Rising fuel costs and global uncertainty are beginning to affect gaming activity, PAGCOR’s CEO says.
The Philippines.- Alejandro H. Tengco, chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), has warned that tensions in the Middle East are beginning to impact the Philippine gaming sector. Speaking at the Manila After Dark 34 networking event hosted by Inside Asian Gaming, Tengco said global oil price pressures were being felt across major gaming jurisdictions.
“This is not a good time for everyone,” he said. “Gaming jurisdictions globally are feeling the impact of the oil crisis, and even more progressive countries like Singapore, Macau, and the United States are not spared.”
“Being together like this makes us forget, even for a while, the challenges we face,” he said. “It allows us to rekindle relationships—whether as clients, suppliers, or partners—and that is important, especially in difficult times.”
He added: “It is important that we come together, that we continue these conversations, and that we support each other as an industry”.
The PAGCOR CEO said the regulator is prepared to adjust its strategy in response to changing global dynamics while keeping responsible gaming at the centre of its approach. He also addressed the long-discussed proposal to separate PAGCOR’s regulatory and commercial roles, saying that the Governance Commission for GOCCs is still reviewing the potential decoupling. He suggested that the possible privatisation of PAGCOR casinos could represent a “game changer” for the Philippine gaming industry.
Rising fuel costs and global uncertainty are beginning to affect gaming activity, PAGCOR’s CEO says. The Philippines.- Alejandro H. Tengco, chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), has warned that tensions in the Middle East are beginning to impact the Philippine gaming sector. Speaking at the Manila After Dark 34 networking…
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