The national gaming regulator for the Philippines has argued that changes to laws regarding iGaming would be more appropriate than an outright ban.
Last month saw the start of a Senate debate in the Asian nation, with politicians running the rule over a series of potential options for reform, including totally banning online gambling.
The country’s gaming industry regulator, Philippine Amusement and Gaming Corporation (PAGCOR), is responsible for overseeing the sector.
Bangko Sentral ng Pilipinas (BSP) recently ordered financial technology firms to delink from gambling sites, with PAGCOR told to ensure this is happening.
Sen. Bam Aquino spoke in favour of the directive from the BSP but reiterated his position that a full ban should also be brought in by the president of the Philippines, Bongbong Marcos.
The senator has said: “What we truly need is a total ban to protect Filipino families and society from its harmful effect.”
PAGCOR: iGaming Sector Needs To Grow Safely
Speaking at the iGaming Symposium, PAGCOR’s chief executive and chairman Alejandro Tengco, said tighter regulations should be introduced for the sector.
At the event, which was organised by Light & Wonder – a leading iGaming content provider – Tengco put forward his vision for the industry in the Philippines.
In his speech, Tengco argued that the iGaming story in the Philippines is “no longer just about growth; it’s about how we grow safely, fairly, and sustainably”.
The PAGCOR executive said that a total ban on online gaming operators in the Philippines would drive players to use illegal operators instead.
As this would result in significant job losses across the country, as well as having an impact on public finances, Tengco says changes in regulation would be more appropriate.
He said: “With responsible growth, compliance, and transparency, the Philippines can develop a safer, stronger, and globally competitive iGaming industry.”
PAGCOR is a fully government-owned and controlled corporation and Tengco recently met with newly elected officials of the PAGCOR Employees’ Association, the body’s new union.
Senate Hearings On Hold
Debates over the future of iGaming in the Philippines have been put on hold for now.
This is as a result of the ongoing flood control scandal in the country, with millions of missing funds said to have been gambled in the country’s casinos.
A hearing where various anti-online gambling bills were set to be debated was cancelled this week, with PAGCOR’s chairman and CEO Tengco having been set to appear.
But in the wake of Senate President Francis ‘Chiz’ Escudero being replaced by the previous Senate Minority Leader Vicente ‘Tito’ Sotto III, further iGaming debates have been postponed.
It remains unclear when iGaming regulation changes, including a potential total ban on online gambling practices, will be back on the table in the Senate.
Record Revenues Incoming For Sector
The Philippine gaming industry is heading for another record year in 2025 according to the recent release of new PAGCOR data, which showed that the industry’s GGR shot up from US$3.75 billion in 2022 to US$6.5 billion in 2024.
During the first half of 2025, GGR has already reached US$3.8 billion and it is expected to pass the target mark of US$7 billion by the end of the year.
Commenting on the data release, Tengco said: “These numbers affirm the Philippines’ place as one of the fastest-growing and most important gaming markets in Asia.”
He added: “The unprecedented and exponential growth of online gaming truly comes with success and revenues but, for us, our responsibility is to ensure that this sector’s growth comes not just with profit but with accountability, integrity and player protection.”
PAGCOR’s recent regulation changes include banning the use of both credit cards and cryptocurrencies for gambling, creating a 24/7 helpline and setting up the new PAGCOR Guarantee Page to verify licensed platforms.