But during his 2025 State of the Nation Address, Marcos stayed conspicuously silent on online gaming despite pressure from lawmakers and advocacy groups pushing for a total prohibition.
The silence brought relief to many gaming stakeholders, especially operators of battered gaming companies, whose owners have pleaded for a more measured approach to avoid driving players toward illegal gambling rings.
“This omission seems intentional. It’s possible that the President is still weighing economic considerations, as online gambling continues to generate substantial revenue for both Pagcor and the government,” Wendy B. Estacio-Cruz, research head at Unicaptial Securities, told InsiderPH.
“Raising the idea of a ban or stricter controls could have sent the wrong signal to investors and stakeholders,” she added.
Marcos did mention the state-run Philippine Amusement and Gaming Corp., but only to praise its efforts alongside the Philippine Sports Commission in nurturing the next generation of superstars, including Carlos Yulo, Hidilyn Diaz, Alex Eala and EJ Obiena.
He also acknowledged the need to strengthen medical assistance funding, which is supported by government agencies such as Pagcor and the Philippine Charity Sweepstakes Office, or PCSO.
Tycoon Eusebio Tanco-chaired DigiPlus Interactive, the country’s biggest online gambling firm, is well above recent lows and gained nearly 19 percent to 32.10 before the SONA. Tycoon Enrique Razon Jr.’s Bloomberry Resorts, which recently launched MegaFUNalo! digital gaming platform, rose 2.7 percent to 4.56 each on Monday.
Is it risk-on once again for gaming stocks? Not so fast, since Pagcor is working on regulations that could limit the booming sector’s growth.
“[Unicapital Securities] still has neutral rating on gaming stocks due to regulatory risks. We believe investors should remain cautious,” Estacio-Cruz said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
