The Philippine Amusement and Gaming Corporation (PAGCOR) has expressed its enthusiasm over 188BET’s decision to relocate its operations from the Isle of Man back to the Philippines. This move is seen as a significant endorsement of the Philippines’ potential as a regulatory haven for the gaming industry. 188BET, which previously had its office in Makati, left the Philippines during the term of former President Rodrigo Duterte. Its return marks a new chapter in the country’s gaming industry.
Alejandro H Tengco, PAGCOR’s Chairman and CEO, highlighted the importance of 188BET’s return. “This move by 188BET shows a strong vote of confidence in our country’s regulatory environment, something PAGCOR has been diligently working to enhance,” Tengco stated. He further emphasized the commitment of PAGCOR to maintaining a fair and equitable playing field for all investors, underpinned by a stable and reliable regulatory framework.
Earlier this week, 188BET announced its plan to transfer operations to the Philippines. Starting March 19, Cube Limited will relinquish its Io MGSC licence in the Isle of Man, and BestCommerce Corporation, a new entity based in the Philippines and licensed by PAGCOR, will take over the operations of 188BET.
Tengco sees this as an opportunity for more investors to join the growing Philippine gaming sector. He outlined the bright future of the industry, with plans to open at least one integrated resort (IR) annually, starting this year in Quezon City, followed by other projects in Cebu, Clark, and more strategic locations.
Moreover, Tengco shared plans for PAGCOR to fully transition into a regulatory body, stepping away from casino operations to focus solely on fostering industry growth and attracting further investment. Part of this strategy includes reducing license fees and upgrading systems to set the Philippines as the premier gaming destination in the Asia-Pacific region.
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