Philippines' Duterte "hates gambling", rules out new casinos

Shin Hwa World

08/08/2018 12:27

MANILA, Aug 8 (Reuters) - Philippine leader Rodrigo Duterte
said on Wednesday there would be no new casinos set up during
his presidency, a day after abruptly shelving Landing
International's  0582.HK  $1.5 billion integrated casino project
in Manila.
    The Philippines is one of Asia's fastest-growing gambling
markets and its integrated casino-resorts have helped create
jobs and generate tax and tourism revenue. It also benefits from
bans on gambling in many Southeast Asia nations.
    Duterte on Tuesday ordered a review of Landing's contract on
the same day it broke ground on its project, arguing it put the
government at a disadvantage because the rental payment was too
cheap and the lease too long.  urn:newsml:reuters.com:*:nL4N1UY2QA
    He reiterated his longstanding opposition to gambling and
said he wanted no new casinos.
    "I hate gambling. I do not want it," Duterte said during a
public speech, without elaborating. "There will be no casinos
outside of what are existing. I am not granting anything."
    The notoriously blunt Duterte ordered the gaming operator in
January to stop accepting new applications in a bid to prevent
overcrowding in the sector and manage its growth.
    At the end of last year, there were nine private casino
firms in the Philippines operating 1,444 gaming tables and 9,427
electronic gaming machines, according to government data.
    Gross gaming revenues rose 11.6 percent to 176.5 billion
pesos ($3.33 billion) last year.
    Since the halt in new applications, two foreign firms,
Macau's Galaxy Entertainment Group  0027.HK  and Landing, have
secured provisional gaming licences.  urn:newsml:reuters.com:*:nL4N1PY2KS
    It was not immediately clear whether other applications
submitted prior to January and pending approval would be
impacted.
    Officials of the gaming regulator were not immediately
available for comment.
    Landing said on Wednesday it has nothing to add to its
statement issued on Tuesday, which said the integrated resort
project was pushing through and its lease contract was valid.
    ($1 = 53 pesos)

 (Reporting by Neil Jerome Morales; Editing by Martin Petty and
Nick Macfie)
 ((neiljerome.morales@thomsonreuters.com; +632 8418914; Reuters
Messaging: neiljerome.morales.thomsonreuters.com@reuters.net))