Philippine gaming chief says Thailand casino push a ‘big threat’
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Thailand’s Cabinet has approved a draft law that would legalise gambling and casinos.
PHOTO: REUTERS
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MANILA – Thailand’s plan to legalise casinos
The Philippines’ gross gaming revenue may reach 450 billion pesos (S$10.4 billion) to 480 billion pesos in 2025, driven by a recovery in integrated resorts and booming electronic-games, Philippine Amusement and Gaming Corp (Pagcor) chairman and CEO Alejandro Tengco told reporters on Feb 26.
Revenue reached 410.5 billion pesos in 2024, an all-time high, he said.
That makes the Philippines the No. 2 gaming destination in Asia after industry leader Macao, Mr Tengco said. But he warned that regional competition is increasing and the Philippines risks losing out to Thailand.
Thailand’s tourist arrivals which dwarf the Philippines’ gives it an advantage in drawing gamblers and investors.
“It’s a big threat,” Mr Tengco said, adding that Japan also plans to open a casino in Osaka,
Pagcor, as the agency is known, must shape up and proceed with a plan to sell its dozens of small state-owned Casino Filipino outlets so it can focus on its role as industry regulator, he said.
“By decoupling, we will be able to show the world that we are fair. That there is no conflict of interest,” Mr Tengco said. The privatisation process may start next year, he added. Bloomberg
