Cebu Island has quickly reached new heights as a destination for online gambling operators. It is now second only to Manila. Cebu gambling hub shows online gambling operators purchased or leased office space, about 25,700 square meters, in 2017. They are gaining locations in the Philippines to operate online sites legally. The report came from Cebu Daily News.
Colliers International Philippines further supported data. At least two international online gaming operators have licenses and locations in Cebu. One firm has 22,000 square meters of space, which is located at Tower 1 Plaza Magellan. It is in Mactan Newtown, part of Lapu-Lapu City. Another company gained 3,700 square meters of office space in the Momentum building, in Cebu Business Park.
Business Process Outsourcing companies tend to dominate the Philippine landscape; Colliers said more online gaming businesses are looking to break into the office space arena. They want to have a land-based location to have a proper operating license for eGames. Casinos might want to add more eGames since it is still legally allowed.
eGames have been increasing in the Philippines even with crackdowns on what is considered online legal gaming. When you combine the ability to increase office space in areas like Mactan Island and Mandaue City, with eGames legally operated for Philippine citizens and other netizens, it makes sense that companies would vie for spots in Cebu.
More regulatory changes are underway that makes it conducive for offshore gambling operators to try for licenses and have offices in Cebu.
Colliers also noted that Chinese gaming operators tend to buy residential properties for foreign employees.
Philippines PAGCOR Regulations
PAGCOR is the regulatory body that oversees licenses and ensures companies both land-based and Internet-based are following proper protocols when it comes to gambling. Andrea Domingo, the chair for PAGCOR estimates gross gaming revenue will increase to $3.57 billion in coming months. The revenue will be for POGO licenses, which allow gaming operators to supply online eGames. But, several factors could change the outlook.
The negative gambling news does not help casinos fight Duterte’s disdain for gambling. President Duterte is not a fan of any of the gambling industry moves. He does not want more land-based casinos, and he is looking to tighten up regulations for online companies. With illegal actions happening, and cops gambling in casinos it does make it hard to find a positive outlook if one does not like casinos.