Pagcor says China conflict hurt gaming revenue in 2013

The Philippines had gross gaming revenue of about $2.2 billion in 2013, missing its estimates by about 12 percent as a territorial conflict in the South China Sea hurt tourist arrivals from mainland China and Hong Kong, local media reported, citing Pagcor chairman and CEO Cristino Naguiat as telling a business conference. The figure was 10 percent above 2012 revenue, but below his earlier estimate of $2.5 billion gaming industry revenue last year. The country’s gaming revenue growth last year would have been double if political issues had not interfered, Enrique Razon, chairman and president of Bloomberry Resorts Corporation, said.