PAGCOR reports 50% income fall after removal of e-wallet payment links
Philippine gambling regulator PAGCOR has reported a 40% to 50% decline in its income after the Bangko Sentral ng Pilipinas ordered the removal of gambling payment links by e-wallet providers.
During a Senate Committee on Games and Amusement hearing on Tuesday, PAGCOR’s Assistant Vice President, Jessa Mariz Fernandez, said the drop was recorded in the first two weeks of the order.
She noted that the delinking had an immediate effect on revenue and added that the data came from the regulator’s accounting and Electronic Gaming Licensing Department.
PAGCOR has also announced plans to launch an artificial intelligence-powered tool to detect illegal gambling websites in real time.
Fernandez explained the tool would coordinate with the Cybercrime Investigation and Coordinating Center, the National Telecommunications Commission, and the Department of Information and Communications Technology to block unlicensed operators.
She reiterated support for stricter regulation of gambling sites, rather than a total ban.
At the same hearing, the Philippines Central Bank Deputy Governor Mamerto Tangonan said the central bank would defer to Congress on whether to impose a ban or strengthen regulation.
Committee Chair Senator Erwin Tulfo said the committee would continue assessing the social and economic impacts of online gambling.
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Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
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