Philippines Says It Can Overtake Singapore As Asia’s No. 2 Casino Hub

The Philippines can overtake Singapore as soon as next year as Asia’s second-largest gambling destination after Macau, the head of Manila’s gaming agency said, with new integrated resorts seen boosting visitors and offsetting a decline in Chinese tourist arrivals.

A new integrated resort by billionaire Enrique Razon’s Bloombery Resorts Corp. will open in Manila later this year, while up to eight more casino projects are being planned, Alejandro Tengco, Chairman and Chief Executive Officer of state regulator Philippine Amusement and Gaming Corp., or Pagcor, said in an interview at his office on Tuesday. The regulator also plans to sell state-run casinos by no later than early 2026, he said.

“If Singapore doesn’t expand, they will plateau. Don’t be surprised if next year we will surpass them,” Tengco said. The Philippines expects gross gaming revenue to reach a new high of 336 billion pesos ($6.1 billion) this year, up from last year’s record 285 billion pesos.

Singapore’s Gambling Regulatory Authority said it has no comment when Bloomberg News asked regarding Tengco’s remarks and referred to the financial statements of Genting Singapore Ltd and Las Vegas Sands Corp for the revenues of the two integrated resorts in the city-state.

Tengco estimates Singapore’s annual gross gaming revenue to be around $6 billion.

Manila is counting on its integrated resorts and casinos to help boost tourist arrivals hit hard during the Covid pandemic. This year, the country is targeting 7.7 million foreign tourists after drawing in 5.45 million in 2023, still below the pre-pandemic level of 8.26 million in 2019.

The nation’s future casinos, which can cost up to $1.2 billion, will be in the capital Manila and at the former US airbase Clark, as well as in tourist magnets like Cebu and Boracay, he said. “As you open new markets, new customers will come,” he said.

Slower Chinese tourist arrivals will not hinder the industry’s growth, Tengco said, with Philippine casinos mostly drawing in locals and those from South Korea, Japan, Malaysia and Singapore.

Chinese tourist arrivals to the Philippines dropped last year to just 15% of 2019 levels, according to government data. The decline comes at a time when tensions between the Philippines and China over territorial disputes in the South China Sea have escalated in recent months.

With the Philippines’ gaming revenue rising, new integrated resorts will “hopefully neutralize the decline in Chinese tourist arrivals,” said Tengco, adding that Chinese high rollers are still playing in the country.

Top-rated Sites
BK8 Malaysia | Best Betting Site Malaysia | Best Sports Betting Site Malaysia | Best Online Casino Site Malaysia
BK8 Malaysia

Official Partner of Aston Villa F.C. & Crystal Palace F.C.
✓ Highest Reputation in Malaysia
✓ Free MYR 200 as Your First Bet
✓ MYR 6,888 Weekly Rescue Bonus

12PLAY | Best Betting Site Malaysia | Best Sports Betting Site Malaysia | Best Online Casino Site Malaysia
12PLAY

Features in Bloomberg & Yahoo Finance
✓ Welcome Bonus Up to MYR 588
✓ Lucky Draws to Win Attractive Prizes
✓ Focus on Malaysia & Singapore Market

W88 | Best Betting Site Malaysia | Best Sports Betting Site Malaysia | Best Online Casino Site Malaysia
W88

Principal Partner of Burnley F.C.
✓ Cash Rebate up to 1%
✓ Excellent Customer Support
✓ Support Multiple Languages

M88 | Best Betting Site Malaysia | Best Sports Betting Site Malaysia | Best Online Casino Site Malaysia
M88

Official Partner of Spanish La Liga
✓ High Reputation in UK & Asia
✓ Various Payment Options
✓ MYR 388 Sports Welcome Bonus