Clark Freeport Zone, the Philippines’ flagship freeport zone, is gearing up to become a new tourism hub with the development of a large-scale casino resort. The project is currently awaiting final licensing approval from the Philippine Amusement and Gaming Corporation (PAGCOR) , and is expected to contribute significantly to the local economy in the future.
Project Overview and Progress
This integrated resort project is being promoted by Belle Corporation and is expected to be an investment of approximately US$300 million (about KRW 400 billion) . The resort is planned to include various facilities such as a casino, a luxury hotel, and a convention center, and is aimed at boosting the economy and tourism in Clark. PAGCOR is currently reviewing several new casino license applications, including this project. However, the final approval has not been given yet.
Impact on the local economy
Clark has grown rapidly by converting a former U.S. Air Force base into a free economic zone. The casino resort is expected to play a major role in attracting domestic and international tourists, while creating thousands of jobs . PAGCOR Chairman Alejandro Tengco emphasized that these large-scale projects are key factors in positioning the Philippines as a major gaming hub in Asia.
Growth and Prospects of the Philippine Gaming Industry
The Philippines aims to generate 336 billion pesos (about $6 billion) in revenue from the gaming industry alone by 2024. In addition to Clark, new casino projects are underway in areas such as Manila, Cebu, and Boracay . These projects are also aimed at growing the online gaming sector alongside existing offline casinos.
PAGCOR Regulatory Changes and Expectations
PAGCOR has recently revamped its regulatory framework, focusing on strengthening responsible gaming operations. PAGCOR is carefully considering the impact of these new licenses on the local economy. The Philippine government is also working to improve diplomatic relations to increase the influx of tourists from China and other countries .
Economic growth and community development
If the Clark Casino Project is successful, it is expected to have a significant impact on the overall economy . The project will not only provide a luxury resort and casino facilities, but will also stimulate ancillary industries such as the convention industry, shopping, and gastronomy tourism . The nature of the resort, which includes a convention center , will allow it to attract international conferences and events, contributing to the growth of Clark as an international business hub .
In addition, the revenue generated by the casinos will increase tax revenues for local governments , which can be reinvested in infrastructure improvements, education and welfare programs . According to data from PAGCOR, the Philippine gaming industry generated revenues of P285.3 billion in 2023 , and is expected to reach P336 billion in 2024 with the addition of new resorts. The Clark casino is likely to be a key driver of this growth.
Strengthening PAGCOR’s Regulations and Responsible Gaming Operations
PAGCOR is working on a strict regulatory framework to ensure that new casino projects drive economic growth while ensuring responsible gaming operations . PAGCOR requires each casino to implement regulatory compliance and social responsibility programs , and encourages them to return a portion of their revenues to the community . Accordingly, Clark Casino is also looking for ways to combine a healthy entertainment culture with community contributions .
PAGCOR is also developing the online gaming sector, expecting synergies with the e-gaming market . According to PAGCOR’s report, the online gaming sector is expected to grow rapidly, generating revenues of P5.8 billion in 2023. Clark Casino can also be linked to this digital gaming environment, potentially developing into a resort that offers hybrid entertainment .
Expanding Clark's Tourism Potential and Infrastructure
Clark is a fast-growing area centered around the international airport and free economic zone . Clark Casino is considered a key driver to accelerate infrastructure expansion and local tourism development . Clark is already a popular destination for international tourists, and the new casino resort will help attract more Chinese, Korean, and Japanese tourists.
In particular, improved diplomatic relations with China could have a significant impact on the future growth of the casino industry. Currently, the Philippine gaming industry is struggling due to the decline in the influx of Chinese tourists, but if relations with China normalize, there is a possibility that revenues at several resorts, including Clark Casino, will surge again.
Social Challenges and Solutions
However, the expansion of the casino industry can also bring with it gambling addiction issues and negative impacts on the community . Accordingly, PAGCOR requires each casino operator to strengthen its social responsibility activities along with addiction prevention programs . It is important for Clark Casino to comply with these policies and build trust in the community.
In addition, local residents are concerned about traffic congestion and changes in their living environment due to casino development. To address this, public transportation system improvement and environmental protection plans need to be implemented together. Belle Corporation, the casino operator, announced that it will work with the local community to develop a win-win plan along with environmental policies .
Conclusion
The Clark Casino Project is seen as a major opportunity to boost both the Philippine tourism industry and the local economy. The success of the project will depend on the final approval of PAGCOR, and Clark is likely to solidify its reputation as a new global tourism destination. Large-scale casino developments in Clark and other areas in the coming years are expected to help the Philippines leap forward as Asia’s leading gaming hub.
Specific details about this project can be found in PAGCOR's official announcement and Belle Corporation's future announcements【65】【67】.
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