188Bet is staging a return to the Philippines! This action indicates a restored belief in the nation’s governing framework, particularly after their choice to shift their Makati headquarters during former President Rodrigo Duterte’s tenure.
The Philippine Amusement and Gaming Corporation (PAGCOR) is delighted to have 188Bet back. Transferring their business from the Isle of Man back to the Philippines is a significant event for the sector here. It demonstrates that businesses are optimistic about the trajectory of the regulatory environment, especially with the proactive measures PAGCOR has been implementing. It appears the Philippines is poised to welcome a flourishing and investor-welcoming gaming sector.
PAGCOR’s Chairman and CEO, Alejandro H. Tengco, views this as a substantial endorsement of the Philippines as a premier gaming jurisdiction. “188Bet’s comeback is a strong reaction to our invitation to invest in the Philippines,” Tengco stated. “We want to guarantee 188Bet and other prospective investors that PAGCOR will persist in establishing equitable conditions for all while ensuring a stable and dependable regulatory atmosphere.”
188Bet will function under a new Philippine entity called BestCommerce Corporation, which has been completely authorized and overseen by PAGCOR since March 19th. This move by the well-known sports wagering and casino enterprise aligns seamlessly with PAGCOR’s endeavors to draw increased gaming investment to the Philippines.
Tengco, the head of the organization, expresses strong confidence in the Philippine gaming sector. He foresees ongoing growth over the coming five years, with a minimum of one Integrated Resort (IR) launching each year. Quezon City leads the way in welcoming these new ventures, followed by Cebu, Clark, and other key areas.
He also emphasized PAGCOR’s intention to completely relinquish its casino businesses within the same period. This action will reshape PAGCOR into a solely regulatory entity, concentrating on supervising industry expansion and drawing in additional investments.