Alejandro Tengco said he expects the Philippines to surpass Singapore next year.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Alejandro Tengco<\/strong>, chairman and CEO of the\u00a0Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong>, has said that he expects The Philippines to become Asia’s second-largest gambling destination, surpassing Singapore, next year. In an interview with Bloomberg, Tengo cited the upcoming opening of a new integrated resort by\u00a0Bloomberry Resorts<\/a> and plans for up to eight new casino projects.<\/p>\n\n\n\n He said new developments would offset the decline in Chinese tourist arrivals resulting from tensions in the South China Sea and the Covid-19 pandemic. Tengco highlighted the resilience of the Philippine gaming sector and the expectation of record gross gaming revenue of PHP336bn (US$6.1bn) this year,\u00a0up from PHP285bn last year<\/a>.\u00a0<\/p>\n\n\n\n The country received\u00a01.2 million foreign visitors\u00a0<\/strong>in the first two months of 2024 and expects 7.7 million arrivals<\/a> for the full year. Last year, it received\u00a05.45 million international visitors<\/a>. The Philippines is also expanding its online gaming sector. Tengco had previously said PAGOR will launch\u00a0an online gaming platform<\/a>, casinofilipino.com, this year.<\/p>\n","protected":false},"excerpt":{"rendered":" Alejandro Tengco said he expects the Philippines to surpass Singapore next year.<\/p>\n","protected":false},"author":176,"featured_media":21794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines, through PAGCOR Chairman Alejandro Tengco, anticipates surpassing Singapore to become Asia's second-largest gambling destination by next year. This growth is driven by new integrated resort developments and an expanding online gaming sector, projecting a record GGR of PHP336bn (US$6.1bn) for 2024. Despite geopolitical challenges impacting Chinese tourism, the sector demonstrates significant resilience and expansion.","focusai_entities":"Alejandro Tengco, Philippine Amusement and Gaming Corp. (PAGCOR), Bloomberg, Bloomberry Resorts","focusai_location":"Philippines, Singapore, Asia, South China Sea","focusai_target_profile":"ceo_executive (0.95), regulator (0.95), compliance_legal (0.75), operator_casino (0.9), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.75), investor_analyst (0.95), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Online Strategy","query":"What specific B2B technology stack and operational governance framework will PAGCOR implement for casinofilipino.com to ensure competitive differentiation and robust regulatory compliance?"},{"label":"GGR Sustainability Factors","query":"Beyond new integrated resorts, what specific policy or regulatory reforms are PAGCOR implementing to diversify revenue streams and mitigate geopolitical risks impacting tourist arrivals, ensuring sustained GGR growth?"}],"footnotes":""},"categories":[28,16333],"tags":[23632,23907],"class_list":["post-777013940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777013940"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013940\/revisions"}],"predecessor-version":[{"id":777013967,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013940\/revisions\/777013967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}