PAGCOR reported lower online gambling revenue in the Philippines in August, the first month after e-wallet payments were blocked. Assistant vice-president Jessa Fernandez said the prohibition and an initial minimum deposit reduced income opportunities and led some customers to stop using licensed operators.
The restrictions may reduce licensed operators’ reach and income opportunities in the Philippines.
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Macau recorded MOP21.89bn (€2.33bn) in gaming revenue during August. Revenue fell 1% compared with the same month a year earlier.
Reportedly, J. P. Morgan analyst Daniel Politzer reviewed gaming stocks on 8 September. Stocks in the bank’s gaming coverage fell an average of 7% in August, compared with a 3% gain for the Standard & Poor 500, recording their weakest August since 2019.
Grand Korea Leisure recorded nearly KRW31.11bn in August casino sales in South Korea, citing the company’s Korea Exchange filing. Sales fell 11.3% annually and 25.4% from July. Casino drop increased 7.2% annually to nearly KRW341.40bn, while sales for the first eight months rose 5.6% to nearly KRW299.97bn.
PAGCOR said it is checking the authenticity, source and extent of an online post allegedly containing information linked to its National Database of Restricted Persons. The regulator said it has no verified evidence that the post is connected to a new unauthorised intrusion into its systems, and its assessment remains ongoing.
An online post purportedly contains information linked to the National Database of Restricted Persons, according to the Philippine Amusement and Gaming Corporation (PAGCOR). There is currently no verified evidence connecting the post to a fresh unauthorised intrusion into its systems.
Arden Consult founder and chief executive Toney Quiogue has called for the Philippines to pass a statute governing online gaming, arguing that the current framework relies largely on PAGCOR’s charter and issuances. Quiogue said legislation should define licensable activities, fees, offences and enforcement powers, including measures against illegal payment processing.
Arden Consult founder and chief executive Toney Quiogue has called for the Philippines to pass an online gaming law to reduce the risk of a sudden industry ban, in a paper on a global legal platform. Quiogue said the absence of a statute was the country's most important regulatory gap and that recent reforms could be reversed.