CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

Duterte orders closure of all online gambling firms

Duterte orders closure of all online gambling firms

By Tom Lewis

Philippine President Rodrigo Duterte has reversed a stance on online gambling that appeared to have softened in recent months, reverting to type on Thursday in demanding the closure of all online gambling firms. 

Giving a speech after signing the 2017 national budget, Duterte announced that he is “ordering the closure of all online gambling [firms]... All of them. They have no use.” 

Duterte said that the government had no mechanism to effectively regulate the online industry in the country. 

Although the President did not elaborate further on the statement, his Justice Secretary, Vitaliano Aguire II told Inquirer.net that “the closure order was meant for all online gambling firms”. 

The share prices of Philippine operators dropped following the announcement, with shares in Philweb declining 30%, while Leisure and Resorts World shares fell by 20%. 

Duterte pledged to crack down on online gambling operators in his first cabinet meeting after assuming office on 30 June, which saw regulator PAGCOR freeze the processing and issuance of online gambling license applications and operator Philweb close the doors of its 286 e-games cafes. 

However, the government’s stance appeared to soften in the weeks that followed, an offering of 25 offshore gaming licenses made available by PAGCOR in September receiving 76 expressions of interest. 

Duterte’s latest pronouncement will come as a fresh blow to the i-gaming industry in the country, with a complete shutdown likely to shave more than PHP10bn ($200m) from PAGCOR’s annual revenues.

https://www.gamblinginsider.com/news/2790/duterte-orders-closure-of-all-online-gambling-firms

MORE NEWS

Tax authorities mount raids on 19 German banks and homes

Tax authorities mount raids on 19 German banks and homes
Tax authorities mount raids on 19 German banks and homes.  Investigation is linked to Panama Papers and part of money laundering ...

Subpoenas issued for six years of Donald Trump tax returns

Subpoenas issued for six years of Donald Trump tax returns
The chairman of a US Congressional committee has issued subpoenas for President Donald Trump's tax returns. Richard Neal said in a ...

Calls for mandatory tax on gambling industry to treat addiction in UK

Calls for mandatory tax on gambling industry to treat addiction in UK
Overhaul of laws needed, with onus on industry to reduce problem gambling, says BMJ paperGambling laws should be radically overhauled, ...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA