The Cagayan Economic Zone Authority wants discussions with the Philippines’ two other online regulatory bodies to establish a common fee structure and regulations to clear up confusion amongst operators in the country.
Philippines Gaming and Amusement Corp Chair Andrea Domingo said the regulator is planning to greatly expand its program to license offshore online gaming licenses now it is comfortable it is able to properly monitor and regulate activities.
Philippine Amusement and Gaming Corp Chair Andrea Domingo is predicting strong gross gambling revenue growth for the market again in 2017 and says the regulator is not in a hurry to divest its own casinos, because since January this year they have been generating a profit.
The inaugural ASEAN Gaming Summit kicks off in Manila on Tuesday, gathering more than 300 delegates to discuss the opportunities and challenges of operating in some of the region’s most dynamic markets.
The Philippines is expected to be one of the strongest growing gaming markets in Asia again in 2017, driven by another major opening in Manila’s Entertainment City, however growth is expected to slow over the longer term in the face of greater regional competition.
Documents alleging the corruption of senior officials of the previous Philippine Amusement and Gaming Corporation (Pagcor) administration have been turned over to Justice Secretary Vitaliano Aguirre II.
Travellers International Hotel Group, the operator of Resorts World Manila in the Philippines, reported higher revenue and EBITDA for 2016, driven by income from hotels, theatres and retail operations.