Asia

Gambling revenue hits record in the Philippines

Published

7 years ago

January 25, 2019

Niji Narayan

Gambling revenue hits record in the Philippines

Image Source: history.com

Reading Time: < 1 minute

The Philippines drive gambling revenue to a record this year. Andrea Domingo, chairman, Philippine Amusement and Gaming Corp told that Gross gaming revenue of the casino industry is expected to reach 217 billion pesos this year, up 8.5 per cent from a year earlier. “All the integrated casino resorts are doing very well,” Domingo added. Gross gaming revenue jumped 13 per cent to a record of roughly 200 billion pesos in 2018.

The Philippines is one of Asia’s fastest-growing gambling markets and its integrated casino-resorts have helped create jobs and generate tax and tourism revenue. There are nine private casino firms operating in the Philippines.

Domingo said she would not rest on her laurels given that other countries in the region now want to get a piece of the gambling pie. She also plans to meet Philippine President Rodrigo Duterte, who is opposed to gambling and updates him on threats faced by the gambling industry and socio-civic projects funded by the casino sector.

“The operators are threatened (by the growing competition). However, if you have critical mass (plenty of options) and a safe environment, gamblers will still be there,” Domingo explained.

Related Topics:

Up Next

Pennsylvania would not offer online sports betting during Super Bowl

Don't Miss

Junglee Rummy Joins Forces With Prashanth-starrer ‘Johnny’ and Malhar’s ‘Midnights With Menka’

Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.