Philippines Q3 GGR Drop Tied to Compliance Measures
Highlights
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Alejandro Tengo of the Philippine Amusement and Gaming Corp has said that the third-quarter gaming revenue dip was inevitable.
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PAGCOR has introduced a new policy that prioritizes consumer safety.
In the G2E Asia @ the Philippines conference, Alejandro Tengo of the Philippine Amusement and Gaming Corp has opined that the dip in third-quarter gaming revenue was the result of improved regulatory standards.
Additionally, he also stated that “This includes the ongoing transition towards stronger financial safeguards for legitimate online gaming operators.” These steps comprise the delinking of e-wallets used for iGaming transactions. PAGCOR has prohibited the use of credit cards and cryptocurrencies to nullify the traits of overbearing and impulsive behaviour.
Tengco agreed that these reforms inevitably have short-term impacts. At the same time, he insisted on the fact that stricter regulations showcase industry commitment to long-term growth. The regulator has signed a deal with the AD Council to screen gambling-related ads before they go live.
This is primarily to restrict misleading content and safeguard vulnerable users from potential harm. Furthermore, license operators must incorporate responsible gambling tools like self-exclusion options and betting limits.
Tengco concluded by saying, “The future of gaming will demand regulatory agility, industry cooperation and a shared commitment to integrity. Players should always feel that their safety and well-being remain at the core of our policies.”
To know the full news story, Read Here!
Additionally, he also stated that “This includes the ongoing transition towards stronger financial safeguards for legitimate online gaming operators.” These steps comprise the delinking of e-wallets used for iGaming transactions. PAGCOR has prohibited the use of credit cards and cryptocurrencies to nullify the traits of overbearing and impulsive behaviour.
Tengco agreed that these reforms inevitably have short-term impacts. At the same time, he insisted on the fact that stricter regulations showcase industry commitment to long-term growth. The regulator has signed a deal with the AD Council to screen gambling-related ads before they go live.
This is primarily to restrict misleading content and safeguard vulnerable users from potential harm. Furthermore, license operators must incorporate responsible gambling tools like self-exclusion options and betting limits.
Tengco concluded by saying, “The future of gaming will demand regulatory agility, industry cooperation and a shared commitment to integrity. Players should always feel that their safety and well-being remain at the core of our policies.”
To know the full news story, Read Here!
