2024/03/22 / Last updated : 2024/03/22 東京支店 blog

PHILIPPINES ACCELERATES CASINO DEVELOPMENT, INVESTS $6 BILLION OVER NEXT FIVE YEARS

Philippine Amusement and Gaming Corp. Chairman Alejandro Tengco said domestic and foreign companies plan to invest up to $6 billion over the next five years to develop casinos in the country. It is revealed that at least one new casino resort is expected to open every other year, including in Clark, a suburb of Manila, and Cebu Island.

According to Tenko, the Philippines’ total casino revenue (the amount bet by players minus winnings) is expected to increase from a total of 450 billion pesos (approximately 1.2 trillion yen) to 500 billion pesos (approximately 1.35 trillion yen) by 2027. This is one year earlier than the target. Last year, it reached a record high of 285 billion pesos (approximately 770 billion yen).

Although the number of high rollers (casino customers who bet large sums of money) visiting from mainland China has decreased due to the impact of the new coronavirus and stricter regulations on “junkets” that mediate gambling activities with wealthy people, the number of high rollers (casino customers who bet large amounts of money) from Japan, South Korea, and Singapore. casino customers and the general public in Japan are said to be filling the gap. Last year, companies such as Bloomberry Resorts in the Philippines and Universal Entertainment in Japan posted strong results.