According to reliable sources, PAGCOR – the gaming regulator of the Philippines, is likely to grant licenses for casino establishments outside the capital Manila. However, operators, willing to commence construction need to meet certain requirements. They must be prepared to invest at least $300 million in the project and provide world-class gambling and non-gambling options.
Cristino Naguiat, PAGCOR’s chairman, commented on the matter and said that there were certain areas outside Manila defined as particularly suitable for casino projects. Yet, he refused to provide information about the exact location. Mr. Naguiat also added that the idea of granting more casino licenses is aimed at boosting the economy of the provincial cities and providing residents with more job opportunities. However, he firmly stated that PAGCOR members were not willing to grant licenses unless operators commit themselves to making a significant investment.
The Philippines’ gambling industry has had its revival and now it is among the most serious rivals of popular gambling destinations such as Macau and Singapore. The Entertainment City complex has become an appealing gambling hub before it is fully operational. The four integrated casino resorts are to spread across 120 hectares of land and each investor has put at least $1 billion in the construction.
As for the new casinos that might be built outside Manila, the amount of the minimum investment is yet to be determined but it will depend mainly on the location. Yet, the final decision is to be made by the new president who is to be elected at the beginning of May.
However, the further expansion of the casino sector attracted opponents, too. They raised concerns over the intensified competition caused by the casino resorts in the province. Since the aim is to replicate the Entertainment City, there is a risk of luring high-roller players, which would, therefore, hurt the revenues generated by the Entertainment City venues.
According to market analysts, the gambling industry of the Philippines is to undergo significant revival and expectations are the revenue to reach the impressive $2.83 billion in the next ten years. By that time, all four resorts that form the Entertainment City complex are to be open.
Currently, players can enjoy the facilities of Solaire Resort & Casino, a product of Bloomberry Resorts. City of Dreams, the project of Melco Crown Entertainment, also opened doors last year. Manila Bay Resorts is the next to open while the fourth property is expected to host its first visitors by 2020.
