Unlike their Western counterparts, many Asian policymakers place greater emphasis on the perceived social costs of gambling. According to a 2025 Pew Research Center survey, roughly 70% adults in Indonesia, India, and South Korea view gambling as immoral, placing these nations among the top five globally. In contrast, only about 30% of adults in the U.S. or Australia hold similar views. This social stigma acts as a political lever. When rapid industry growth triggers public outcry, legislators often respond with high-impact policy U-turns to maintain social order. The Philippines is a case in point. Twenty-fold growth in online gaming between 2022 and 2025 ignited concerns over addiction, prompting sudden restrictions on e-wallet linkages in August 2025. Such shifts can cause severe revenue erosion, as seen with the dominant operator Digiplus Interactive Corp. Political risks also affect project development. For example, shifting political coalitions and public backlash led to the...
