Latest news with #KeithFlores
GMA Network
4 hours ago
- Business
- GMA Network
PAGCOR duty-bound to follow laws on online gambling
The Philippine Amusement and Gaming Corporation (PAGCOR) on Friday welcomed proposed measures seeking to put stricter regulations on online gambling. 'It is the prerogative of our lawmakers to propose laws which they think will be beneficial to the public,' PAGCOR said in a statement. 'PAGCOR is duty-bound to follow any and all relevant regulations once they are passed by Congress and signed into law by the President,' the state-run gaming firm added. The gaming industry regulator issued the statement after several lawmakers filed bills banning the promotion of online gambling and its linkage to electronic wallets (e-wallets). In particular, Bukidnon Reps. Keith Flores, Jose Alba, Audrey Zubiri, Laarni Roque and Arlyn Ayon made the proposal under their House Bill 721 or the Anti-Online Gambling Promotions in E-Wallet Act. Senator Sherwin Gatchalian also filed a bill that would prohibit the use of e-wallet for online gambling, increase the online gambling age restriction from 18 to 21, as well put a minimum bet of P10,000 and top-up of P5,000. 'In the meantime, rest assured that PAGCOR remains fully committed to intensifying its efforts in the ongoing battle against the proliferation of illegal online gaming activities, together with like-minded agencies and organizations and with the support of all gaming industry stakeholders,' the gaming industry regulator said. The country's gaming industry saw its total revenues grow to P104.12 billion in the first quarter of 2025, up 27.44% year-on-year, driven for the first time by the growing popularity of electronic games among Filipinos. PAGCOR reported earlier that e-games and e-bingo became the gaming industry's top revenue driver for the first time, accounting for P51.39 billion or 49.36% of the total; outpacing licensed casinos which contributed P49.28 billion or 47.32%. —LDF, GMA Integrated News
GMA Network
a day ago
- Politics
- GMA Network
Lawmakers eye ban on online gambling promotions, linkage to e-wallets
A bill banning the promotion of online gambling and its linkage to electronic wallets (e-wallets) has been filed in the House of Representatives. Bukidnon Reps. Keith Flores, Jose Alba, Audrey Zubiri, Laarni Roque and Arlyn Ayon made the proposal under their House Bill 721 or the Anti-Online Gambling Promotions in E-Wallet Act. Under the bill, the following acts of operators of e-wallet mobile applications are deemed illegal: redirecting users to any online gambling platform, website, or application through links, QR codes, or similar digital means distributing information online on the placing, receiving, or transmitting of a bet or wager through any online gambling website, platform, or application displaying, publishing, or hosting online gambling advertisements within their applications or user interfaces promoting gambling activities online to the general public Any operator, natural or juridical, of an e-wallet platform or similar digital payment application found to have violated the proposed law will be fined P100,000 to P500,000 and will be given a warning for the first offense. The penalty for the second offense is pegged at P500,000 to P1 million on top of suspension of operations for 30 days at maximum. For the third and subsequent offenses, the fine is P1 million to P5 million and permanent revocation of the business license. If the offender is a foreigner, the person will be deported immediately after payment of fines without further proceedings by the Bureau of Immigration. "All four of Bukidnon's representatives in Congress are united on making sure gambling operations go back to onsite operations only and without linkages to e-wallets," Flores said in a statement. 'Alongside financial inclusion and the ease of transactions, a troubling social and cultural trend has emerged: e-wallets have become gateways to gambling by providing direct access to digital casinos and sports betting platforms. Economically vulnerable Filipinos are lured into gambling activities that may lead to financial ruin and social harm,' the authors added in their explanatory note. The lawmakers said that the e-wallets' service of providing loans is also being used by gamblers to continue betting, creating a vicious cycle of debt and dependency. 'Online gambling is a moral, financial, and public health concern. Without proper safeguards, e-wallets risk becoming traps for vulnerable Filipinos. Thus, this bill aims to ensure responsibility and accountability among e-wallet platforms to prevent their exploitation in promoting gambling-related activities and behaviors,' the lawmakers said.—LDF, GMA Integrated News
