Philippine casino operator Bloomberry Resorts Corporation posted a net profit of P2.3 billion (US$46.1 million) for the year ended December 31, 2016, according to a filing to the Philippine Stock Exchange on Friday.
The Philippines needs to improve its international image to boost tourism numbers and inbound investment, allowing it to achieve its full potential, local operators say.
The Philippines needs to improve its international image to boost tourism numbers and inbound investment, allowing it to achieve its full potential, local operators say. The noise over politics and instability is overshadowing the country's achievements and natural attractions.
This content is for members only. To continue reading
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.