The annual Forbes (Asia) “50 Richest” list has been released, and several Philippine businessmen have made the top 20; however, most of those names are tied to casino gambling.
Domestic and online casinos in the Philippines have flourished over the past decade as the country has invested in the gaming sector. Today, there are areas in Manila resembling Las Vegas, with plentiful mega casinos and entertainment options.
While inflation and other economic factors have contributed to slower-than-normal growth over the past year, the Philippines has seen substantial gains with its casino regions. Below, we will look at some of the tycoons who have made the list and where their fortune stems from.
Enrique Razon Jr.
Razon tops the ranks of casino entrepreneurs, coming in at number two on the list. Razon is the man behind Bloomberry Resorts Corp., the parent company that owns and operates the Solaire Resort & Casino in Manila. Recently, Bloomberry opened a second casino location in the Philippines when it opened its doors to Solaire North (Quezon City) in May of 2024.
Bloomberry is currently seeking a third casino location in South Korea, expanding its reach and offering its world-class gaming experience to other parts of Southeast Asia.
Manuel Villar
Third on the list is Manuel Villar, a former senator and presidential candidate. With a net worth of ₱622bn, Villar is one of the richest people in the Philippines and is planning two developments in the near future, one in Metro Manila and one in Las Pinas.
Lance Gokongwei
Lance Gokongwel, a prominent PH businessman who just opened the NUSTAR Resort & Casino on Cebu Island, is number 11 on the list. NUSTAR is the first upscale integrated resort in Cebu.
Notable Mentions
Other Philippine entrepreneurs made the top 50 list. While most of the list comprises property moguls and business owners, iGaming and other gaming investors are also reaping the rewards. Below are a couple more gaming efficiencies that have made the prominent Forbes list.
- Dennis Uy – Emerald Bay Casino Resort
- Eusebio Tanco – DigiPlus Interactive (Online gaming)