As sector grows, industry warns that tightening of Philippines eGames regulations threatens to remove all incentives for operators to remain licensed
Summary
Industry figures at the IAG Academy Summit warned that recent regulatory moves in the Philippines — notably the central bank’s order blocking e-wallet links to gambling sites and PAGCOR’s ban on billboard advertising — risk reversing gains made in bringing online gambling into the legal, taxed market.
Casino Plus CEO Evan Spytma said blocking popular payment platforms such as GCash and Maya removes the main commercial incentive for many operators to remain licensed, and could drive players back to illegal sites that are harder to police. He argued the wallets had layered KYC safeguards that helped protect players on licensed sites.
The piece contrasts RNG-driven pure iGaming, which delivered most recent growth, with the PIGO/remote gaming model favoured by integrated resorts (IRs). IR-backed operators may be less affected by restrictions, but standalone online operators that relied heavily on wallet links face a difficult adjustment — and potential licence sales or defaults.
Source
Key Points
- The Bangko Sentral order blocking GCash and Maya links and PAGCOR’s billboard ban reduce marketing and payment channels for licensed eGames operators.
- Industry warns these actions remove incentives to stay licensed and may push revenue — and players — back to illegal operators.
- Licensed eGames growth has been rapid: GGR rose 165% in FY24 to Php154.4bn and climbed a further 26% in H1 2025 to Php214.8bn, driven largely by RNG slots and payment-platform access.
- Remote gaming (PIGO) and IR-backed offerings are more resilient under tighter rules than pure RNG iGaming platforms, which rely on broad online distribution.
- GCash and Maya already enforce two-step KYC that helped distinguish legal sites; blocking them could reduce player protection and regulatory reach.
- New licensed suppliers (eg. Light & Wonder) welcome regulation for sustainability but acknowledge short-term market shrinkage due to payment restrictions.
Why should I read this
Want the quick version? The government’s latest clampdown hits payments and advertising — the very tools that moved players into the legal market. If you follow iGaming in the Philippines (or care about tax, player safety and licence valuations), this story explains why the market could slip backwards fast.
Author takeaway (punchy)
Regulation is good — when it nudges operators into the light. But cutting off the payment rails without a clear replacement risks undoing that progress, shrinking taxable revenues and leaving players exposed. This isn’t a minor tweak; it could reshape who can viably operate in the Philippines’ online market.