The head of the state gaming regulator in the Philippines has suggested the rate of growth in the country's gaming industry could exceed expectations this year.
According to Business World, Rafael Butch Francisco, president and chief operating officer of Philippine Amusement and Gaming Corp, said the organisation’s licensed casinos and economic zones generated PHP8.7bn in the first two months of this year. In 2009, Pagcor and its casinos reported revenues of approximately PHP60bn.
"On average, Pagcor and the gaming industry has an eight per cent - 10 per cent year-on-year growth," he said. "But it’s possible that we can exceed this target with the good news that we have been getting about the economy."
Earlier this week, Pagcor announced that it had struck a deal with MJC Investments to operate a casino in a hotel development to be built on the site of the former San Lazaro racetrack, now known as the San Lazaro Tourism and Business Park.
