PHILIPPINE financial regulators are eyeing an increase in license fees for online gambling companies, as officials study stricter regulations from the industry after being flagged by the Department of Health (DOH) as a “public health concern.”
According to Finance Secretary Ralph Recto, the government is looking to increase revenues from the industry, as integrated resorts also involved in online games are now charged 25% of their gross gaming revenues (GGR).
“Pwede gawing 30 [percent], pwede gawing 35 [percent], pwede gawing 40 [percent],” he told reporters at the sidelines of the Post-SONA Discussions in San Juan City.
“We’re studying that because if it’s too high, baka naman lalo lumago din ‘yung illegal, so we’re studying that with PAGCOR (Philippine Amusement and Gaming Corporation),” he added.
This comes as the DOH has flagged online gambling as a health issue, with President Ferdinand “Bongbong” Marcos Jr. saying he will study calls to ban the industry.
A number of lawmakers have pushed for a ban given worries that addiction is soaring, with more gamblers drawn to online platforms, even further accelerated by advertisements on social media and e-wallet platforms.
“I am not in favor of gambling, okay? I have never gambled. Hindi ako mahilig. Dapat ‘yung mga kababayan din natin. My advice: do not gamble. Having said that, if people gamble, we’d rather regulate it than they go to illegal (gambling),” Recto said yesterday.
At present, Recto said his understanding is that 60% of operations are illegal, while only 40% is legal. From those above board, the DOF is looking to raise P200 billion in revenues this year — P100 billion from brick and mortar, and P100 billion from online.
Recto also said “everything is on the table” when it comes to proposals, such as limiting the time of users to cash in, as well as limiting the access of online gambling sites to e-wallets.
“I’m open to all of that, but we will consult with PAGCOR also kasi sila ‘yung marami dito. It’s their constituency to a certain degree. Mas alam nila,” he said.
For their part, licensed online gambling operators said they are standing united with PAGCOR to call for stronger regulation and not a total ban, as they warned that Filipinos might shift to unregulated sites on the black market. (GMA Integrated News)
