The intensification of action within the Philippines gaming market doesn’t signal a stance against gambling, but instead a focus on eradicating bad actors.
Market developments in the Philippines have been a key focus in recent months as the political landscape and agenda evolves at a rapid rate.
Speaking at the SBC Summit in Lisbon, Rory Anderson of 12Bet hosted a detailed discussion around the market, sharing his belief that there are real lessons that can be learnt from the region.
According to Anderson, operators should take note that they will largely be judged by the worst actors in the market.
Mark Robinson, the Commercial Director of Yolo Entertainment, echoed this sentiment that the Industry is being judged by the ones flouting the rules in the worst possible way.
Joe Pisano, Founder and CEO, JADE Entertainment and Gaming, also emphasised that he believes the Philippines is on a trajectory of economic growth, and remains a strong place for investment.
The latest bill from the Philippines highlights the desires of the market to move ahead at an efficient speed when it comes to regulation.
Most recently, the country’s President, Marcos, stepped up efforts to clean the market through enhanced action against POGOs and moved to implement a full ban on gaming operators. The Philippines has long held a goal to clamp down on offshore gambling and clean up its local market.
Speaking at his state of the nation address, Marcos said: “Disguising as legitimate entities, their operations have ventured into elicit areas beyond gaming, such as financial scamming, money laundering, prostitution, human trafficking, kidnapping, brutal torture – even murder.
“The grave abuse and disrespect to our system of laws must stop. It is necessary to stop this disturbance in our society, and the desecration of our country.”
Marcos underlined his belief that the outlawing of POGOs can have a significant impact when it comes to solving the country’s problems, as he added that ‘citizenry must always be vigilant, principled, and think of the health of the nation’.
Marie Antonette “Tonet” Quiogue, Principal at Arden Consult, explained that the president has the power to revoke as well as the power to legitimise, with the industry’s fate very much in the hands of Marcos.
However, she added that there are positive signs for the future of Filipino online gambling , as the country’s Congress is processing a bill to regulate and define what forms of online gambling may be allowed – potentially opening up the market.
Furthermore, she emphasised that the gaming industry is very much one worth saving from an economic perspective, due to it supporting thousands of jobs.
Developments in the Philippines arrive at a time when the overall market landscape in Asia is changing at a rapid rate.
Quiogue stated that as forecasts show a myriad of markets set to open up across Asia, operators still view the Philippines as an entry point for regional expansion.
Pisano pinpointed Malaysia as a market that may well open up in the coming years, alongside Thailand and Japan, which have both laid out plans for land-based casinos.
The new Prime Minister of Thailand, Paetongtarn Shinawatra, recently expressed support for the sector’s growth as a vital tool to boost the country’s casino ambitions, with local media reporting that she is set to commence plans on seven projects.
Shinawatra took a significant step in the early days of her premiership as she set out her policy statement in which she pinpointed a key focus on the growth of the national entertainment and tourism industries.
As other regulatory frameworks open, Keith McDonnell, Director at KMI Group, emphasised that there are likely to be a number of regions around the world that could benefit from what’s happening in the Philippines, as he encouraged PAGCOR to act swiftly to ensure maximum retention of companies and people in the country.
He also cited India, LatAm, Africa and a host of international markets that are likely to be targeted by many operator brands due to the continued scrutiny by Chinese authorities, making that market more difficult.
