Philippine online casino targeted for Q4 2024 launch

[The Buzz]

Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), revealed at G2E Asia in Macau, that the gaming regulator's plan to launch its own online casino brand, casinofilipino.com, could potentially launch by the end of this year.

From GGRAsia:

“We are already talking to our possible joint venture partner. In my mind, out of three companies that we’ve talked to, I already have one chosen,” stated Mr Tengco (pictured).

“Maybe within the month of July, I will already [be able to] make an announcement as to who our partner will be,” he added.

“Barring any unforeseen aspect and depending on the length of discussions or negotiations, I believe we will be able to launch casinofilipino.com in the last quarter of this year,” said the chairman.

The chairman added that launching Pagcor’s own online casino was “not contradictory” to the agency’s plan to privatise its operations.

Read more here: https://www.ggrasia.com/pagcor-onlin...launch-tengco/

[universal4]

gaming regulator's plan to launch its own online casino brand

Conflict of interest?

A regulator with financial interest in how they regulate themselves as well as their competition?

Rick
Universal4

[Hermski]

This is, of course, a conflict of interest.

Anyone who believes that the regulator in the Philippines - or anywhere else - is "regulating" in the interests of "player protection" should look at the bigger picture. It's always about the cash!

Another example, which can probably be applied anywhere, relates to the SEC over there wanting to block (and in some cases already are) IP access to well-known international crypto exchanges, just to push their own brands that nobody has heard of before (at least not in the wider context). I dare say you will find some interesting links if you look into the board structure of these local companies.

It's cronyism and always has been. Just my two cents (how will we say that when they've finally taken hard cash out of circulation?).

[satoshi nakamoto]

The casinos in the Philippines are very nice. Players from all over the world are already visiting the Philippines. Please visit the casinos in Okada Manila. You will have a great experience.

[ryuchen]

This is, of course, a conflict of interest.

[NoDepositCasinos]

If there's one thing you can't deny, it's that they're bold enough to confidently state in the same breath that they are the regulator and are planning to launch their own casino. I read the entire article hoping for an explanation, but all they mention is that it will bring 'more revenue for the Philippines.'

Existing operators shouldn't be surprised if, all of a sudden, licenses become harder to maintain or fees increase so much that, coincidentally, only a few players (guess who) remain in the market

[universal4]

I wondered some of the same things but you stated it pretty well.

Rick
Universal4