The Philippine Amusement and Gaming Corporation (PAGCOR) said its regulatory framework must continue evolving in response to a changing gaming landscape while providing legitimate operators with stable and predictable rules.
PAGCOR Chairman and CEO Alejandro H. Tengco said the regulator must regularly assess how it can best fulfill its mandate as the country’s gaming industry continues to grow and new challenges emerge.
“Our 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 during a keynote address at The Regulators Forum at Newport World Resorts in Pasay City on Thursday.
“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.”
Alejandro H. Tengco
Tengco said an effective regulatory system should respond to real-world conditions, protect the public and support a legitimate gaming industry. It should also safeguard the sector’s integrity while giving licensed operators a predictable regulatory environment, he added.
He cited the planned separation of PAGCOR’s regulatory and operating functions as part of the agency’s institutional reform.
Tengco said the proposed decoupling would strengthen PAGCOR’s regulatory role, establish clearer industry standards and help ensure that legitimate operators compete on a level playing field.
The proposal remains under review by the Governance Commission for Government-Owned or Controlled Corporations, with a decision expected soon.
Once the review is completed, the proposal will be submitted to the Office of the President. An executive order will be issued if President Ferdinand Marcos Jr. finds merit in separating the agency’s regulatory and operating functions.
