THE Philippine Amusement and Gaming Corp. (Pagcor) has voiced its opposition to a complete ban on online gambling, instead advocating for stricter regulations.
Pagcor chair and CEO Alejandro Tengco argued that a total ban would not effectively curb addiction or halt the growth of the online gambling industry, and would instead leave the sector unregulated and potentially exacerbate problems for Filipino citizens.
Tengco emphasized that tighter regulation is the more effective approach, allowing Pagcor to exercise oversight and control over the industry. He highlighted the significant contribution of online gambling to the overall gaming sector, noting that it currently accounts for up to half of the industry’s revenue, despite its relative newness.
Tengco acknowledged the challenges posed by the rapid growth of online gambling, particularly in the context of technological advancements.
He stated that while the industry is still in its early stages, technological progress has made it difficult to completely suppress online gambling activities.
Therefore, he asserted that focusing on regulation and oversight, rather than outright prohibition, is the most practical and effective way to mitigate the potential negative consequences of online gambling while still allowing the government to collect taxes and exercise control.
This approach, according to Tengco, would better protect Filipino citizens and address concerns related to addiction and illegal operations.
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