Philippines casinos overcome China crisis

Philippines casinos overcome China crisis

Tuesday, January 12, 2016 Totally Gaming
Gambling centres in the country have focused on their entertainment offering, according to Pagcor

The Philippines has defied the Asian slump of 2015 by posting double-digit growth in revenue.

Cristino Naguiat Jr, chief executive of the government-owned Philippine Amusement and Gaming Corporation (Pagcor), told the Inquirer website that gross gaming revenue from all local casino operations was up 17 per cent at P130bn (€2.53bn/$2.74bn) last year.

A crackdown on gambling among Chinese nationals led to Macau reporting a 35 per cent drop in 2015, and indications are that Singapore will show a slight decline in its casino revenue, but Naguiat said that Filipino operators have made adjustments to their strategies, including a focus on entertainment.

“We showed a big improvement last year despite the business environment,” Naguiat said. “What’s important for us in the Philippines is that we met all our 2015 targets.”

Pagcor operates its own casinos and slot clubs and also oversees and regulates privately owned casinos and other gambling properties.

Naguiat explained that Pagcor properties showed a 15.75 per cent increase in gaming revenue, while those of licensees were up 18 per cent. He also said that junket trade more than doubled from P2bn in 2014 to P5bn last year.

Latest
No alternative text provided

Rank focuses on 'cost efficiencies' following 'tough' 2017 opening

Perfect Pairs: OneTouch.io builds on table games success

Goliath looks to topple WSOP from live poker throne

Eyes on the IR prize: MGM reinforces commitment to Japan

Gaming Products & Services Directory

The essential directory for the gaming industry