{"id":9618,"date":"2025-08-08T04:07:08","date_gmt":"2025-08-08T04:07:08","guid":{"rendered":"https:\/\/casino-online-best.com\/index.php\/2025\/08\/08\/gsis-faces-backlash-over-online-gambling-investment\/"},"modified":"2025-08-08T04:07:08","modified_gmt":"2025-08-08T04:07:08","slug":"gsis-faces-backlash-over-online-gambling-investment","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/08\/08\/gsis-faces-backlash-over-online-gambling-investment\/","title":{"rendered":"GSIS Faces Backlash Over Online Gambling Investment"},"content":{"rendered":"<div>\n<p>Public trust in the Government Service Insurance System (GSIS) has been rattled after revelations that the state-run pension fund invested heavily in an online gaming company \u2014 despite mounting pressure to ban such activities in the Philippines.<\/p>\n<hr>\n<p><strong><em>Good to Know<\/em><\/strong><\/p>\n<ul>\n<li><strong><em>Investment in DigiPlus: GSIS spent over PHP1 billion on the <a href=\"https:\/\/igaming.org\/casino\/what-is-igaming\/\">iGaming<\/a> firm.<\/em><\/strong><\/li>\n<li><strong><em>Stock value drop: Shares purchased at PHP65.30 are now worth just PHP13.68.<\/em><\/strong><\/li>\n<li><strong><em>Broader concerns: Senate leaders want a total ban on online gambling.<\/em><\/strong><\/li>\n<\/ul>\n<hr>\n<p><strong>Senator Risa Hontiveros<\/strong>, one of the most vocal critics of the country\u2019s offshore gaming sector, said she was shocked to discover that GSIS allocated PHP1 billion (about US$17.4 million) to DigiPlus Interactive Corp. The senator questioned why the pension fund for teachers, police officers, and other government workers would risk members\u2019 contributions on an industry she believes harms Filipino communities.<\/p>\n<h2><strong>A Senator\u2019s Sharp Rebuke<\/strong><\/h2>\n<p>Speaking on the Senate floor, <strong>Hontiveros<\/strong> did not hold back.<\/p>\n<p><em>\u201cYou heard that right, Mr. President and dear colleagues \u2014 GSIS invested over PHP1 billion in online gambling. Those shares were bought at a peak of PHP65.30 and have since dropped to PHP13.68,\u201d<\/em> she said.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>She added that countless Filipinos have been driven into deep debt through e-gambling, often made easier through digital wallets and payment apps. \u201cFor some, it cost them their lives, and all it took was a single tap,\u201d Hontiveros stressed.<\/p>\n<p>Hontiveros is not alone in her concerns. Senate President Juan Miguel Zubiri and Senator Joel Villanueva also support a complete ban on online gambling. Until then, Hontiveros has filed a bill seeking to block the use of e-wallets and super-apps for placing bets.<\/p>\n<h2><strong>Controversial Investment Choices<\/strong><\/h2>\n<p>The DigiPlus stake isn\u2019t the only GSIS investment raising eyebrows. Hontiveros also flagged the fund\u2019s 0.82% holding in Del Monte Pacific, which she says is struggling under US$2.3 billion in debt. According to her, the investment has already generated an estimated PHP19.1 million paper loss, a drop of more than 32%.<\/p>\n<p>She accused GSIS of breaching the \u201cguardrails\u201d meant to safeguard its investment decisions, pointing to earlier findings from the Commission on Audit. In July, the Office of the Ombudsman suspended GSIS President and General Manager Jose Arnulfo \u201cWick\u201d Veloso and six other officials over what it described as questionable investments. The audit said GSIS had invested PHP2.3 billion in three companies without a proven track record of profitability in the past three years.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>GSIS Responds<\/strong><\/h2>\n<p><strong>GSIS<\/strong>, which has been operating since the 1930s, said it <em>\u201cfully supports transparency and accountability\u201d<\/em> and will work with regulators reviewing the DigiPlus deal.<\/p>\n<p>The fund emphasized that it will conduct a full review of its charter, investment guidelines, and risk thresholds \u2014 particularly for sensitive or high-risk sectors.<em> \u201cStill, we recognize that public trust must be continuously earned,\u201d<\/em> GSIS noted.<\/p>\n<p>Despite the controversy, GSIS remains financially strong on paper. It serves 2.74 million members and pensioners, with total assets of PHP1.88 trillion and a net income of PHP76.82 billion as of June, up 31% year-on-year. Over the last five years, it has averaged a 6.75% return on investments.<\/p>\n<h2><strong>FAQ<\/strong><\/h2>\n<h3><strong>What is DigiPlus?<\/strong><\/h3>\n<p>DigiPlus Interactive Corp. is a Philippine Stock Exchange-listed company that ranks No. 233 on the Fortune Southeast Asia 500 list. It markets itself as a digital entertainment firm that blends technology with online gaming experiences.<\/p>\n<h3><strong>Why is the GSIS investment controversial?<\/strong><\/h3>\n<p>Critics say the pension fund is risking public employees\u2019 retirement savings on industries tied to gambling, which many lawmakers want to ban outright.<\/p>\n<h3><strong>Is GSIS financially stable despite the controversy?<\/strong><\/h3>\n<p>Yes. Based on its latest financial reports, GSIS says the Social Insurance Fund is secure and actuarially sound.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>Summary<\/strong><\/h2>\n<p>The GSIS investment in DigiPlus has triggered heated debate in the Philippines, with top senators questioning the wisdom of placing pension money into the online gambling sector. While GSIS insists it will review its investment policies and cooperate with oversight bodies, political pressure for stricter rules on gambling \u2014 and on how public funds are managed \u2014 continues to grow.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/gsis-faces-backlash-over-online-gambling-investment\/\">GSIS Faces Backlash Over Online Gambling Investment<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Public trust in the Government Service Insurance System (GSIS) has been rattled after revelations that the state-run pension fund invested heavily in an online gaming company \u2014 despite mounting pressure to ban such activities in the Philippines. Good to Know Investment in DigiPlus: GSIS spent over PHP1 billion on the iGaming firm. Stock value drop: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-9618","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=9618"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9618\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=9618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=9618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=9618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}