The recent $8M money laundering scandal has prompted an international watchdog to call for casinos to have a lower threshold for players.
The gov't of United States has identified what it believes could be a weak link the Philippines' effort to stop money laundering: casinos.
Total income of state-owned Philippine gaming regulator PAGCOR reached nearly $1 billion in 2015, thanks to its strong gaming revenue.
Expect more casinos to open outside the Philippines’ capital city of Manila in the near future.
Despite a sharp decline in the Chinese VIP market, Philippines gross gaming revenue posted double digit growth in 2015.
State-owned Philippine gaming regulator is ahead of its target for the first nine months, attributable to strong gaming revenues.
Bloomberry Chairman and CEO Enrique Razon expects the company’s losses will narrow because gaming revenue is growing.
PAGCOR is looking at a P40.8B ($881.3M) total gaming revenue for 2015, but the projection is expected to accelerate next year.
PAGCOR's reported casino plans at the historic Manila Army and Navy Club would violate Philippine laws.
Philippine Amusement and Gaming Corporation (PAGCOR) projected a 20% increase in Philippine casino gaming revenue to $3b in 2015.