Expect more casinos to open outside the Philippines’ capital city of Manila in the near future.
The local casino regulator is reportedly willing to issue more gambling licenses in the regional locations for about $300 million, which is about one-third of the cash investment that the government previously asked from investors who wanted to put up a casino in Manila, Bloomberg reported.
Philippine Amusement and Gaming Corporation (Pagcor) chairman Cristino Naguiat told the news outlet in an interview that there are areas outside of Manila that are “very ripe for a casino,” so the agency is “open to giving out a casino license if it can help boost economic activity and if the people in the area want it.”
The country has already issued licenses for four casino resorts to be built in the 120-hectare development project Entertainment City with a minimum investment of $1 billion each. Kazuo Okada’s Tiger Resorts Leisure and Entertainment is set to open the country’s biggest casino property, the $2 billion Manila Bay Resorts, later this year.