PAGCOR is excited about the potential of the e-gaming sector in the Philippines. Alejandro H. Tengco, the organization’s chairman and CEO, said he is optimistic about the growth of the electronic gaming industry and expects its growth to exceed that of land-based casinos. He noted that the privatization plan is expected to be implemented by the end of 2025 and will allow PAGCOR to focus on its regulatory role and thus devote more energy to the electronic gaming sector, which is considered one of the main sources of revenue.

Highlighting the exponential growth in the electronic gaming sector, Tengco said electronic gaming, e-casinos and sports betting are becoming important parts of the gaming industry, growing by nearly 100% last year. In addition, PAGCOR also plans to reduce licensing rates to promote the continued development of the industry. They have announced that they will reduce the license fee to 35% starting from April 1st, which is a positive sign for attracting more operators.

Although PAGCOR faces regulatory challenges, they are committed to solving the problems of intermediary business and working hard to get out of the FATF gray list. Tengco said it has established an internal anti-money laundering team that actively coordinates with the Philippine Anti-Money Laundering Commission to ensure compliance with international standards. They recognize the importance of addressing these issues to ensure the stability and sustainable development of the industry.

PAGCOR leaders stressed the importance of transparency and commitment to attract more investors. Tengco said it has done away with the bureaucracy that existed in the past and that cooperation with regulators has become smoother. These efforts will help enhance the Philippines’ position in the Asian gaming market.

Overall, PAGCOR is confident about the future of the Philippine e-gaming industry and they will continue to work hard to promote the development of the industry and ensure its competitiveness on the international stage. With the implementation of privatization plans and increased regulatory efforts, the Philippines is expected to become the leader in Asia's gaming market.