PAGCOR Chairman and CEO Alejandro Tengco has announced the extensive re-arrangement and upgrade of the Philippines’ gaming regulatory frameworks. The regulator will reportedly introduce standards to have online poker and enhanced slot machines legalized in the country in an attempt to make the Philippines the leading gaming destination in Asia.
Extended Scope:
As reported by Inside Asian Gaming, the regulator’s CEO used the recent G2E Asia Conference event held in Macau to address the question of the further expansion of PAGCOR scope of responsibility. In addition to the gaming licensing commitments covering land-based casinos and a range of electronic games and sports betting facilities, this Philippine authority is reportedly looking for the new opportunities in both brick-and-mortar and online operations to expand the country’s offerings of regulated casinos.
Industry Development Models:
The announcement reportedly comes after the POGO and PIGO industry developments were respectively launched by the Philippine gaming authority over the last seven years. As these are up and running in the post-COVID period, PAGCOR chairman and CEO reportedly advised that the regulator is currently committed to ensuring the up-to-date status of its regulatory models and searching for additional models to increase the scope of the Philippine gambling offerings.
Tengco reportedly said: “For this year and beyond, PAGCOR intends to bring regulatory frameworks for online poker operations, enhance slot machine operations, upgrade gaming equipment and create and upgrade [existing] regulatory frameworks. We have already accomplished projects like updating the suppliers’ regulatory manual, implementing rules and guidelines for foundations, and crafting gaming employment license regulations and prohibitions on enter, stay and play procedures.”
Online Gaming Included:
Such an environment seems to be creating space for the extension of the framework to online casinos. PAGCOR chairman and CEO continued: “Amendments to PAGCOR’s regulatory frameworks for domestic online gaming have also been introduced. We are currently studying the possibility of regulating other facets of the overseas gaming operations, or the possible regulation of a special class of business process outsourcing. popularly known as BPOs.”
More Responsive Measures:
As reported, the gaming regulator will use the framework to introduce the measure aimed at prevention and elimination of non-compliant gambling and irregular activities. Tengco reportedly also indicated his commitment to the implementation of comprehensive regulatory measures that will be “more responsive to the needs of the changing times.” Such measures shall be reportedly designed to simultaneously address “the social ills that come with gaming operations.”
“I know much still needs to be done,” Tengo reportedly added. “However, I firmly believe that we are on the right track towards making the Philippines a prime gaming destination in the ASEAN region.”
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