The Philippines’ casino resort development activity is set to leave Manila’s borders, PAGCOR Chairwoman Andrea Domingo revealed on Tuesday. The country’s gambling regulator has given the nod to the construction of a $500-million integrated resort on the Cebu island and a $300-million one on the Mandaue island.
The two projects are the first ones of this type to have been approved for anywhere outside the Philippine capital. There are four operational integrated resorts in Manila and a fifth one is slated to open doors next year.
Speaking of the Cebu casino project, Ms. Domingo said that it had been approved after making sure that local governments would support it. Cebu being the Southeast Asian country’s second largest metropolis and its nearby airport have made it the popular choice for integrated resort development activity.
No new casino licenses will be issued for Manila for the next five years, Ms. Domingo told local media. The measure has been taken so as for the country’s original integrated resort investors to be given the chance to establish themselves on the local market without having to deal with too much local competition.
With its four operational casino complexes and several more to come, the Philippines is poised to become a leading gambling destination in the Asia-Pacific region. Developers have been investing heavily in the construction of integrated resorts in that part of the world for some time now. The investment and development activity can to a great extent be attributed to the near proximity to China, the homeland of some of the world’s biggest spending casino players.
With the Philippines and China gradually warming their previously not-so-warm relations, the Western Pacific country may turn into a favorite hub to Chinese casino players. The Mainland China government has cracked down on gambling and gambling-related harms, so the number of VIP players playing at Macau casinos has decreased over the past several years.
High rollers have either kept low profile or have opted for new gambling destinations to play their favorite games. The Philippines has been one such alternative location and with the addition of more sites for players to gamble at, its popularity has a good chance of growing even harder in the years to come.
