Asia
Philippines to Study the Economic Impact of Online Gambling Ban

The Philippines’ anti-money laundering body is going to study the economic impact of halting online gambling.
Benjamin Diokno, the governor of Bangko Sentral ng Pilipinas (BSP), has ordered the agency and the central bank’s financial stability team to “put some sense to this online gambling.”
“What if all of a sudden they decide to pack up and leave? What will be the impact of that on the property sector, also the food industry, the restaurants? This is part of my job as BSP governor,” Diokno said.
Philippine offshore gambling operators (POGOs), are a boon for the local economy, drawing many visitors from China who work in them, fuelling property demand and retail spending. The POGOs, which bar Filipinos from playing, contribute to national coffers through license fees. Officially, there are 60 POGOs, but critics say that hugely understates the number.
China has urged the Philippines to ban online gaming to support its crackdown on cross-border gambling, which it said foreign criminals had used to embezzle and launder funds as well as illegally recruit workers.
When Diokno was asked if he thinks online gambling firms were being used as money laundering conduits, he replied “not necessarily.”
-
Asia7 days ago
EGT Digital’s innovative developments to captivate visitors at SiGMA Asia 2025
-
Latest News7 days ago
Week 22/2025 slot games releases
-
Asia7 days ago
EGT’s Asian-themed products to make a splash at SiGMA Asia 2025
-
Latest News7 days ago
kwiff unveiled as official betting partner and Back Of Shirt sponsor of Motherwell FC for 2025/26 Season
-
Interviews4 days ago
Why crash has become big business for operators and suppliers
-
Balkans4 days ago
Evoplay partners with Palms Bet to strengthen Bulgarian presence
-
Compliance Updates4 days ago
Lukashenko Says Gambling Establishments Should Introduce Moratorium on Gaming in Debt
-
Latest News4 days ago
Veikkaus Enters into Long-term Partnership with Jokerit