Filipino politician Ferdinand 'Bongbong' Marcos Jr. secures controversial victory in the Philippines' presidential election.
In the Philippines, the new administration led by President Ferdinand "Bongbong" Marcos Jr. is poised to make significant changes in the gaming industry, particularly the offshore sector.
Marcos Jr., who was declared the winner of the presidential election in May 2022, has taken a firm stance on offshore gaming activities. Through Executive Order No. 74, issued on November 5, 2024, an immediate ban on Philippine offshore gaming, internet gaming, and other offshore gaming operations has been enforced, citing national security concerns and other unspecified reasons.
This ban has a direct impact on the iGaming sector, which had been growing rapidly under the Philippine Amusement and Gaming Corporation (PAGCOR), the government agency responsible for regulating gambling activities. With the president's directive to cease licensing and operation of offshore gaming, PAGCOR's role is significantly altered, marking a major policy shift that reduces the Philippines' role in the global offshore gaming market.
However, the legality of traditional gambling activities like cockfighting remains a grey area under Marcos Jr.'s administration. While cockfighting is regulated under local laws, no explicit legislative or executive moves have been documented in 2024–2025 during his term.
The new administration will also face challenges related to the gaming industry due to the ongoing COVID-19 pandemic. Legal iGaming operated by Manila integrated resorts will need careful consideration due to travel and business restrictions. Furthermore, the administration will need to decide whether to continue temporary gaming expansions in response to the pandemic.
Marcos Jr.'s presidency has been met with mixed reactions, with some concerned that it could lead to another dictatorship in the Philippines, given his father's controversial rule from 1965 to 1986. However, Marcos Jr. has consistently pleaded for people to judge him on his own actions, not those of his ancestors.
In the political arena, Marcos Jr. easily won the election with more than double the votes of his nearest rival, while Sara Duterte, Davao City's mayor, won the vice presidency in a separate election. Manny Pacquiao, a boxing legend and Senator in the Philippines, ran for president but received only 4% of the vote.
As Marcos Jr.'s presidency unfolds, the future of the gaming industry in the Philippines will likely undergo transformation, reshaping the iGaming industry's landscape and potentially impacting jobs, revenues, and foreign investments linked to these sectors. The legality of cockfighting, which was halted this month, will need to be formally addressed by the new administration.
Read also:
- Massive 8.8 earthquake hits off the coast of Russia's Kamchatka Peninsula, prompting Japan to issue a tsunami alert.
- Court petitions to reverse established decision on same-sex marriage legalization
- Proposed Standardization of Food Labeling Laws Among Member States by the Commission
- Current News: AfD Achieves 26% - Union Dips to Laschet's Level
