Good Morning. Regulate first. In an interview with AGB, Philippines Senator Sherwin Gatchalian stated that he opposed a total ban on online gambling, instead advocating for stricter regulations to protect youth and address moral concerns, while also calling for the establishment of a new, independent regulatory body to oversee the industry. Meanwhile, Ernst & Young (EY) is being accused of knowingly enabling fraud, misleading regulators, and ignoring links between its clients and organized crime connected to former Macau junket groups. Also, Thailand has officially recognized poker as a sport, in a move that could open the door to new revenue streams from international tournaments and sports tourism.
What you need to know
- Senator Gatchalian rejects a total online gambling ban, urging strict regulation to protect youth and address moral and economic risks.
- Ernst & Young (EY) is facing allegations of ignored links between its clients and organized crime connected to former Macau junket groups.
- Thailand officially recognized poker as a sport, opening the door to new revenue streams from international tournaments and sports tourism.
On the radar
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- Bloomberry’s Razon takes top spot among Philippine billionaires.
- Hong Kong-listed Shin Hwa World to raise up $23.4M through rights issue.
- Lotto NZ can’t block Maltese operator offering Powerball clone.
AGB Intelligence
PHILIPPINES
Senator favors regulation over prohibition in online gambling debate
Philippines Senator Sherwin Gatchalian has rejected a total ban on online gambling, arguing that it would push the industry underground and complicate regulation. Instead, he advocates for stricter regulations to protect vulnerable groups, particularly youth, from the moral and economic repercussions of online gambling. In an interview with AGB, Gatchalian cited the failure of China’s strict internet policies as a cautionary tale. He has proposed legislation to raise the legal gambling age to 21, enhance KYC procedures, enforce minimum betting thresholds, and sever digital wallets from gambling platforms.
Corporate Spotlight
Why Asia’s iGaming operators must rethink risk strategy | SEON
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
Industry Updates
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