PAGCOR chief flags impact of Middle East tensions on gaming sector

The Philippine Amusement and Gaming Corporation (PAGCOR) said the local gaming industry is beginning to feel the effects of ongoing tensions in the Middle East, particularly through rising fuel costs that are weighing on business activity and mobility.

PAGCOR chairman and chief executive officer Alejandro Tengco said the impact is already evident across gaming jurisdictions worldwide.

“This is not a good time for everyone,” Tengco 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.”

He noted that the pressures are affecting not only operators but also stakeholders in the local gaming industry.

Despite these challenges, Tengco emphasized the importance of maintaining engagement within the sector, particularly during uncertain times.

“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 that continued dialogue and collaboration would be crucial in navigating evolving market conditions.

“It is important that we come together, that we continue these conversations, and that we support each other as an industry,” he said.

Tengco also said PAGCOR is prepared to adjust its strategies in response to changing circumstances, while ensuring that responsible gaming remains central to its operations.

“At PAGCOR, we will adjust what we need to do. We have to be in tune with the times and ensure that responsible gaming remains at the center of what we do,” he said.

He likewise addressed the proposal to separate PAGCOR’s regulatory and commercial functions, saying the Governance Commission for GOCCs is still reviewing the plan.

“Many are asking for the decoupling, and we are awaiting the decision of the GCG,” Tengco said. “If we get the approval to privatize, it will be a game changer.”