‘Go Ahead and Gamble’ Philippine President Duterte Says
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Duterte's office has issued a proclamation on July 7 that encourages online gambling. Bloomberg reports that gaming stocks have risen since the proclamation. The President wants to boost his country's coffers amid the COVID-19 pandemic. He said his nation was running out of money because of COVI-20.
Duterte admits he was previously anti-online gambling. He even had a no-casino policy in Boracay and Bohol. In late May, there was a spike in the rise of new variant COVID-19 cases in Southeast Asia. All Metro Manila casinos were ordered to close until June 15, and the General Community Quarantine Restrictions were extended until July 15.
The Philippine Amusement and Gaming Corporation (PAGCOR) approved applications from City of Dreams Manila, Okada Manila and Resorts World Manila to introduce online gambling. The government and casino operators are looking for additional income streams. In March/early April 2020, PAGCOR reported it was losing $118m of potential revenue monthly as a result of the country’s gambling properties being shuttered.
PAGCOR allows integrated resorts to take bets online in Manila.
