MANILA – Alejandro Tengco, Chairperson and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), emphasized that stricter regulations and the privatization of PAGCOR-operated casinos would bolster the local gaming industry as it faces growing competition, particularly from Thailand’s plans to legalize gambling.
In a recent briefing, Tengco acknowledged the threat posed by Thailand, which is set to legalize both land-based and online casinos. He noted that this could impact the Philippines, currently Asia’s second-largest gaming hub after Macau, especially as Thailand attracts a significant number of international tourists.
“Thailand’s licensing of casinos and Japan’s opening of a casino is a major challenge for us,” said Tengco. “We need to act quickly and stay ahead of the competition.”
To ensure the Philippines remains competitive, PAGCOR is enforcing stricter regulations, encouraging casino renovations, and introducing nearly 2,000 new modern slot machines.
In addition, Tengco reaffirmed PAGCOR’s plan to transition to a purely regulatory role to eliminate any conflicts of interest. “By decoupling, we will prove to the world that we are fair,” he stated.
PAGCOR plans to begin privatizing over 40 of its casinos next year.
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