The Daily Tribune
Hontiveros urges GSIS to pull out of non-compliant gambling investment
The Government Service Insurance System (GSIS) is facing scrutiny over its P1 billion investment in online gambling platform DigiPlus, with Senator Risa Hontiveros urging the pension fund to divest.
Hontiveros cited concerns over the harmful social impacts of gambling and a Commission on Audit (COA) report finding the investment violates laws and internal policies.
GSIS President and General Manager Jose "Wick" Veloso previously defended the investment made in January 2024, stating DigiPlus is a legal, profitable, safe, and liquid entity listed on the Philippine Stock Exchange.
However, Hontiveros questioned Veloso during a Senate hearing about the continued stake in DigiPlus, especially as Congress moves towards stricter regulation or a ban on online gambling.
She urged GSIS to proactively withdraw its investment from a sector facing increasing policy restrictions.
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