Increasing UHNWIs in the country has increased the demand for VIP and junket services in the country. Moreover, growing number of Chinese & Korean tourists have further supported the growth of the casinos in the country.
The report titled “Philippines Casino and Gambling Market Outlook to 2022 – By Licensed and Government Casinos and Electronic Gaming Sites (Bingo Games, Electronic Games and Sports betting)” by Ken Research suggested a positive CAGR of 15.4% in terms of revenue in casino market in the next 5 years till 2022.
The Philippines consists of 7,000 small and large islands surrounded by oceans. With gorgeous sea vistas, untouched nature and a warm climate has made Philippines a perfect gateway for busy travelers from developed nations and metropolitan China. Philippines Hospitality represents a very attractive element to make the country as a tourist destination. The international tourists in the country have grown at tremendous rate in past few years.
Gambling in the Philippines has been present from the 16th century. Gambling has been legal in the Philippines since 1976, official announced by then President Ferdinand Marcos which created the Philippine Amusement and Gaming Corporation (PAGCOR). The casino and gambling industry is quite vibrant and have registered fluctuating growth in the last 5 years. A key trend which is expected to boost market growth is the integration between the casinos and the hotel/ accommodation sector. Cordial relationships with ASEAN countries have driven the hospitality sector tremendously, by increasing number of international tourists visiting the country.
The Philippines is the third largest casino industry in South East Asia after Macau, Hong Kong and China. The country is slowly becoming another gambling capital in South East Asia. The country is vying with Macau and Singapore to become Asia’s top gaming destination with the opening of the Pagcor Entertainment City.
The Philippines has become one of Asia’s top international cruise destinations, and there is an increasing interest from Cruise Lines to boost infrastructure development in order to support international cruise ships. This has resulted in the growing demand for hospitality services in the country owing to the growing number of tourists in the country.
Over the past few years, there has been a tremendous growth in the online gaming market. It is one of the fastest growing segments of the gambling industry. The online gaming business is progressively changing the model of the gambling industry as many consumers turn to Internet to bet on sports, gamble on slots or play cards. Growing interest of customers and easy process of online gaming has raised the demand for online betting in the country.
Philippines is poised to be one of the fastest growing casino & gambling markets in Asia, thus catering to the needs of both international & local customers.
Key Topics Covered in the Report:
Philippines gambling industry
Licensed casinos in Philippines
Philippines Electronic Gaming Market
Online gambling market Philippines
Regulations in casino industry in Philippines
Pai Gow Decision Making Parameters
Electronic gaming tables Philippines
Sports betting market Philippines
Philippines casino industry
Online gambling sites in the Philippines
Slot category in casino Philippines
Government casinos in Philippines
For more information, refer to below link:
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Ankur Gupta, Head Marketing & Communications