When most people think about international gambling meccas, they probably look at Las Vegas, Monte Carlo, Singapore, or Macau (just to name a few hotspots). These days, even more people are playing from the comfort of their own home, with online poker sites dominating the gambling scene. But few people immediately gravitate towards the Philippines as one of the best places in the world to find an exciting game of blackjack or a high-stakes poker table. And yet, it is exactly this image of exclusivity and indulgence that the Philippines would like to promote, which is why they’ve begun a targeted campaign to build casinos and resorts throughout the islands that will bring in the crowd that currently flocks to other hubs of gambling in Asia. And the Philippine Amusement and Gaming Corporation (PAGCOR) has decided to make the biggest push in Manila, which they plan to transform into the “Entertainment City” by 2014 (four contracts for casino/resorts in Manila Bay are already under consideration).
While there are certainly places to gamble in the Philippines already, none have garnered the prestige of nearby Asian cities like Macau or Singapore (which beat them hands down, so to speak). But PAGCOR chairman Cristino Naguiat claims that once the Philippine islands have built up their all-inclusive trade, focusing on resorts that have not only gambling, but other forms of entertainment, as well (museums, shopping, amusement centers, etc.), they will rival other Asian entertainment capitals. Of note is the agreement with licensees that they will spend a minimum of $1 billion on their resorts, along with embracing the all-around entertainment mentality. Their plan starts with Manila, but they also have ideas in the works for both Cebu (the second largest city in the Philippines) and the already appealing island of Palawan (considered one of the most beautiful locales in the island chain).
All of this effort is aimed not at Americans or other western tourists, but at mainland China, which provides a vast market that is nearby (and more likely to produce repeat customers) and that is growing industrially at an astounding rate. With more people moving to cities, adopting consumer mentalities, and earning expendable income (not to mention demanding goods and services, including entertainment), China has become the fastest growing consumer market on the planet, practically overnight. At the moment, the Philippines are barely grazing the surface of that piggy bank with a mere 0.01% of the potential Chinese market looking to the nearby islands to fulfill their gambling requirements.
The proceedings were held up last year as a new government came into power and had to review contracts and plans for building, but as of late last year, everything seemed to be on track. And the islands may get more out of developers than they bargained for. Although PAGCOR was to be responsible for building certain complimentary structures in Manila under the old regime (such as a rail line between the international airport and the resorts), it now appears that they have scrapped these plans as part of an overall budget cut, insisting that those developing the resorts foot the bill for increased transportation measures that will bring their customers to their doors. It all looks like a pretty sweet deal for the Philippine islands, which look to be spending very little for what could ultimately yield major economic gains.
Shirley Simpson writes for Online Poker, one of the best US online poker sites on the web today.