The Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO, Alejandro H. Tengco, addressed crowds at a recent event regarding the ongoing tensions in the Middle East.
The international conflict has increased fuel prices around the world, which has put a strain on businesses and customers alike.
Tengco opened up by addressing this immediately: “This is not a good time for anyone.
“Gaming jurisdictions globally are feeling the impact of the oil crisis, and even more progressive countries like Singapore, Macau, and the United States are not spared.”
Even verticals where customers do not directly engage with fuel as part of the business model, such as food and clothes retail stores, are still being affected due to stock transport lines.
Still, Tengco stressed the importance of maintaining engagement across the sector, especially during periods of uncertainty.
He continued: “Being together like this makes us forget, even for a while, the challenges we face.
“It allows us to rekindle relationships—whether as clients, suppliers, or partners—and that is important, especially in difficult times.
“It is important that we come together, that we continue these conversations, and that we support each other as an industry.”
He also noted that international crises are no excuse for standards to slip in business.
Tengco said: “At PAGCOR, we will adjust what we need to do.
“We have to be in tune with the times and ensure that responsible gaming remains at the centre of what we do.”
Finally, he explained that PAGCOR is still considered a Government-Owned or Controlled Corporation (GOCC), and that it is still waiting for the Governance Commission for GOCCs (GCG) to review its plan to split its regulatory and commercial roles.
Tengo concluded: “Many are asking for the decoupling, and we are awaiting the decision of the GCG. If we get the approval to privatise, it will be a game-changer.”
PAGCOR recently celebrated its leaders and loyal employees as part of its Women’s Month
