Via GRAPHIC PLUS — Philippine Amusement and Gaming Corporation Chairman and CEO Alejandro H. Tengco said on Tuesday, April 14, that the Philippine gaming industry is feeling the strain of ongoing tensions in the Middle East, with elevated fuel prices beginning to weigh on business activity and mobility.
Speaking at the 34th Manila After Dark, hosted by Inside Asian Gaming, Mr. Tengco said the impact of rising fuel costs is already visible on the ground.
“This is not a good time for everyone,” he 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.”
Mr. Tengco said these external pressures are affecting not only gaming operators but also the local gaming industry stakeholders.
Still, he underscored the importance of maintaining engagement across the sector, especially during periods of uncertainty.
“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 key to 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.
Mr. Tengco likewise noted that PAGCOR is prepared to adjust its approach in response to changing circumstances.
“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 also addressed the long-standing proposal to separate PAGCOR’s regulatory and commercial roles, saying the Governance Commission for GOCCs (GCG) is still reviewing the plan.
“Many are asking for the decoupling, and we are awaiting the decision of the GCG,” he said. “If we get the approval to privatize, it will be a game changer.”
Manila After Dark is a regular industry networking event organized by Inside Asian Gaming, bringing together regulators, operators, suppliers, and investors from across the region for informal discussions and engagement on key developments shaping the gaming sector.
