SUMMARY
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The bitter feud between casino moguls Steve Wynn and Kazuo Okada that exposed freebies allegedly received by Filipino officials in Philippine Amusement and Gaming Board (Pagcor) has simply brought a fresh focus on how casino operators are looking in other parts of Asia for growth.
The Philippines may have a small gaming market, but casino operators hope to mirror their successes in Singapore and Macau, which has overtaken Las Vegas as the world’s gambling haven since 2006.
Okada’s Japan, as well as Taiwan and other neighbors remain “holy grails” as politicians cite social and moral grounds for opposing efforts to relax restrictions. Thus, these casino moguls are hoping to increase their pie by vying for less restricted markets like the Philippines, Vietnam and South Korea.
Read more on FT.com.
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