Philippines

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.

Bloomberry Resorts Chairman and CEO Enrique Razon said he’s confident about the future for the Philippines’ casinos as tourist arrivals gain and infrastructure improves.

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.

Riskwise Global Capital said the perceived political risk in the Philippines had deterred potential investors in a $1.4 billion project to build an integrated resort in Mactan.

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.

A lobby group has petitioned the Philippines’ Supreme Court seeking to stop the Phlippine Amusement and Gaming Corp. from issuing online licenses, arguing the permits violate the regulator’s charter and run counter to an executive order to crackdown on internet gambling.

The Philippine Court of Appeals has ordered Melco Crown Entertainment to abide by an accord to not hire the employees of rival Bloomberry Resorts and Hotels for a minimum of six months after their termination.

Japan’s Universal Entertainment is disposing of treasury shares through an international offering and third-party allotment to raise funds for operations at its $2.4 billion Okada Manila resort in the Philippines.

With just a week left until the ASEAN Gaming Summit, AGB interviews First Cagayan about the trends they are witnessing in Philippines and the wider Southeast Asia region.

Pages