Thread: Philippines sees up to $6 bln of investments in casino sector in next 5 years

Foreign and domestic firms are expected to invest much as $6 billion in the Philippines' casino sector in the next five years, the head of its gaming regulator said, bolstering its status among Asia's top gambling destinations as competition increases.


At least one new casino-resort will open every other year including in areas outside Manila like Clark, a former U.S. military base north of the capital, and Cebu in the country's central region, Philippine Amusement and Gaming Corp Chairman Alejandro Tengco said on Tuesday.


"We will have continued growth because of the opening of new casinos and the expansion in the electronic gaming segment," Tengco told Reuters at the sidelines of the ASEAN Gaming Summit.

Tengco said the Philippines would likely hit its target of 450 billion to 500 billion pesos ($8-9 billion) in total gross gaming revenue (GGR) by 2027, a year earlier than expected.


In 2023, the Philippines posted a record 285 billion pesos in total GGR, a key industry metric representing the amount players wager minus their winnings, government data showed.


Gamblers from Japan, South Korea and Singapore, and domestic mass market players took up the slack from the absence of mainland Chinese high-rollers after the pandemic and tightening of rules on junkets.


That allowed casino resort operators like Bloomberry Resorts BLOOM.PS and Japan's Universal Entertainment 6425.T, and units of Philippine conglomerates SM Investments SM.PS and Alliance Global Group AGI.PS to post strong performances last year, Tengco said.


The Philippines' freewheeling gaming industry is bracing for regional competition from Japan, which has approved its first casino, and Thailand, which is again considering legalising casinos.


"We have about five to six years to fortify and solidify so when they open, we are mature already," Tengco said.

Philippines sees up to $6 bln of investments in casino sector in next 5 years | Taiwan News | 2024-03-19 2104

The casino here is just an old abandoned building now, I don't think it's been open for over a decade.

^Topper, Bacolod isn't really a place for high rollers.

There are lots of casinos in Pasay City (Metro Manila) near SM Mall of Asia (example Resorts World, City of Dreams, East Ocean Palace, Okada casino-hotel). Okada is Japanese owned. East Ocean Palace is Chinese owned.

There's also Casino Filipino branches along Roxas Boulevard (Manila) and a branch in Tagaytay (~1.5 hrs from Manila).

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I've only been inside Okada, to watch a Christmas lights/ fountain show. The others, I've seen from the highway.

There are still some online casinos run by Chinese, AFAIK.

Originally Posted by katie23

^Topper, Bacolod isn't really a place for high rollers.

Feel the burn.

Even the word sounds like it's related to Lumbago.

^for me, Bacolod, Iloilo & Dumaguete cities are like Udon Thani or Khon Kaen. They're cities but in the province. In TH, the business & financial centers are in Bangkok; in PH they're in Metro Manila.

Disclaimer: I've been to BKK & Udon Thani, Khon Kaen I've only seen in vids. I've been to Iloilo & Bacolod cities but not to Dumaguete (which is expat-land in the Visayas/ central region).