Riskwise Global Capital said the perceived political risk in the Philippines had deterred potential investors in a $1.4 billion project to build an integrated resort in Mactan. “As with many foreign companies who had been working feverishly to undertake projects in the Philippines during 2016, we have experienced investor backlash as a result of political […]
The attack on Resorts World Manila, a likely public smoking ban and a proposed casino entry fee are putting pressure on the Philippine gambling industry. It was the best-performing in Asia last year and tipped again for strong growth, but smoking bans have never been known to produce a positive effect on revenue, while the attack hits a country that has long struggled with the perception it is not safe.
Bingo is not a game we hear a lot about in Asia. Legal and regulatory restrictions, coupled with a lack of appetite for the game, mean it is near non-existent in the likes of Korea, Macau, Malaysia, and Singapore. However, bingo is becoming popular in some parts of China, particularly Taiwan where a speed variant is played through the state lottery and in the Philippines the game has been played in various forms since Spanish Colonialism back in 1521. So could it catch on?
The Philippines was one of the best-performing casino markets around Asia in 2015, defying the regional slump to post a 17 percent increase in gross gaming revenue. Most of the focus has been on the multi-billion dollar resorts springing up in Manila’s Entertainment City, but industry experts say there’s plenty of opportunity outside of the capital.