Other important news of 2016 and up to Q3 2017 includes strong gross gaming revenues while Macau has turned the corner and Singapore experiences continued contraction. Beyond that, Pagcor plans to sell all 46 of the casinos they own by the end of 2017 and are getting into the online casino licensing market, a function previously held only outside Manila. Duterte's actions sowed uncertainty over whether about 75 online casinos licensed in the CEZA jurisdiction, servicing most of Asia's online gambling needs, would come under his sword as well. By early October that stance had seemed to relax.
The current president, Rodrigo Duterte, declared war against online gambling which initially caused Pagcor to refuse license renewals for over 280 internet cafes and sports books used by Filipinos. Credit Suisse has forecast that Philippine casinos will generate gross gaming revenues of $6 billion by 2018, which would put the country in the top four in the world by this measure. The country's gambling industry is growing rapidly. Gambling has been legal in the Philippines since a 1976 presidential decree by then President Ferdinand Marcos created the Philippine Amusement and Gaming Corporation (PAGCOR). Betting on sports futures, props and lay bets.
