spearheading an effort to eradicate online gambling in the Philippines that comes straight from the top, President Duterte. The next move in that effort involves more than 600 licensed operators whose licenses will not be renewed.
PAGCOR has also announced that no new licenses will be issued for online gambling operators of any kind.
Duterte, who was swept into office on a law and order platform, has made clear his view that online gambling is a threat to the people of the Philippines. This is not a threat that anyone in the online gambling is taking lightly, as Duterte is famous in the Philippines for using any means necessary to enforce his vision of civil order.
Not surprisingly, Duterte’s anti-gambling fervor is likely to have a significant, negative impact, on the economy of the Philippines.
According to estimates published recently on CalvinAyre.com, the end of online gambling in the island country could cost as much as $191 million (USD) in lost tax revenues.
Regardless of the cost, Duterte seems dead set on sinking internet gambling in his country once and for all.