The Chairman and CEO of Pagcor Alejandro Tengco pushes more striking gambling regulations instead of a complete ban.
Bagkor (Corporation Philippine Amusement and Gaming Corporation) Tengco spoke at the Light & Wonder Igaming symposium in NewPort World Resorts in Pasay on Monday (September 8), on the pretext that the regulations will have a better impact on the online gambling than the direct ban. He claimed that the simple embargo will only lead to underground operations On the illegal marketRemoving the source of tax revenue that affects the need.
In particular, Tengco called for the repairs that have been assembled and implemented by Pagcor, which includes reducing licensing fees among other policies. This has led to a fixed growth in the electronic gaming sector, as it increased by 100 billion php ($ 1.8 billion). This represents nearly half of the industry revenues.
“Igaming story in the Philippines is no longer about growth,” He said Tengco. “It comes to how they grow: safely, fair, and sustainable. We support more strict regulations to protect our people, but we are against a complete ban, which will not only push players to illegal operators and lead to the loss of revenues and jobs.”
The practical aspects of the online gambling reforms in Bagkor
Other repairs that have been placed at work include PAGCOR, the separation of organizational and operational functions, the implementation of stronger responsible games guarantees, the invitation to the most striking advertising criteria, the launch of the aid line around the clock throughout the week, and the adoption of digital tools such as PagCor guaranteeing AI-ID control systems.
Speaking to the various stakeholders in the industry, Tengco highlighted the importance of what he described as “compliance by design” in the sector’s operations. Companies must follow the anti -money laundering regulations, enhance KYC’s guidelines (Learn about your customer), and support the game responsible for Pagcor in full.
He added: “Through responsible growth, compliance and transparency, the Philippines can develop the IGAMING industry more secure, stronger and competitive globally.”
Distinctive image: Bagkor
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