Braced for new competition
The Philippine Gaming and Amusement Corp. estimates that gross gaming revenues in the country’s casino industry will grow 8.5 percent to PHP217 billion (US$4.1 billion) this year.
The sector saw a 13 percent spike in GGR in 2018 to about PHP200 billion, PAGCOR Chair Andrea Domingo recently told Reuters. According to the news outlet, the market is gaining on Singapore as Asia’s second-largest gaming market and has seen strong growth in VIP gaming.
“All the integrated casino resorts are doing very well,” Domingo said. She acknowledged that operators in the country are “threatened” by potential new competition in Japan, Vietnam and Cambodia, but added, “If you have critical mass and a safe environment, gamblers will still be there.”
There are nine private casino firms in the Philippines operating 1,580 gaming tables and almost 10,000 electronic gaming machines, according to government data. PAGCOR also operates several casinos totaling 470 tables and 9,679 gaming machines.
