The Philippine gaming industry is feeling the strain of ongoing tensions in the Middle East as elevated fuel prices begin to weigh on business activity and mobility, according to the head of the country’s gaming regulator.
Alejandro H. Tengco, chairsperson and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), said that the impact of rising oil costs is already visible on the ground.
Speaking at the Manila After Dark industry event, Tengco cited that the crisis is a global phenomenon affecting jurisdictions from Singapore and Macau to the United States.
“This is not a good time for everyone,” Tengco said, stressing that these external pressures are affecting both gaming operators and local stakeholders, making industry collaboration more vital than ever.
Despite the economic uncertainty, Tengco urged the sector to maintain engagement and dialogue. He said such gatherings allow partners, suppliers, and clients to rekindle relationships and support one another through difficult market conditions.
Tengco also addressed the long-standing proposal to “decouple” PAGCOR’s dual roles as both a commercial operator and a government regulator.
The plan to separate these functions is currently under review by the Governance Commission for GOCCs.
“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.”
He added that PAGCOR is prepared to adjust its strategies to remain “in tune with the times” while keeping responsible gaming as a central priority.
Manila After Dark, organized by Inside Asian Gaming, is a regular networking event that brings together regulators, operators, and investors to discuss developments shaping the regional gaming sector.