According to the "Inquirer", the Philippine government is considering requiring all licensed online gambling operators to list on the Philippine Stock Exchange (PSE) to enhance industry transparency and accountability mechanisms. Finance Minister Ralph Recto stated that mandatory listing would help reveal the identities of actual controllers of companies and strengthen regulation through financial disclosures and other means.
Under current regulations, PSE-listed companies must disclose financial data and equity structures, subject to stricter supervision. The new proposal also includes tax reforms, expected to impose higher taxes on the industry, with an anticipated annual revenue increase of 10 billion pesos (approximately 170 million US dollars). Currently, online gambling operators are required to pay a 30% revenue tax to PAGCOR, a 5% franchise tax to the Bureau of Internal Revenue, and related audit fees.
Amid tightening regulations, reactions from companies in the industry vary. DigiPlus Interactive Corp, which owns brands such as BingoPlus and ArenaPlus, has expressed support, noting that the company has implemented KYC verification, age restrictions, and behavior tracking. However, the company's stock price has recently plummeted nearly 30%, with its market value shrinking by 70% since its peak in June.
Bloomberry Resorts Corp, which recently launched the new platform MegaFUNalo, has also been affected, with its stock price falling 5.6%. Analysts point out that investors are concerned about policy uncertainty and regulatory pressure.
This reform coincides with the central bank's policy of restricting gambling e-wallet transactions and continues the trend of online gambling legislative regulation promoted by Senator Zhang Qiaowei, showing that the Philippines is moving towards a stricter and more transparent gambling governance system.
