Philippine casinos to overtake Singapore's: Okada

Manila

UNIVERSAL Entertainment Corp chairman Kazuo Okada said the Philippine gaming market could soon surpass Singapore's, as improved ties with China promise more tourists and raise the prospects for his upcoming US$2.4 billion casino.

The Japanese gaming tycoon said in Manila on Wednesday that Philippine President Rodrigo Duterte's move to thaw relations with China, as well as his efforts to fight drugs and crime, will increase the number of Chinese visitors. At the same time, he sounded a note of caution about jumping into the world's newest casino market in Japan due to its ageing population.

"A lot of Chinese are coming to the Philippines and that will improve more, as improving bilateral relations between China and the Philippines increase tourism here," said Mr Okada in an interview ahead of a public preview of his resort, starting Dec 21 and lasting until its official opening in the first quarter of 2017. "The Philippine gaming ma…