Thailand's casino legalization threatens Philippines' gaming industry
Thailand's plan to legalize casinos poses a significant threat to the Philippines' gaming industry, potentially displacing it as Asia's second-largest gambling hub.
Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), noted that while the country's gross gaming revenue hit an all-time high of PHP410.5 billion last year, Thailand's booming tourism sector with 7 million international visitors in 2024 could draw both gamblers and investors away from the Philippines.
Tengco emphasized that Pagcor will implement stricter regulations, introduce modern slot machines, improve the regulatory environment to attract investments, and decouple its roles as a casino operator and regulator by 2026.
Pagcor aims to focus solely on regulatory functions moving forward to ensure fairness and eliminate conflicts of interest, with plans to sell numerous state-owned Casino Filipino outlets.
The gaming sector is projected to post record revenues this year, reaching between PHP450 billion and PHP480 billion, driven by the booming online gaming sector.
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