Philippines gambling regulatory body said it will revoke the licenses of offshore gambling firms and work with law enforcement agencies to implement President Ferdinand Marcos Jr's order to completely ban gambling. reported the Philippine News Agency (PNA).
The Philippine president said yesterday that he was banning Philippine offshore gambling operators and ordered the regulator to impose a total ban on them by the end of the year.
The chairman of the state gambling regulatory body, Alejandro Tenko, stressed that the challenge for law enforcement agencies is to prevent these businesses from going underground, adding that the government loses about $400 million in license fees and annual taxes from licensed gambling businesses. .
There are 42 licensed offshore gambling companies in the country, employing about 40,000 Filipinos, and as of the end of last year, nearly 23,000 foreigners worked in the industry.
The Ministry of Justice also expressed its full support for a complete ban on gambling in the country. It, along with other government agencies, is leading the way in scrutinizing offshore gambling firms, which have become hotspots for human trafficking, money laundering and cross-border organized crime.