Unicapital Securities Equity Research Analyst Jeri R. Alfonso said the government is unlikely to shut down local online gambling operations which generate significant revenues. After its establishment, PAGCOR entered into a contract with Philippine Casino Operators Corporation (PCOC) for the operation of the floating casino in the Manila Bay in 1977. However, after the floating casino was gutted by fire in 1979, PAGCOR shifted its focus to land-based casinos and entered into another contract with PCOC for the management of a casino at the Provident International and Resources Corporation (PIRC) building on Imelda Avenue, Para\u00f1aque City, Metro Manila, Philippines.<\/p>\n
Under SB 2602, the Department of Justice (DOJ) shall issue a disabling order to restrict or block access to online content promoting gambling, with notice to the Department of Information and Communications Technology (DICT) and National Telecommunications Commission (NTC) to monitor compliance. Kaya Rehab CEO Robert Labos said that treatment for gambling addiction should be different from that of substance addiction, but some medical professionals and institutions tend to mix both due to inadequate resources which, in turn, leads to poor success rates. Pagcor also encourages players to have themselves checked at accredited rehab centers. However, the Philippines is still far behind in terms of dealing with a gambling addiction. In Baguio, 60% of Kaya Rehab clients are enrolled specifically for gambling addiction.<\/p>\n
\u201cRather than a full ban, we think the government will implement stricter policies instead, and not a complete ban. Besides this, thousands of Filipino workers will be displaced once this pushes through,\u201d she added. Shares of Tanco-led digital entertainment company DigiPlus Interactive Corp. dropped by 3.31% or P1.15 to P33.6 apiece, while stocks of gaming technology provider DFNN, Inc. fell by 10.71% or 27 centavos to P2.25 per share. Mr. Escudero suggested a ban on PIGOs if these are determined to negatively affect the lives of Filipinos. The Philippine government issued a total ban on POGOs last year.<\/p>\n