The Philippine Amusement and Gaming Corporation (PAGCOR) projects a 20% increase in Philippine casino gaming revenue to $3b in 2015.

PAGCOR Chairman Cristino Naguiat told Bloomberg that “first-half gaming revenue at the country’s casinos grew 16% to $1.4b.”

Philippines is one of the Asian countries that has benefited from Macau’s gaming slowdown due to China’s crackdown on graft. Macau casino revenue posted a 36.2% year-on-year drop in June to $2.18b—the 13th straight month of decline and the lowest since November 2010.

Following PAGCOR’s 2015 gaming revenue forecast, Philippine casino stocks surged. Bloomberry Resorts Corp., operator of the Solaire casino in Manila, soared 8% by the 3:30 p.m. close of trade on Tuesday while Melco Crown Philippines Resorts Corp., operator of City of Dreams Manila, jumped 8.8%.