188Bet, a leading name in online gambling, is staging a major comeback in the Philippines. This calculated decision follows the company’s previous office relocation from Makati under the former government.
The nation’s gaming authority, the Philippine Amusement and Gaming Corporation (PAGCOR), has enthusiastically embraced 188Bet’s choice to shift its operations back from the Isle of Man. This action is broadly perceived as a substantial endorsement of the Philippines’ reinvigorated gaming sector and its regulatory framework.
PAGCOR Chairman and CEO Alejandro H. Tengco lauded 188Bet’s return as proof of the Philippines’ pledge to deliver a safe and dependable regulatory structure for gaming enterprises. He stressed PAGCOR’s commitment to cultivating fair competition for all stakeholders and guaranteeing a stable and credible regulatory system.
Operating under the newly formed Philippine entity, BestCommerce Corporation, 188Bet has obtained the required licenses and regulatory clearances from PAGCOR. This progression aligns seamlessly with PAGCOR’s continuous endeavors to draw significant gaming investments to the Philippines.
The head of PAGCOR holds a positive outlook on the prospects of the Philippine casino sector. He foresees sustained expansion over the coming five years, anticipating the inauguration of at least one new Integrated Resort (IR) annually. Quezon City leads the pack, succeeded by Cebu, Clark, and other locales of strategic significance.
Concurrently, PAGCOR aims to divest itself of all its casinos within the same period. This strategic move will enable them to dedicate their full attention to overseeing the industry, fostering its growth, and drawing in additional investment.