PAGCOR Chairman and CEO Alejandro Tengco has described the recent restrictions imposed on the rapidly growing eGames sector – as well as the regulator’s own moves to privatize its casino operations – as essential steps to ensuring the long-term health of the Philippines gaming industry.
In comments made during an opening address at G2E Asia Philippines in Manila on Wednesday, Tengco said recent challenges that have slowed the eGames sector, including the delinking of e-wallets and certain payment channels, present an opportunity to “strengthen regulatory frameworks to create a market that is grounded on integrity, innovation and long-term sustainability”.
On the delinking of e-wallets, the chairman stated, “This reform, which is designed to improve traceability, reinforce anti-money laundering protections, and curb illicit financial activity, inevitably has short-term impacts.
