In this interview with CalvinAyre.com’s Becky Liggero, Mor Weizer of Playtech explains why companies should be expanding to more regulated markets.
Creating a harmonious gambling jurisdiction doesn’t just happen overnight and its success doesn’t lie only in the hands of the regulator or with gambling operators alone. Both the operators and regulators need to collaborate to reap the full potential of the industry.
Operators know their customers and business concerns better than regulators. This is especially true in a new or emerging market. On the other hand, regulators may provide a level playing field and safe environment for gambling operators.
PlayTech‘s Weizer pointed out that both operators and regulators share the same level of responsibility in ensuring a healthy and vibrant gambling industry. Weizer said collaborating with regulators to establish a certain framework and finding a common ground may be considered smart business.
“We think we sit in a very convenient position for regulators because we are not trying to shift it in any specific way,” Weizer told CalvinAyre.com. “Obviously I do think there is merit in combining efforts between jurisdictions and when we are being asked about how we can advise, how we can contribute, we are more than happy to sit down with regulators and contribute to the process, and share our experience in the last couple of years, providing poker to various and some of the largest poker operators worldwide.”
In the case of PlayTech, Weizer said that they are now expanding in a more regulated market and moving away from more gray areas over the last few years. He believes that the gambling trend is heading toward the regulated market.
Weizer said that they want PlayTech to be in of the front line and playing a key role when this happens.
“This is our intention and obviously this is the thing that you see at PlayTech for the last few years. We are focused only on the regulated market,” he said. “We are still successful with some that still do business with some other soon-to-be regulated jurisdictions, but the trend is very, very clear. Playtech intends to play a key role in that, and all our focus these days is on regulated markets.”
He mentioned Philippines as one of the regulated jurisdictions, which recently saw changes in its gambling policy. Under Philippine President Rodrigo Duterte’s watch, PAGCOR will be the sole agency to issue gambling licenses.
For Weizer, the Philippines’ new policy is rather positive for the gambling industry.
“We believe that first, we only provide games through the Philippines to other markets. It is still a valid and very important jurisdiction for us and we believe that the given changes that occurred recently with PAGCOR becoming involved, which is the formal regulator in the Philippines, is actually very positive news for the industry all together,” he said.