AGB was honored to be one of the organizing partners for the first ever East meets West Regulators Summit held this weekend in the Philippines. Hosted by the Philippine Gaming Corporation (PAGCOR) and Cagayan Economic Zone Authority (CEZA) and supported by First Cagayan Leisure & Resorts Corporation (FCLRC), the International Association of Gaming Regulators (IAGR) and the International Masters of Gaming Law (IMGL), ten countries were represented, with regulators from Australia, Cambodia, Germany, Malta, the Philippines, South Korea and Singapore participating.
The summit was officially opened by President of IAGR, Mr Lau Peet Meng, followed by a welcome address by PAGCOR chairman and CEO, Mr Cristino L. Naguiat. Delegates were treated to a tour of Resorts World Manila and Entertainment City, then dinner at Solaire Resort & Casino. The following day delegates transferred to the Shangri-La Boracay which provided the perfect island setting for further discussions and talks, including debates on cross border communication, reciprocity of license recognition, locals versus foreigners, remote gaming and anti-money laundering.
Mr Naguiat acknowledged the need for order in gaming regulation and said that regional cooperation should provide a framework for uniformity in probity checks, an approach to AML that is tailored to the casino industry, crime mitigation and the adoption of robust responsible gaming principles.
The summit concluded yesterday with a call by PAGCOR President and COO Mr Jorge Sarmiento for regulators to embrace new technology, to be held accountable and responsible for their activities, and be wary of the coercive power of the state. He declared that this was a hugely auspicious start for the summit which paved the way for meaningful dialogue and cooperation among the emerging jurisdictions in Asia.
Plans are already underway for a follow up to the summit and AGB will bring you news of that as well as a thorough review of the topics discussed at the summit later this week.