A Bold Step Toward Gambling Reform: Philippine House Panel Votes for POGO Ban In a decisive move, the Philippine House of Representatives’ Committee on Games and Amusements has approved two critical measures, House Bill 5082 and House Resolution 1197, aiming to ban offshore gambling operators (POGOs) from operating within the country. Cracking Down on Offshore […]
A Monumental Leap in iGaming: Philippines Shatters Revenue Records In a remarkable year for the Philippines’ iGaming sector, the country witnessed its revenue skyrocket to PHP58.16 billion in 2023, marking an unprecedented milestone that nearly doubled the earnings from the previous year. This colossal 92.3% increase from 2022’s PHP30.24 billion, and an 80.4% surge past […]
Unlocking Asia’s Gaming Potential: Where to Invest in 2024 As the Asian economy rebounds with vigor, the gaming sector stands out as a beacon of growth and opportunity. With an expected expansion of 5% in 2024, the continent’s markets are ripe for investment, particularly in the dynamic field of online gaming. Let’s delve into the […]
In the relentless battle against illegal gambling, the Philippine Amusement and Gaming Corp (PAGCOR) is unveiling a strategic shift aimed at reducing the government’s share in casino revenues. With the chairman and CEO, Alejandro Tengco, at the helm, PAGCOR plans to trim the government’s take from the current 42.5% to 37.5% by March, with a […]
The Philippines faces a crucial year in financial oversight. The country is on a mission to be removed from the FATF grey list, tackling key financial challenges. Imagine a Philippines free from the constraints of increased financial scrutiny. Discover the steps the Philippines is taking to address FATF’s concerns and safeguard its financial sector. The […]
Financial Action Task Force (FATF) has once more stressed the need for the Philippines to accelerate the adoption of its action plan concerning anti-money laundering (AML) and counter-financing of terrorism (CFT). The Philippines found its name on the FATF grey list in June 2021 due to an evaluation by the Asia-Pacific Group on Money Laundering […]
The updated grey list by the Financial Action Task Force (FATF) highlights that the Philippines still has work to do in implementing its action plan, according to the FATF itself. Following its recent plenary meeting, the Financial Action Task Force (FATF) has declared that the Philippines will remain on its “grey list” of jurisdictions considered […]