188Bet has returned to the Philippines! This signifies a substantial vote of confidence in the current state of the nation’s administration.
You may recall that 188Bet relocated during the Duterte era. However, the Philippine Amusement and Gaming Corporation (PAGCOR) is now extending a warm welcome, ushering them back from their base in the Isle of Man.
This holds significant weight for the Philippines. It demonstrates that the gaming sector perceives a promising future within the country, particularly with PAGCOR implementing measures to entice investors. It appears the Philippines is poised to become a prominent contender in the international gaming arena.
Alejandro H. Tengco, the head of PAGCOR, is understandably elated. He views 188Bet’s comeback as a testament to the Philippines’ standing as a secure and effectively governed business environment.
Furthermore, he is eager to convey this message to other potential investors, assuring them that PAGCOR is committed to equitable treatment and maintaining transparent and dependable regulations.
188Bet will be conducting its operations under the umbrella of a newly established Philippine entity, BestCommerce Corporation, which has secured all the necessary clearances from PAGCOR.
This entire development aligns seamlessly with PAGCOR’s objective of transforming the Philippines into a highly sought-after destination for gaming investments.
The head of PAGCOR, Alejandro Tengco, recently declared that the Philippine gambling sector is set for substantial expansion in the coming five years. He predicts the inauguration of at least one new integrated resort (IR) annually, commencing this year. Quezon City is designated for the initial phase of these endeavors, succeeded by Cebu, Clark, and other key locales.
Tengco also revealed PAGCOR’s intention to completely divest its casino holdings within the same period. This action seeks to transform PAGCOR into a solely regulatory entity, concentrating on supervising the industry’s progress and enticing further capital.
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