Philippines: PAGCOR CEO reiterates predictable stance against total online gambling ban
Tengo supports stricter regulation, but warned a total ban ‘will only drive players to illegal operators.’
Key points:
– PAGCOR CEO and Chairman Alejandro H. Tengo has cautioned against a total iGaming ban in the Philippines
– He said: “We support stricter regulations to protect our people, but we are against a total ban”
PAGCOR CEO and Chairman Alejandro H. Tengo once again made his position on iGaming in the Philippines clear during a Light & Wonder Symposium at Newport World Resorts in Pasay City.
The speech comes as the nation continues to grapple with the impact of iGaming following the outlawing of Philippine Offshore Gaming Operators (POGOs).
Indeed, financial institutions are tightening the reins on their engagement with online gaming, while the Senate is set to lead an investigation into online gaming – led by Committee Chair Sen. Erwin Tulfo.
A report from late August found that online gaming in the Philippines may be down as much as 50%, following the exit of many e-wallet suppliers from the industry the week prior.
Now, Tengo says, despite stricter regulation being needed, an outright ban would be even more problematic. “The iGaming story in the Philippines is no longer just about growth; it’s about how we grow — safely, fairly and sustainably,” he said. “We support stricter regulations to protect our people, but we are against a total ban, which will only drive players to illegal operators and result in loss of revenues and jobs.
Good to know: PAGCOR also gives to national causes. Earlier this month, it donated emergency service vehicles to rural communities
“With responsible growth, compliance and transparency, the Philippines can develop a safer, stronger and globally competitive iGaming industry.”
Tengo also outlined the current work being undertaken by PAGCOR to improve gaming standards. This included the tightening of advertising regulations, among others.
It remains to be seen how the Goverment reacts to such a predictable stance. If there is one region that does not really have a leg to stand on when it comes to advising on the illegal market, it is the Philippines.
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