- President Rodrigo Duterte ordered suspension on entry and creation of new casinos in the country to prevent oversupply
- Four pending applications will no longer be processed after the ban according to PagCor Chairman Andrea Domingo
- Philippines recorded 12-percent gross gaming revenue increase in the first half of 2017
- Spokesperson Harry Roque confirmed the order from the President
President Rodrigo Duterte ordered the Philippine Amusement and Gaming Corporation (PagCor) to stop processing applications on the entry and creation of new casinos as per a moratorium on January 11 to prevent oversupply.
PagCor Chairman Andrea Domingo said the President did the order “because he did not want the industry to be crowded.”
Moreover, according to Domingo, the country’s gaming regulator has four pending applications for gaming licenses that will no longer be processed following the ban.
The Philippines, one of Asia’s fastest-growing gambling markets, recorded a 12-percent gross gaming revenue increase in the first half of 2017 with 88-billion pesos or 1.71-billion dollars; benefiting from warmer ties with China and increasing foreign investors.
The gaming regulator operates dozens of casinos in the Philippines, with 526 tables and 10,461 machines and there are nine huge private casino complexes offering 1,236 gaming tables and 7,767 electronic gaming machines, based on latest data available.
Presidential Spokesperson Harry Roque, as posted on GMA News website, confirmed the report and said the executive leader purportedly wants to check the operation first and if it is needed to build new ones.