28 Jun '11, 11am

Philippine casinos cash in on gambling boom

Philippine casinos cash in on gambling boom

Philippine casinos are generating record revenues as the country cashes in on Asia's exploding gambling market. -- PHOTO: MORGUEFILE MANILA - PHILIPPINE casinos are generating record revenues as the country cashes in on Asia's exploding gambling market, according to state regulator Philippine Amusement and Gaming Corp (Pagcor). Pagcor said in a statement on its website that it raked in 3.03 billion pesos (S$86.5 million) in revenues in May, up 10.87 per cent from a year earlier for the highest monthly total in its 25-year history. 'We generated more than 2.01 billion pesos from our gaming operations and 1.02 billion pesos from regulated gaming... like commercial bingo and licensed casino operations,' chief executive Cristino Naguiat said in the statement. Five-month revenues were up 10.45 per cent from the previous year to 14.16 billion pesos, Pagcor added in the statement...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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