A major online gaming platform, 188Bet, has prominently returned to the Philippines, demonstrating renewed faith in the nation’s regulatory environment. This action follows the company’s previous choice to shift its offices from Makati under the former administration.

The Philippines’ gaming authority, PAGCOR, has enthusiastically embraced 188Bet’s move to transfer its operations back from the Isle of Man. This choice represents a significant turning point for the Philippine gaming sector, indicating a resurgence of confidence in the regulatory framework. With the current upward trend and PAGCOR’s proactive steps, the Philippines seems well-positioned for a flourishing and investor-welcoming gaming industry.

PAGCOR’s Chairman and CEO, Alejandro H. Tengco, sees 188Bet’s return as a powerful endorsement of the Philippines as a dependable regulatory safe haven. He further stressed that 188Bet’s decision is a favorable response to PAGCOR’s endeavors to draw gaming investments to the Philippines. Tengco reassured 188Bet and other prospective investors that PAGCOR is dedicated to upholding fairness and providing equitable opportunities for all participants. He emphasized PAGCOR’s commitment to ensuring a stable and reliable regulatory structure.

188Bet intends to function under a new Philippine entity named BestCommerce Corporation, which has obtained the required licenses and regulatory clearances from PAGCOR, commencing March 19th. This strategic move by the sports wagering and casino operator aligns seamlessly with PAGCOR’s ongoing efforts to attract gaming investments to the Philippines.

The head of PAGCOR, Andrea Domingo, foresees consistent expansion for the Philippine gaming sector over the coming five years. He expects a minimum of one new integrated resort (IR) to launch annually, commencing with the eagerly awaited development in Quezon City this year. Subsequent to Quezon City, Cebu and Clark are scheduled for construction, in addition to other tactically selected sites.

Domingo further revealed PAGCOR’s intention to completely divest from its casino enterprises within the identical period. This shift will enable PAGCOR to concentrate solely on its function as industry overseer, fostering growth and drawing additional investment into the Philippine gaming market.