PAGCOR chief says regulatory framework must continue to evolve
Alejandro Tengco says effective regulatory changes should address marker developments while protecting the public and supporting legitimate gaming operators.
The Philippines.- PAGCOR chairman and chief executive officer Alejandro H. Tengco has reiterated his view the Philippines’ gaming regulatory framework will need to adapt as the industry evolves. Speaking at The Regulators Forum at Newport World Resorts in Pasay City on September 17, Tengco said the regulatory framework “will continue to evolve as conditions change and as our experience gives us a better understanding of what works and where improvements are needed.”
Tengco said effective regulatory changes should address developments in the market while protecting the public and supporting legitimate gaming operators. He said the strength of a regulatory system depends on its ability to respond to real-world conditions while giving legitimate operators a stable and predictable environment in which to operate.
“What matters is that we remain open to corrections, that we are willing to learn, and that we are prepared to act when change is necessary,” he said.
Tengco mentioned PAGCOR’s proposed separation of its regulatory and gaming-operating functions and said the move aims to establish clearer regulatory standards and give licensed operators a more consistent framework in which to compete. The proposal is currently being reviewed by the Governance Commission for GOCCs. Once the review is completed, it will be forwarded to the Office of the President for consideration.
