Philippines sets moratorium on new casinos
Philippine President Rodrigo Duterte has ordered a moratorium on new casinos in the country in order to stop the growth of the market.
Philippines.- There won’t be any new casino approvals anytime soon in the Philippines as President Rodrigo Duterte has ordered a moratorium on new venues. Even as some of the country’s tycoons managed to make their foray into the sector before the new order, Duterte wants to stop an already crowded market from further expansion.
PAGCOR chairwoman Andrea Domingo explained: “The President told me on Jan. 11 to freeze (the processing of) new casinos because there are just too many now.” She further detailed that the regulatory body will stop issuing licenses for casinos for a while, until the market can take in new entrants again.
Domingo also voiced her approval of Duterte’s decision and said she agrees with him as there is already a proliferation of land-based casinos in the country.
There are several casino projects that barely managed to get in the market before the announcemente, such as Gokongwei’s, set to open in Cebu’s South Road Properties in 2022, or Villar’s project for Dasmarinas, Cavite.
