The industry's hotspot gets even hotter.
Philippines
THE history of casino gaming in the Philippines dates back to 1977 when the new Philippine Amusement and Gaming Corporation (PAGCOR) regulator was given permission to open a small floating venue in Manila Bay designed to attract foreign tourists, raise additional tax revenues and help curb illegal gambling.
Although the Philippine Tourist I was destroyed by fire after only two years, this tentative experiment proved so popular that gambling was soon permitted onshore and now encompasses over 50 casinos and slot parlours in 28 municipalities, bringing in revenues in excess of $2.2bn a year, which represents nearly one per cent of the nation’s entire annual gross domestic product.
Read the full article in the May issue of InterGaming
