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Philippines regulator expects record revenue despite increased competition

Gross gaming revenue (GGR) in Philippine casinos is expected to grow 9% year-on-year to 217bn pesos ($4.1bn) in 2019.

PAGCOR

Andrea Domingo, Philippine Amusement and Gaming Corporation (PAGCOR) Chairperson, has informed Reuters of the projections and says "all integrated casino resorts are doing very well."

In 2018, GGR grew 13% to reach approximately 200bnn pesos, marking the Philippines out as one of Asia's fastest-growing gaming countries.

However, Domingo has warned of increased competition from within the continent; Japan approved new laws on Integrated Resorts last year, while Cambodia and Vietnam have also invested in gaming.

In Macau meanwhile, casinos generated GGR of MOP302.85bn ($37.85bn) in 2018; a 14% increase.

A further obstacle facing the Philippine gaming industry is President Rodrigo Duterte’s opposition to gambling.

But Domingo plans to meet with the President, discussing the benefits of a successful gambling sector and the risk of losing revenue to neighbouring nations.


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