SiGMA Asia 2024: Philippine gaming leaders discuss tax cuts, market growth, and regulatory opportunities

Shirley Pulis Xerxen June 4, 2024

SiGMA news

SiGMA Asia 2024: Philippine gaming leaders discuss tax cuts, market growth, and regulatory opportunities

The first day of the conference agenda at SiGMA Asia 2024 included an interesting fireside chat, sponsored by Pronet Gaming, focused on the impact of tax cuts on gambling winners in the Philippines. Patrick Kinghorn from Pronet Gaming – Asia, Mel Robles from the Philippine Charity Sweepstakes Office (PSCO), and Ramon C. Garcia Jr. from DFNN discussed tax adjustments, social implications, and gambling regulation.

The first day of the conference agenda at SiGMA Asia 2024 included an interesting fireside chat, focused on the impact of tax cuts on gambling winners in the Philippines. Patrick Kinghorn from Pronet Gaming – Asia, Mel Robles from the Philippine Charity Sweepstakes Office, and Ramon C. Garcia Jr. from DFNN discussed tax adjustments, social implications, and gambling regulation.

Optimistic outlook on Philippine gaming market maturity

The discussion began with an optimistic outlook on the potential maturity of the gambling market in the Philippines, with both Mel Robles and Ramon Garcia expressing confidence in the untapped potential of the lottery sector and other forms of gambling. Mel Robles highlighted the unique nature of the lottery, referring to it as a “bet and forget” type of game, which allows for larger jackpots compared to casino games. He also mentioned the PCSO’s plans to launch a billionaire lottery to excite the market, emphasising the operator’s role in boosting sales and contributing to government tax revenues.

Envisioning an “Asia Billions” lottery

The conversation then shifted to the idea of co-mingling lottery products across Asia, with Patrick Kinghorn posing the question of whether an “Asia billions” lottery could be feasible, similar to the EuroMillions. Mel Robles and Ramon Garcia both expressed interest in the concept, with Robles suggesting the idea of a world lottery as a cultural and unifying event.

The panel also discussed the acceptability of gambling in various cultures, noting that the lottery is often seen as the more socially acceptable form of gambling. They touched on the different age limits for gambling in the Philippines compared to other countries, and the potential for expansion in areas such as sports betting.

Future goals for Philippine gaming

Ramon Garcia highlighted the growth opportunities outside of Manila, pointing to emerging gambling markets in Clark, Cebu, and Iloilo. He emphasised the importance of airport infrastructure in facilitating the growth of these markets, noting the international appeal of destinations like Iloilo.

As the session drew to a close, Patrick Kinghorn asked both Mel Robles and Ramon Garcia about their goals for the future. Robles expressed his desire to see the PCSO’s income grow to support more charitable causes, while Garcia emphasised the business-friendly regulatory environment and the demographic advantages that make the Philippines an attractive market for gambling.