MANILA, Philippines —The Philippine Amusement and Gaming Corporation (Pagcor) admitted Tuesday that its revenues from online gambling operations dropped sharply after major e-wallets GCash and Maya removed access to gaming platforms.
During a Senate hearing, Senator Erwin Tulfo inquired whether the delisting of gambling links from the popular digital wallets had reduced activity in the industry. He noted receiving reports that online betting slowed down since the move.
Pagcor Assistant Vice President for Legal Affairs Jessa Mariz Fernandez confirmed the observation, saying the regulator’s monitoring showed a 40 to 50 percent decline in revenues within two weeks of the e-wallets’ withdrawal. She explained that the data came from Pagcor’s accounting office and its Electronic Gaming Licensing Department.
Fernandez said that the agency is not pushing to ban online gambling as Pagcor believes that strict regulation would be an effective approach.
She pointed out that banning online gambling would not only strip the government of significant revenue but could also drive gambling underground, where it would be harder to monitor and control.
Fernandez recalled Chairman Alejandro Tengco’s earlier remarks that regulation allows the state to safeguard both players and the public interest. By keeping the industry above board, she said, Pagcor can impose standards to prevent abuses, ensure responsible gambling, and collect revenues that can be channeled to social programs.
