The proliferation of casinos across Asia has contributed to the stereotype that Asians are heavy gamblers. Macau dominates the region’s gaming industry, and the tourism associated with it is the city’s primary source of income.
More and more Asian countries are gearing up for a revenue share race. The Philippines’ casino business is now booming, evident by the number of best online casino Philippines sites, with ambitious plans to expand locally and eventually internationally. In this article, we’ll talk about the gambling industry in the Philippines.
Taking Advantage of the Demand
With so many new casinos coming, the Philippines is poised to become a major gambling hub. Other countries want to reap the economic benefits of Macau’s decline. The downfall of Macau’s gaming industry can be attributed to the Chinese government’s crackdown on the territory.
Many new casinos and gambling venues have recently opened in Manila. Its 2014 revenue of $2.5 billion was up 16% from the previous year.
2015 is predicted to be another prosperous year for the market, with double-digit expansion predicted. The sector is predicted to expand by 20% over the next three years.
Paving the Way for New Opportunities
By 2018, this market is expected to generate $6 billion in sales. This will not only propel the Philippine economy forward but also place the country among the top four global players.
Cities like Cebu and Subic, both popular tourist destinations, are also poised to get investment in addition to Manila. PAGCOR claims that your chances of being granted a license improve significantly once you leave Metro Manila.
Benefitting from Revenue Increase
Over the past decade, the gambling sector in the Philippines has attracted both international and local companies, resulting in the construction of numerous large-scale casinos and resorts. In 2020, the government estimated that around 27,000 people would be working in the gambling and betting industries.
Gross gaming revenue (GGR) in the local gambling business almost doubled to P214 billion last year, thanks to greater capacity for operations as the economy further developed. State-run Philippine Amusement and Gaming Corp. (PAGCOR) figures reveal that GGR in the industry jumped 90 percent last year, from P113.09 billion in 2021 to P214.34 billion.
The Philippines’ Gambling Hotspots
When it comes to casinos in the Philippines, nobody beats Entertainment City, sometimes known as E-City. It’s a casino district on 100 acres, styled after Las Vegas and Macau. Bagong Nayong Pilipino—Entertainment City is the project’s official name.
In addition, three out of four proposed integrated resorts in E-City have been cleared for development. Many private casinos and gambling establishments also hold PAGCOR licenses. E-City’s casinos are convenient because of its proximity to the Ninoy Aquino International Airport (NAIA).
E-City investors must spend a minimum of $1 billion on infrastructure and facilities, as mandated by Philippine regulators. They are also obligated to maintain a fixed number of gaming tables per number of hotel rooms.
The Rise of Online Gambling Websites in the Philippines
The popularity of the best online casinos in the Philippines has increased as a direct result of the ease and availability they provide. They allow Filipinos to enjoy their favorite casino games from the comfort of their own homes.
In addition, the games, odds, and bonuses available on these sites are superior to those found in brick-and-mortar establishments. To top it all off, the best online casino Philippines sites have implemented the latest in interactive gaming software.
These systems offer a full, player-focused gambling experience, from high-definition live dealer games to quick, reliable payment options.
Growing supply and fierce rivalry have led to the Philippines’ gambling industry reaching maturity. With some large firms already battling aggressively and room for others to enter, it’s easy to see how the Philippine gambling market might quickly become saturated if the current trend continues.
The best online casino Philippines websites are set to further expand the gaming landscape in the country, so, now’s the best time to sign up for an account today!