Alejandro Tengco said he expects the Philippines to surpass Singapore next year.
The Philippines.- Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), has said that he expects The Philippines to become Asia’s second-largest gambling destination, surpassing Singapore, next year. In an interview with Bloomberg, Tengo cited the upcoming opening of a new integrated resort by Bloomberry Resorts and plans for up to eight new casino projects.
He said new developments would offset the decline in Chinese tourist arrivals resulting from tensions in the South China Sea and the Covid-19 pandemic. Tengco highlighted the resilience of the Philippine gaming sector and the expectation of record gross gaming revenue of PHP336bn (US$6.1bn) this year, up from PHP285bn last year.
The country received 1.2 million foreign visitors in the first two months of 2024 and expects 7.7 million arrivals for the full year. Last year, it received 5.45 million international visitors. The Philippines is also expanding its online gaming sector. Tengco had previously said PAGOR will launch an online gaming platform, casinofilipino.com, this year.
Alejandro Tengco said he expects the Philippines to surpass Singapore next year. The Philippines.- Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), has said that he…
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