The Philippine government is exploring a new measure that would require licensed online gambling operators to list on the Philippine Stock Exchange (PSE). The proposal aims to increase transparency, accountability, and regulatory oversight in the fast-growing industry, according to The Inquirer.
Public Listing for Transparency
Finance Secretary Ralph Recto said that publicly listing gambling operators could help reveal the real owners behind these platforms. Under PSE rules, listed companies must regularly disclose their financial performance and ownership structures—giving regulators and the public a clearer view of how they operate.
“If they are listed, the public and regulators will know who is behind them,” Recto explained. The plan, if implemented, would allow authorities to monitor these companies more closely and reduce the risk of money laundering or illicit activity.
Higher Taxes Also on the Table
In addition to stock exchange listing, the government is also considering raising taxes and fees for online gambling operators. Recto said a 10% increase in levies could generate an extra PHP10 billion ($170 million) annually.
At present, operators must pay a 30% license fee to PAGCOR, a 5% franchise tax to the Bureau of Internal Revenue, and audit-related charges. These proposed tax hikes would significantly increase their fiscal burden.
Industry Reaction and Investor Concerns
DigiPlus Interactive Corp.—operator of BingoPlus, ArenaPlus, and GameZone—has voiced support for responsible regulation. The company already applies know-your-customer (KYC) protocols, age checks, and monitors player behavior.
Still, market reaction has been negative. DigiPlus recently recorded a one-day stock drop of nearly 30%, and has lost about 70% of its value since June. Similarly, Bloomberry Resorts Corp., which launched the MegaFUNalo platform, saw a 5.6% dip in its share price amid growing regulatory uncertainty.
The proposed measures follow a Senate bill introduced by Sherwin Gatchalian and align with the central bank’s effort to limit the use of e-wallets for gambling purposes. If passed, these changes could reshape the future of online gambling in the Philippines.
