The Philippines is one of the top four gambling hubs in Asia. Its casinos are expected to generate gross gaming revenues of $6 billion this year.
Gambling is a part of Filipino culture, and it’s not just for the rich. It can be played during funerals and even during sports events like horse fighting. Nowadays traditional casinos are being replaced by online casinos Philippines which are in the most popular demand by the youngsters.
Enrique Razon
Enrique Razon is a Filipino billionaire with a net worth of USD 5.1 billion. He is a businessman and chairman of International Container Terminal Services, Inc. His company is the largest port operator in the Philippines and one of the world’s top five maritime terminal operators.
He has many investments around the world, including in ports and utilities. He owns International Container Terminal Services, a global port operator, and Prime Infrastructure Capital, a water utility company.
In the Philippines, Razon owns a majority stake in Bloomberry Resorts Corp., which operates the Solaire casino resort in Manila. Its shares were recently listed on the Philippine stock exchange.
The company signed a term sheet with PH Resort Group, Razon’s infrastructure-focused Prime Strategic Holdings subsidiary, to acquire 279 hectares of waterfront properties in Ternate, Cavite.
He also holds a majority stake in Apex Mining, a publicly traded gold producer in the Philippines. He has also made several investments in utilities, including Trident Water, a water utility company owned by Prime Strategic Holdings.
Manuel Villar Jr.
Born to a fish-selling mother and a government worker father in Moriones, Tondo, Manila on December 13, 1949, Villar is the second child in a family of nine. In his youth, he worked hard selling seafood to support himself and help his mother.
He made it big by specializing in property development, which has been the backbone of his wealth. He chairs Vista Land, the country’s biggest home builder, and Starmalls, one of the Philippines’ largest mall operators.
Villar’s fortune has come from a portfolio of six listed companies, mostly in real estate. Golden MV Holdings, a memorial park and housing developer, has doubled its share price since its market debut in 2016.
As for his casino venture, the property tycoon said he would likely finalize his planned integrated resort (IR) by 2023. He has already obtained a license from PAGCOR, the country’s gaming regulator, and local government approvals. He has also lined up a foreign partner for the project.
Andrew Tan
Andrew Tan is a key player in the Philippines’ bid to join Macau and Singapore as Asia’s premier gaming destinations. He controls Alliance Global Group Inc, which owns most of the casinos in Resorts World Manila with Hong Kong-listed Genting Hong Kong Ltd.
Tan’s business interests include food and beverage, real estate, and tourism. He has also pushed to revive a casino project on the island of Boracay, despite President Rodrigo Duterte’s opposition.
As chairman and CEO of Megaworld Corporation, Tan built the company from a start-up enterprise in 1989 to become the country’s largest residential and office condominium developer. He pioneered township development under his Live-Work-Play-Learn lifestyle formula.
He also established the Megaworld Foundation, which has given millions of dollars to education. In 2010, he was recognized by the University of the East for his contributions to business and social responsibility.
He also has interests in tobacco, beer, liquor, and other retailing companies. He owns the Philip Morris-Fortune Tobacco joint venture and Asia Brewery.
Henry Sy
In 2015, Henry Sy topped Forbes Philippines’ annual list of the richest Filipinos. He has a net worth of $14.4 billion, up $1.7 billion from last year.
Sy’s fortune spans retail, real estate, and banking. His family-owned SM Investments operates the country’s largest mall developer, SM Prime Holdings, and BDO Unibank, one of the Philippines’ top banks.
He is also a major investor in Belle Corp, a partner in the City of Dreams Manila casino resort. And he owns Atlas Consolidated Mining and Development Corporation.
The 94-year-old businessman’s inspiring rags-to-riches story, grit, and business philosophy have made him a role model for many. His fortune also includes a foundation that supports education and social development.
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