The Philippine Amusement and Gaming Corporation (PAGCOR) has made a statement asserting that it sees no threat in the rise of online casinos in the country. In a press release issued on Tuesday, the regulatory body, which oversees all forms of gambling in the Philippines, including land-based casinos, online casinos, and sports betting, emphasized that the growing popularity of online casinos does not pose a danger to the industry as a whole.
PAGCOR Chairman and CEO Andrea Domingo stated, “We do not view online casinos as a threat to our operations. Instead, we see them as a complementary offering that can help to attract a new segment of players to the industry. Online casinos provide a convenient and accessible way for players to enjoy their favorite casino games from the comfort of their own homes, and we believe that this can help to grow the overall market for gambling in the Philippines.”
The statement comes at a time when online casinos are experiencing a surge in popularity in the Philippines, with more and more players opting to gamble online rather than visit traditional land-based casinos. This trend has been accelerated by the COVID-19 pandemic, which has forced many brick-and-mortar casinos to close their doors or operate at reduced capacity.
Despite the rapid growth of the online casino industry, PAGCOR remains confident in its ability to regulate and oversee the sector effectively. The regulatory body has implemented strict rules and regulations to ensure that online casinos operate in a safe and secure manner, and it conducts regular audits and inspections to monitor compliance with these regulations.
Domingo added, “We are committed to maintaining the integrity of the gambling industry in the Philippines and protecting players from fraud and exploitation. We have stringent measures in place to prevent money laundering, underage gambling, and other illegal activities, and we work closely with law enforcement agencies to prosecute offenders.”
In addition to regulating online casinos, PAGCOR also operates its own online gambling platform, which offers a wide range of casino games and sports betting options to players in the Philippines. The platform is licensed and regulated by the regulatory body, giving players peace of mind that they are gambling in a safe and secure environment.
Overall, PAGCOR’s stance on online casinos underscores the organization’s commitment to promoting a responsible and sustainable gambling industry in the Philippines. By embracing online casinos as a valuable addition to the sector, PAGCOR aims to attract a wider audience of players and drive further growth in the market, all while ensuring that players are protected and supported.
