Thursday, March 31, 2022

The Philippines is Setting to Become the Biggest Gambling Hub in Asia

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Southeast Asia’s gambling industry has been on the rise throughout the past decade. And although land-based gambling locations are commonly found throughout Asia, the industry has been doing exceptionally well in the Philippines. The Philippines is home to many attractions - its main gambling hub is dubbed Entertainment City.

As of now, the Philippines is one of the fastest-growing gambling hubs in all of Asia. Many travel there just for the casinos and resorts. But that does not stop there for the country as the Philippines may soon become Asia’s biggest gambling hub. 

 

What’s Next for the Country?

The country’s gambling industry has brought in significant amounts of revenue and business. Currently, the country has set its sights on further expanding its casino portfolio to possibly earn the position of the world’s biggest gambling venue.

The country has also seen a significant rise in its online casino department. Those looking to bet at the best live online casino sites in the Philippines can refer to this list of legitimate operators.

Recently, numerous casinos located in Cebu and Manila have experienced an inflow of gambling enthusiasts entering their premises. In addition, an increasing number of casinos have been sanctioned by PAGCOR (the Philippine Amusement and Gaming Corporation). As a result, these casinos have experienced an influx of gamblers.

This exponential growth has led to agreements between prominent casinos and game developers. It has also attracted the attention of the most popular entertainers to such venues. Many of such entertainers have also performed at resorts in that region, turning them into the most sought-out vacation getaways for those looking to gamble during their holidays.

One of the most noteworthy deals to have been struck involving the country’s casinos in recent years was the one finalized in February 2020. At that point, Electronic Gaming Equipment had also cut a deal with the JPark Palace Casino to supply their gaming machines to the locale. That deal was one of the many to have been made between casinos and game developers in the Philippines, signifying the location’s attraction to such corporations. 

With huge strides in the industry since then - very recently, Abbiati Casino Equipment also became a major supplier for the Hann Casino Resort. The Hann Casino Resort is a luxury integrated resort located in Clark.

The Philippines’ Gambling Foundation

Most of the success experienced by the Philippines’ gambling industry in recent years has mainly been linked to the involvement and efforts of PAGCOR. The organization is owned by the government of the Philippines, established in 1869. The establishment was created to evaluate new sources of revenue the state could make use of to enhance the country’s finances.

One way it was appointed as a field where the country’s government could earn profits was in the taxation and licensing of casinos. That plan had been executed in 1977. That was when a floating casino of sorts was built in Manila Bay. The casino saw success but was burned down two years after its initialization.

Four years later, several small-scale projects were funded by PAGCOR. Later in 2007, the organization issued licenses to run bingo halls and casino locations to several private operators. In addition, PAGCOR issued licenses to e-gaming cafes around that time as well.

The country has been seeing success ever since. The country now has above ten (and counting) renowned casinos operating throughout the country. This is highly remarkable when you compare it to the Philippines’ gambling industry’s main rival - Macau.

Macau is regarded as a hotspot for avid gamblers throughout Asia. It is also home to ten major casinos. This is the dichotomy of how effectively the Philippines’ stock has surged over the past ten years, owing to the efforts of PAGCOR.

Philippines Gambling Hubs

Entertainment City, also known as E-City, is the hotspot for gambling in the Philippines with attractions such as Solaire Resort & Casino, Genting Resorts World Bayshore, and the City of Dreams Manila. The location is a gambling strip spreading over a hundred acres, its design taking inspiration from Macau and Las Vegas.

The project’s formal name is Bagong Nayong Pilipino-Entertainment City, shortened to the current one. In addition, a total of four integrated resorts have been ratified to be established in E-City. The country also houses numerous privately-held gambling houses and casinos, operating under a PAGCOR license. The main benefit of E-City is that these casinos are in very close proximity to the NAIA (the Ninoy Aquino International Airport).

The country’s regulatory bodies have deemed it necessary for E-City investors to contribute a minimum of 1 billion USD to their facilities and infrastructure. They are also to follow a set ratio of gambling tables to hotel rooms. The gaming revenues acquired from E-City make up over 50% of the total gambling revenues in the Philippines. 

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