Changed anger to mercy – President of the Philippines supports the gambling industry

According to information from the Philippine media, it became known that the head of the republic has changed his position regarding the gambling industry. The current president, Rodrigo Duterte, has long been very negative about the legalization and development of the local gambling market. A vivid example of Mr. Duterte’s attitude towards gambling can be considered the refusal of a multi-year contract for the lease of land for a gambling zone with a potential cost of one and a half billion dollars for the state budget. To date, material motivation has been able to turn the tide in favor of gambling. The president’s new reaction, of course, pleased market participants and literally immediately became marked by an increase in the value of shares of gambling companies by a significant six to seven percent. Earlier, My Lucky Story informed its readers that offshore online casino operators in the Philippines would be forced to pay to the state, Rodrigo Duterte announced this at the end of May this year. We also note that at the beginning of the same month, resort complexes in Manila were allowed to accept bets on slots and online casinos.