The thriving Philippine gambling industry is about to see some major changes as the country gears for the presidential elections next month. On May 9, Filipino voters will decide who among the five candidates is the best choice to lead the country for the next six years.
The local gambling industry has flourished in the past decade, especially the casino sector, which investment bank Credit Suisse forecasts to generate gaming revenue of $6 billion by 2018—making the country one of the top four players in the world. The growth can be partly credited to President Benigno Aquino III’s administration that has worked hard to support the casino industry, which it regards as critical to the economy.
But now that Aquino will hand over the reins to his successor, the gambling industry’s future prospects has become uncertain.
CalvinAyre.com spoke with three executives from different areas of the Philippine gambling industry to get their thoughts on the upcoming elections, but on the condition of anonymity since the country’s Fair Election Law forbids foreign nationals from interfering in campaigns for local and national posts in the upcoming elections. Authorities have said in the past that foreigners who are found guilty of an election offense shall be punished with deportation after he has served his prison sentence.