The Philippines is shining as a gaming destination, with a progressive regulatory environment and rampant interest to invest. Financial expert Ramon Garcia Jr. and gaming veteran David Carruthers, guided by industry guru Ben Lee, point out exactly why such interest exists and where it could go – particularly if authorities are given more oversight powers.
Please find some of the topics below, indicated by the timecode:
00:20 – Introductions.
02:30 – Philippines is third in regional ranking. Philippines has best GDP growth in the region.
04:50 – Philippine market no longer hostile, seen as “opportunistic”.
06:28 – The Philippines should not be “shy about being progressive”.
08:03 – No problem for online as Philippines is “one of the faster growing markets for Starlink internet”.
09:33 – Illegal operators honing in, taxation changing the framework.
10:35 – Gaming is third-largest contribution to government coffers.
12:16 – Other regions developing.
14:30 – Every household has a disposable income. Chinese population is declining.
16:00 – Reliance on China is overcooked.
22:38 – What percentage of GDP is gaming in the Philippines?
25:30 – What happens if there’s a problem in your home market?
27:20 – Philippines has abundance of talent. Secret to success in the market is abiding by the rules.
29:17 – One problem is that PAGCOR has no police powers. Even if operators report problems, the regulator then has to coordinate with other departments for enforcement.
32:08 – FATF greylist. Technology could bridge the capability to ensure enforcement.
35:10 – Look for the gemstones that are not so apparent. Thanks to the Philippines.
The panel took place at the ASEAN Gaming Summit, in Manila.
