How geopolitics and regulation are redrawing the gaming map in Asia
At the SiGMA Asia 2025 summit in Manila, a high-level fireside chat titled “Market Moves & Trade Tensions: How Geopolitics and Regulation Are Redrawing the Gaming Map in Asia” explored the intricate intersections of political influence, regulatory developments, and economic opportunities in the regions gaming sector. Hosted by Oliver De Bono, CEO of Quantum Gaming, the panel featured Ramon C. Garcia Jr., Executive Chairman of DFNN, and Kyle Wiltshire, CEO of TESTA.
A climate of change and complexity
The discussion opened with a pressing question: which regions stand to gain most in Asias evolving gaming landscape? With revived Trump-era tariffs, shifting Chinese policies, and a broader rise in Western protectionism, the regions economic dynamics are in flux.
The Philippines has been a gaming hub here in Asia for decades, De Bono began, highlighting the nations strategic position amid regulatory evolution. Garcia Jr. underscored the market’s current momentum: The administration has been so pro-business that we have settled our case with the other regulator and are now live with them.
Despite progress, he noted lingering inconsistencies. Theres some inconsistency on the tariff. The leaders have about an 800 basis points advantage on their tax versus the other PGOs, Garcia explained, calling for more uniformity in tax regimes to attract long-term investment.
Workforce, mobility, and regulation
Wiltshire brought the focus to human capital, noting, The Philippines workforce and experience is probably the deepest in Asia. Having been part of the local gaming ecosystem since 2010, he pointed to the well-established infrastructure and a maturing regulatory framework. However, he also highlighted rising competition from emerging hubs like Cambodia and Thailand, which are positioning themselves as BPO-driven back-office support ecosystems.
The panel identified talent migration as a growing concern. As Garcia remarked, If Japan actually does open up their integrated resorts, they dont really have people. They need about 3 million new workers. Such labour demands may entice the Philippines seasoned gaming professionals abroad, creating a domestic talent gap.
The black market and overregulation risk
Comparisons were drawn with the overregulated European markets, particularly Germany and the UK, where restrictive policies have unintentionally fostered a resurgence in black market activity.
The core of what we do as a company is we just look at what the actual player experience is, Wiltshire said. Theyve neutered the player experience so badly… It’s very strange to say we believe in responsible gaming, and then create thousands of rules around doing it.
Garcia echoed the sentiment: Any tightness from our regulators just means the black market will come in, drawing attention to illegal Powerball sales in the Philippines that undermine the local lottery sector.
Regional convergence and strategic positioning
De Bono posed a compelling question: could the new generation of Asian jurisdictions become export hubs for gaming services, just as Malta had done in Europe? Do we see a potential that the European businesses come to the Philippines, take the upcoming remote licence opportunities, and then reverse target the European markets?
Wiltshire responded with a notable development: Evolution is about to open a studio here in Cebu targeting the local market entirely at first, suggesting the Philippines may indeed become a launchpad for international operations.
Garcia supported this shift, citing the government’s innovation first, regulation later philosophy: The Philippines has decided to adopt the Philippine policy of innovation first, regulation later. And I think its kudos to the regulators who want to grow revenue.
Talent pipeline and education reform
One critical issue discussed was the need for deeper investment in STEM education. Wiltshire pointed out that while the Philippines excels in support services, it lags behind Vietnam in software engineering and advanced development skills.
Garcia proposed a solution: We need to bring in talent trained, which will take a number of years, hopefully led by us in the gaming industry, specific to our industry. He advocated for a joint effort between gaming companies and top-tier universities to nurture the next generation of iGaming engineers and analysts.
Employer incentives and tax regime flexibility
Finally, the panel discussed tax structures and incentives for foreign investors. The Philippines, with its special economic zones, offers competitive conditions. Foreign resident workers, as long as you have a tax treaty, only need to pay 15% income tax, Garcia explained. Special economic zones, such as the Freeport Area of Bataan or the Cagayan Economic Zone Authority (CEZA), were cited as key locations with streamlined processes and employer benefits.
It’s quite interesting. 15% is very decent compared to some European states where you’re paying as high as 65%, De Bono remarked.
The Philippines as Asias strategic gaming hub
With its rich talent pool, regulatory adaptability, and growing infrastructure, the Philippines is poised to become the central node in Asias iGaming network. As Wiltshire aptly summarised, There has been consistent change toward making things more approachable.
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