Alejandro Tengco said recent months have seen “severe headwinds.”
The Philippines.- Alejandro H. Tengco, chairman and CEO at the Philippine Amusement and Gaming Corporation (PAGCOR) has repeated his assessment that tighter payment controls hit revenues in the third quarter of this year following the delinking of e-wallets.
Speaking at the G2E Asia in Pasay City, Tengco said the measure was essential to improve traceability, reinforce anti-money laundering protections, and curb illicit financial activity.
“In recent months, most of you are aware that our industry has confronted severe headwinds,” he said. “These reforms inevitably have short-term impacts that are necessary because we cannot build a modern digital gaming ecosystem on foundations that do not fully meet global integrity and compliance standards.”
He said the move was part of broader responsible gaming reforms. Licensed operators in the Philippines are m now required to integrate responsible gaming tools such as self-exclusion and betting limits to help players manage their gambling habits.
PAGCOR has also prohibited the use of credit cards and cryptocurrencies for betting, recognising “the risks of over-borrowing and impulsive behaviour.”
Advertising practices have also undergone reforms through PAGCOR’s partnership with the Ad Standards Council in July.
“These efforts reflect PAGCOR’s long-term goal of cultivating a more secure, transparent, and internationally aligned gaming environment,” Tengco added. “The future of gaming will demand regulatory agility, industry cooperation, and a shared commitment to integrity, and players should always feel that their safety and well-being remain at the core of our policies.”
Alejandro Tengco said recent months have seen “severe headwinds.” The Philippines.- Alejandro H. Tengco, chairman and CEO at the Philippine Amusement and Gaming Corporation (PAGCOR) has repeated his assessment that…
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