The Philippine Amusement and Gaming Corporation (PAGCOR) has warned that escalating tensions in the Middle East are beginning to weigh on the Philippine gaming industry, as surging fuel prices impact mobility, operating costs, and overall business activity.

Speaking during the 34th edition of Manila After Dark, organized by Inside Asian Gaming, PAGCOR Chairman and CEO Alejandro H. Tengco said the effects of the global oil crisis are already being felt across key gaming jurisdictions.

“This is not a good time for everyone,” Tengco stated, noting that even major markets such as Singapore, Macau, and the United States are experiencing similar pressures.

According to Tengco, the ripple effects extend beyond operators to impact the broader ecosystem of stakeholders, including suppliers, investors, and service providers. Higher fuel costs are reducing travel and consumer spending, directly affecting visitation and gaming revenues.

Despite these challenges, Tengco emphasized the importance of maintaining strong industry ties and open communication, particularly during uncertain times. Events like Manila After Dark, held at La Vie Resort and Casino, play a key role in fostering collaboration and sustaining business relationships.

“Coming together allows us to reconnect as partners and continue supporting each other, which is essential in times like these,” he said.

Looking ahead, Tengco confirmed that PAGCOR is prepared to adapt its strategy in response to evolving market conditions, with responsible gaming remaining a central priority.

“We have to be in tune with the times and ensure that responsible gaming stays at the core of our operations,” he noted.

He also addressed ongoing discussions around the potential separation of PAGCOR’s regulatory and commercial functions. The proposal is currently under review by the Governance Commission for GOCCs (GCG), with Tengco suggesting that approval for privatization could mark a transformative shift for the industry.

“If we get the approval to privatize, it will be a game changer,” he said.

Manila After Dark continues to serve as a key networking platform, bringing together regulators, operators, and industry leaders to exchange insights and navigate the challenges shaping the future of gaming in Asia.