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PAGCOR REVENUES DROP AS E-WALLETS CUT GAMBLING LINKS

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a 40% to 50% decline in revenues after e-wallet platforms severed payment links for online gambling transactions. PAGCOR said the decrease was felt within the first two weeks of implementation.

In response, the agency announced the rollout of an artificial intelligence-powered tool to detect and block illegal gambling websites, in coordination with the Cybercrime Investigation and Coordinating Center (CICC), National Telecommunications Commission (NTC), and Department of Information and Communications Technology (DICT).

During a Senate Committee on Games and Amusement hearing, PAGCOR maintained that strict regulation is more effective than a total ban on online gambling. The Bangko Sentral ng Pilipinas (BSP) noted that the decision to impose a ban or tighter regulation ultimately rests with Congress and said it would submit a position paper on the matter.

The Senate is currently deliberating measures seeking either the prohibition or regulation of online gambling, with various senators pushing for harm-reduction mechanisms, stricter oversight, or outright prohibition.

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