Philippines’ gambling revenue hits record $7.16B in 2024
The Philippines hit a record in 2024, reporting PHP410 billion ($7.16 billion) in gross gambling revenue (GGR), marking a 24.6% increase when compared to 2023.According...
Philippines to enforce total POGO shutdown by the year-end
The newly appointed Interior Secretary, Jonvic Remulla, will ensure the complete shutdown of all Philippine Offshore Gaming Operators (POGOs) by the end of the year.
After the Philippines president’s order to shut down all POGOs in the country, the new Interior Secretary plans to start the process by closing the POGOs that operate at Island Cove, Cavite. This property was once owned by Ramulla’s family, and this decision shows his commitment to his work.
Jonvic Remulla commented:
“That will be the first one to be closed to show proof of sincerity that I will start with my province and make sure that it’s closed.”
According to Remulla, it doesn’t matter whether the operators are Filipino or Chinese. The closure refers to all of them. All POGOs at Island Cove, Cavit, will be completely closed by December 15, 2024, and by December 31, there will be no region with POGOs.
This decision may also help the Philippines exit the FATF Grey List.
Gambling sector in the Philippines
The Philippines, officially the Republic of the Philippines, is an archipelagic country in Southeast Asia that has around 50 casinos. Last month, the country discussed the potential of reducing gaming license fees and decided to start it in January 2025.
FAQs
Is gambling legal in the Philippines?
Gambling is legal in the Philippines and regulated by the Philippine Amusement and Gaming Corporation (PAGCOR) and other local authorities.
What is the legal gambling age in the Philippines?
The legal gambling age in the Philippines is 21 years old for casino gambling and 18 years old for lotteries and other forms of betting.
Philippines’ Central Bank to restrict gambling transactions
The central bank of the Philippines, the Bangko Sentral ng Pilipinas (BSP), has introduced new policy recommendations that could limit gambling-related services in the...
