PAGCOR reports income drop after e-wallet delinking from gambling

PAGCOR also announced the upcoming launch of an artificial intelligence-powered tool designed to detect illegal gambling websites in real time. (Pexels Photo)

By Wilnard Bacelonia, Philippine News Agency

MANILA – The Philippine Amusement and Gaming Corporation’s (PAGCOR) income dropped 40 to 50 percent following the removal of gambling payment links from major e-wallet providers.

During the Senate Committee on Games and Amusement hearing on Tuesday, PAGCOR Assistant Vice President Jessa Mariz Fernandez said the drop was recorded in the first two weeks after e-wallet platforms such as GCash and PayMaya cut their connections to online gambling transactions.

“This is based on the data from our accounting and Electronic Gaming Licensing Department,” Fernandez said, noting that the delinking measure had an immediate impact on revenues.

PAGCOR also announced the upcoming launch of an artificial intelligence-powered tool designed to detect illegal gambling websites in real time.

Fernandez said the tool, which would coordinate with the Cybercrime Investigation and Coordinating Center (CICC), National Telecommunications Commission (NTC), and Department of Information and Communications Technology (DICT), would allow quicker blocking of unlicensed operators.

When asked about its policy preference, PAGCOR reiterated its support for the strict regulation of online gambling rather than a total ban.

“Our position is for strict regulation of the industry,” Fernandez told lawmakers.

The Bangko Sentral ng Pilipinas (BSP) said it would defer to Congress on whether to impose a ban or strengthen regulation.

BSP Deputy Governor Mamerto Tangonan committed to submitting a position paper outlining the advantages and drawbacks of both approaches.

Committee chair Senator Erwin Tulfo said the committee would continue to assess the social and economic implications of online gambling as part of its review of pending legislation.

The Senate is deliberating several measures on online gambling, including bills filed by Senators Pia and Alan Cayetano, Joel Villanueva, Juan Miguel Zubiri, Loren Legarda, Christopher Go, and Raffy Tulfo that seek to prohibit such activities altogether.

Other measures, such as those by Senators Sherwin Gatchalian and Risa Hontiveros, propose regulation and harm-reduction mechanisms, including levies to mitigate gambling addiction.

A resolution by Senator JV Ejercito also calls for stricter regulation to curb the spread of online gambling and lending.