Rising fuel costs now weighing on Philippine gaming industry—Pagcor

Second-round effects of surging energy costs are filtering through the Philippine gaming industry, as business activity begins to bear the brunt of elevated fuel prices caused by Middle East tensions. Philippine Amusement and Gaming Corp. (Pagcor) Chairman and Chief Executive Officer (CEO) Alejandro H. Tengco reported that the impact of rising fuel costs is already “visible on the ground,” weighing heavily on mobility and general business activity. Tengco said the current economic strain is a shared global experience, affecting even the most established markets. “This is not a good time for everyone,” Tengco said during the 34th Manila After Dark networking event last Tuesday, April 14. “Gaming jurisdictions globally are feeling the impact of the oil crisis, and even more progressive countries like Singapore, Macau, and the United States (US) are not spared,” Tengco noted. He said these external pressures are not limited to large-scale operations but are affecting the entire ecosystem, including local industry stakeholders. To navigate these “difficult times,” Tengco stressed the need for industry engagement. “It allows us to rekindle relationships—whether as clients, suppliers, or partners—and that is important, especially in difficult times,” he said. Tengco emphasized that continued collaboration is important for the gaming industry to remain resilient. He further committed that the regulator would remain flexible in its strategy: “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 center of what we do.” Meanwhile, the industry is closely watching a potential shift in Pagcor’s structure. Tengco confirmed that the Governance Commission for GOCCs (GCG) is currently reviewing a proposal to separate the agency’s regulatory and commercial functions. “Many are asking for the decoupling, and we are awaiting the decision of the GCG,” he said. “If we get the approval to privatize, it will be a game changer,” the Pagcor chief added.