The president of the Philippines, Rodrigo Duterte, has turned his attention to online gambling and the country’s largest operator of electronic bingo games is suffering as a result.
Following news that the gaming regulator will not issue new gaming licences or renew old ones for the bingo games, shares in the operator – Leisure and Resorts World Corp - plunged 21 per cent.
Online bingo is the most popular form of electronic gambling in the Philippines, making up three quarters of internet gaming revenue in the first half of 2016.
Duterte, who took office in June, has vowed to "destroy" online gambling.
