Thailand’s plan to legalize casinos is a “big threat” to the Philippines’ gaming sector, which would face fierce competition from a tourism giant.
According to Alejandro Tengco, president and CEO of Philippine Gaming and Amusement Corp. (Pagcor), says the gaming regulator is now preparing the local industry for the potential rivalry with Thailand.
Among the steps being taken are improvements in the regulatory environment in order to attract more investments, as well as the “decoupling” of Pagcor’s mandate as both a regulator and casino operator to promote a level playing field.
“I’m making sure that Pagcor has stringent rules and regulations, and good guidelines to show that we stand on our own,”Tengco says.
Last January, Thailand’s Cabinet cleared a draft bill legalizing casinos in “entertainment complexes,” hoping to attract more tourists to boost its export-driven economy.
Source: Philippine Daily Inquirer
