Philippine gambling to grow in 2018

According to PAGCOR, gambling is expected to contribute €2.89 billion to Philippines economy in 2018.

Philippines.- Gambling has proven extremely popular in Philippines as the industry continues to grow and is expected to experience a very successful 2018. According to the Philippine Amusement and Gaming Corporation (PAGCOR), the activity is expected to contribute over €2.89 billion to the country’s economy, up 4.9 per cent year-on-year as it continues to improve.

Andrea Domingo, chairwoman and CEO at PAGCOR, made the announcement and explained the importance of internet gambling enterprises like Bitcasino in the prophesied expansion. She also reminded that the industry reported a €2.63 billion GGR in 2017, up 7.6 per cent from 2016’s €2.44 billion.

“We are looking at doubling Philippine offshore gaming operators (POGO) and electronic gaming [licensees],” Domingo said as she assessed that growth will be driven by online casinos in particular.

Philippines expects to keep up with Macau’s growth and aims to turn into a major gambling destination for tourists from all over the world. Time will determine whether they finally achieve their goal, but 2018’s projections certainly hint that they are on the right track.