LISTED gaming technology provider DFNN, Inc. said that restrictions on online gambling platforms might force lower-income players to show to unlicensed platforms.
“Well-intended restrictions, if not fastidiously calibrated across distinct gaming formats, may unintentionally create incentives for certain segments of the population, particularly casual or lower-income players, to hunt alternatives from unlicensed or offshore platforms,” DFNN said in an announcement on Monday.
“These grey market operations, which regularly exist beyond regulatory reach and with non-existent player safeguards, could undermine the very protections that the laws seeks to strengthen,” it added.
DFNN said it is necessary to think about the “operational diversity” across the gaming ecosystem, particularly the excellence between primarily digital platforms and legacy land-based establishments.
“As regulatory reforms are considered, we respectfully emphasize the importance of proportionality and precision of their application,” it said.
DFNN said its gaming network operates under close regulatory supervision and adheres to strict compliance standards.
“These community-based outlets provide secure, supervised environments for responsible gaming, and proceed to generate meaningful economic advantages equivalent to job creation, local business partnerships, and direct fiscal contributions to their host communities,” it said.
“We consider there may be a useful opportunity to strike the appropriate balance: one which strengthens accountability and social safeguards while preserving the viability of well-regulated, locally embedded operators that contribute positively to the national economy,” it added.
Lawmakers recently filed bills to limit or completely ban online gaming platforms amid reports of growing addiction amongst Filipinos.
“These proposed changes aim to reinforce consumer protection and mitigate propagating problematic gaming habits, objectives which DFNN fully supports,” DFNN said.
DFNN is the parent of licensed gaming technology provider IEST, Inc. Through its subsidiaries and affiliates, DFNN holds licenses for electronic gaming machines, a sports betting exchange, and digit and pari-mutuel games with the Philippine Amusement and Gaming Corp.
DFNN shares were unchanged at P1.99 apiece on Monday. — Revin Mikhael D. Ochave