The Philippine Gaming and Amusement Corp. (PAGCOR) expects gross gambling revenue in the country to gain 8.5 percent to PHP217 billion ($4.1 billion) in 2019, Reuters reports.
The country saw a 13 percent gain in GGR in 2018 to about PHP200 billion, PAGCOR Chair Andrea Domingo told the news agency. The Philippines is fast approaching Singapore as Asia’s second-largest gaming market.
The company has seen strong growth from VIP gaming, though expects greater competition from around the region in the future, she said.
“All the integrated casino resorts are doing very well,” Domingo was cited as saying.
Domingo said she plans to meet Philippine President Rodrigo Duterte, who is opposed to gambling, and update him on threats faced by the gambling industry and socio-civic projects funded by the casino sector.
“The operators are threatened (by the growing competition). However, if you have critical mass (plenty of options) and a safe environment, gamblers will still be there,” Domingo told Reuters.