There is a growing pressure on the Philippines to placate China and there is a possibility that the Government may put a ban on the online gambling sector.
The government is weighing in all the options to ban and currently understanding the financial impact of it.
Benjamin Diokno, Chairman of Anti-Money Laundering Council and Governor of National Central Bank, has announced that his team is being tasked to understand the financial impact if and when POGO or Philippines Offshore Gaming Operator sector is closed.
The efforts are being made to understand the impact on the larger picture and economy. The primary efforts are to understand the impact on Real Estate, Food Industry, and Non-Gaming Sectors, in case of a sudden call to pack up POGO.
Philippines Amusement and Gaming Corporations (PAGCOR) has already announced a moratorium on the new POGO Applications early in August. However, two applications which were pending were approved last week. At present, the Philippines has 60 POGO licenses and among them 48 are active
China has been asking the Philippines to ban online gambling. The customers of these online gambling are majorly Chinese and thousands of thousands of Mandarin-speaking Chinese Nationals are hired to serve the customers.
There are many cases where Chinese National who are being kidnapped by Loan Sharks after the Gambling debts at various Manila Casinos. This is one of the growing concerns for China.
The Philippines National Police Anti Kidnapping Group (PNP-KNG) announced intensified and stronger actions against these kidnappings.