Thailand’s plan to legalise casinos is a “big threat” to the Philippines, which is now Asia’s second-largest gambling hub and is looking to set a revenue record in 2025, says the head of the country’s gaming agency.
Gross gaming revenue may reach 450 billion to 480 billion pesos ($7.8 billion to $8.3 billion) this year, driven by a recovery in integrated resorts and booming electronic games, Alejandro Tengco, chairman and CEO of Philippine Amusement and Gaming Corp, told reporters on Wednesday.
Revenue reached 410.5 billion pesos in 2024, an all-time high, he added.
That makes the Philippines the second largest-gaming destination in Asia after industry leader Macau, Tengco said. But he warned that regional competition is increasing and the Philippines risks losing out to Thailand.
Thailand’s tourist arrivals, which dwarf those of the Philippines, give it an advantage in drawing gamblers and investors. “It’s a big threat,” Tengco said, adding that Japan also plans to open a casino in Osaka, another tourist hub.
The Philippines welcomed 5.4 million foreign tourists in 2024, compared with 35 million in Thailand and a record 37 million in Japan.
Thai lawmakers are currently scrutinising the government’s proposed Entertainment Complex Bill, which would pave the way for legalised gambling.
Pagcor, as the Philippine agency is known, must shape up and proceed with a plan to sell its dozens of small state-owned Casino Filipino outlets so that it can focus on its role as industry regulator, he said.
“By decoupling, we will be able to show the world that we are fair. That there is no conflict of interest,” Tengco said. The privatisation process may start next year, he added.
