THE Bangko Sentral ng Pilipinas (BSP) draft rules to prohibit association of digital marketplaces with online casinos could dampen the growth of the booming electronic gaming sector, the Philippine Amusement and Gaming Corp. (PAGCOR) said.
“I was surprised by the proposed draft. PAGCOR was not consulted, and the BSP did not seek our opinion,” PAGCOR Chairman and CEO Alejandro H. Tengco said at a briefing on Feb. 26.
“If you’re asking me, will online gaming be affected? Yes, it will be affected,” he added.
PAGCOR reported in January that the e-games and e-bingo segments accounted for 50.03% of gaming revenue, equivalent to P48.79 billion.
The BSP released proposed guidelines prohibiting digital marketplaces from offering and presenting any products and services associated with gambling.
“Products and services that are associated with gambling activities (e.g., online casinos, online betting, electronic gaming, or other forms of gambling/gaming), or any activities that could undermine the reputation of the marketplace participants and the financial system, are prohibited to be offered or presented in the marketplace,” the BSP said.
Some of the digital marketplaces do not host online casinos or betting programs but link games that will open outside the applications.
In response to this, Mr. Tengco said: “I am going to ask the legal department to look into the matter so that without us getting any letter from the BSP, we can maybe react and give our side.” — Aubrey Rose A. Inosante