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Gambling revenue hits record in the Philippines

Niji Narayan

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Gambling revenue hits record in the Philippines
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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.

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