

Alejandro H. Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), predicts that by 2025, the Philippines will emerge as Asia’s second-largest gambling center, trailing only Macau and poised to overtake Singapore.
Tengco credits this prospective achievement to the forthcoming rise in tourist influx, driven by the inauguration of new integrated resorts, which are anticipated to offset the dwindling number of Chinese visitors.
In a conversation with Bloomberg, Tengco remarked, “Should Singapore fail to expand, they will hit a ceiling. It wouldn’t be surprising if we surpass them next year.” He also noted the imminent launch of a new integrated resort in Manila by Bloomberry Resorts in the later part of this year.
Scheduled to open in late May, Bloomberry’s casino venture, Solaire North, situated in Quezon City, involves a hefty investment of $1 billion. The property encompasses a hotel tower boasting a maximum of 550 rooms, complemented by a gaming section accommodating up to 200 gaming tables and potentially 3,000 slot machines.
The gaming regulator of the Philippines anticipates a substantial surge in gross gaming revenue (GGR) to PHP 336 billion ($6.1 billion) this year, surpassing the previous year’s PHP 285 billion ($5.14 billion).
Tengco approximated Singapore’s GGR at $6 billion, indicating that if PAGCOR’s forecast GGR materializes, the Philippines could reach Singapore’s levels by the end of this year.
The Gambling Regulatory Authority of Singapore declined to comment on this projection.
Meanwhile, the Department of Tourism (DOT) in the Philippines targets attracting 7.7 million foreign tourists, a notable increase from the 5.45 million in 2023 but still below the pre-pandemic level of 8.26 million in 2019.
Tengco revealed plans for future casinos in the Philippines, with potential costs reaching up to $1.2 billion each, slated for Manila, Clark, and prominent tourist destinations like Cebu and Boracay. He expressed confidence that tapping into new markets would draw a fresh wave of clientele.
Despite the slowdown in Chinese tourist arrivals, Tengco asserted that the industry’s expansion would persist, as Philippine casinos primarily cater to locals and visitors from South Korea, Japan, Malaysia, and Singapore.
According to the latest data from the DOT, visitor arrivals in the Philippines surged by 24.4 percent in January and February compared to the same period last year.
During the initial two months of 2024, the total number of visitors to the country reached nearly 1.16 million. Excluding overseas Filipinos, the Philippines welcomed nearly 1.1 million international visitors, marking a substantial increase of 27.6 percent.
There are ongoing projects to open more integrated resorts around the country and it just goes to show how much the gaming industry in the Philippines is growing. As tourist and flights to Manila is increasing and more casinos open up, it will just be a matter of time for PAGCOR to be able to reach this milestone.