Duterte reverses stance on gambling, looks to raise funds

October 13, 2021 Emerging Markets Industry Updates

President Rodrigo Duterte appears to have changed his stance on gambling, suggesting it could help raise necessary funds for the government amid the coronavirus pandemic. Duterte has previously been a staunch critic of gambling, having quashed new casino developments in Boracay and Manila. Online gambling expansion was among the topics of discussion when the president met with with political party officials at the start of July. “When it comes to the pandemic, we’re running out of money. We used up all our reserved funds to contain the viral virus from rampaging all throughout the country,” he stated. “Now that we need money the most sensible thing is really just to encourage those activities.”