The Philippines gaming revenue may have risen an average of nearly 24 percent over the past few years but somehow, this Southeast Asian island nation is finding it difficult to lure big name western investors to bet in the country.

According to The Wall Street Journal report, the Philippines’ problem lies in its credibility and transparency.

The series of unfortunate events in the country – such as the deadly Resorts World Manila arson attack and the abduction of a Singaporean woman from a casino – illustrate the poor state of regulation and security in the Philippine casino market, according to analysts.

“The credibility, the transparency is just not there to satisfy the requirements of most international investor operators,” Ben Lee, managing partner of Macau-based IGamiX Management & Consulting, said, according to the news report.