188Bet has returned to the Philippines! This is a significant development for the Philippine gaming sector, demonstrating renewed faith in the nation’s regulatory landscape.
188Bet had relocated its operations from Makati under the previous government, but their recent return from the Isle of Man, warmly embraced by the Philippine Amusement and Gaming Corporation (PAGCOR), speaks volumes.
PAGCOR Chairman Alejandro H. Tengco views this as a substantial endorsement, emphasizing the Philippines as a secure and dependable center for gaming activities. He stressed PAGCOR’s dedication to impartiality, equitable competition, and a transparent regulatory structure.
Operating under the newly established Philippine entity, BestCommerce Corporation, 188Bet will be fully accredited and overseen by PAGCOR. This action aligns seamlessly with PAGCOR’s ongoing initiatives to draw gaming investments to the Philippines.
The message is unambiguous: the Philippines is prepared to conduct business and poised to reclaim its status as a prominent participant in the international gaming arena.
The head of PAGCOR predicts consistent expansion for the Philippine gaming sector over the coming five years. He expects a minimum of one new integrated resort (IR) to launch annually, commencing in Quezon City, then proceeding to Cebu, Clark, and other key areas.
Concurrently, PAGCOR intends to completely divest its casino holdings within the same period. This shift will enable them to transform into a solely regulatory body, concentrating on supervising industry development and drawing additional investment.