The Philippine gaming industry could face major challenges as Asian countries Thailand and Japan make moves to open their own gambling markets.
Philippine Amusement and Gaming Corp. (PAGCOR) chairman and chief executive Alejandro Tengco said Thailand and Japan’s potential move to legalize casino would be a big threat to the local gaming industry.
“In 2024, about 35.5 million tourists entered Thailand while in the Philippines we have about 6 million. So that is a big threat because why would I go to the Philippines to gamble when I am already in Thailand?” Tengco said.
Thailand’s Cabinet approved in January 2025 a bill to legalize gambling in designated “entertainment complexes” to boost revenues and create jobs.
Japan in 2024 also approved a plan to build the country’s first casino in Osaka. The planned casino is scheduled to welcome the integrated resort and casino by 2030.
Tengco said officials from Osaka are already engaging with PAGCOR.
“The mayor, vice mayor, and city council of Osaka, along with the Japan Gambling Commission, have visited the Philippines twice to observe how integrated resorts (IRs) are being operated. This is a sign that the competition is about to intensify,” Tengco said.
Tengco said amid this threat, the Philippine casino industry should act swiftly to remain competitive.
“If casinos in Thailand and Japan become fully operational, the Philippine market could be left behind,” he said. He said PAGCRO instructed its lessors to renovate outdated casinos to improve the overall experience.
PAGCOR is also looking to sell its casino assets through privatization, 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,
PAGCOR operates 40 casinos under the Casino Filipino brand.
In 2024. the local gaming industry recorded gross gaming revenues of P410.5 billion. PAGCOR expects GGR to grow by 17 percent to P480 billion this year.