PAGCOR, CEZA not in competition, says chairman

Alejandro Tengco, Chairman and CEO of PAGCOR, made it clear that his company does not compete with the Cagayan Economic Zone Authority (CEZA). Instead, he stressed that there are certain problems where cooperation between the two regulatory bodies is possible. Tengco’s comments were in reaction to Katrina Ponce Enrile, CEO of CEZA, who recently criticized PAGCOR for managing offshore gaming operators (POGOs) when they were embroiled in controversy.

Tengco underlined that PAGCOR and CEZA had separate geographic jurisdictions and duties without directly responding to Enrile’s complaint. He said that when it’s essential, the two of them collaborate closely. Although CEZA only regulates gambling in the region in which it works, licensed operators are only allowed to operate there.

Tengco also stressed that PAGCOR is the Philippines’ only national regulatory authority. The CEZA is confined to certain freeport regions, as are other regulating organizations like the Aurora Pacific Economic Zone and Freeport Authority (APECO) and the Authority of the Freeport Area of Bataan (AFAB).

He pointed out that licensees under CEZA’s authority are affected by infrastructural concerns CEZA has, such as poor internet access during bad weather. According to Tengco, there is opportunity for improvement in this area.

Tengco preferred the Philippine regulatory paradigm under which PAGCOR serves as the major national gambling regulator. He said that having several regulators under one jurisdiction might be more difficult and ineffective than having a single regulatory framework.

Tengco also revealed PAGCOR’s future goals, which include fundamental changes to its charter like the transfer of all of its casinos. In order to establish the Philippines as the benchmark for Asian gaming and a prominent worldwide gaming destination, he voiced confidence in PAGCOR’s ability to develop into a vibrant, lucrative, and focused regulatory body. The growing number of integrated resorts and casinos being built in the US is consistent with this concept.

Original story by: IAG