Asia Allows Gambling in Cagayan Freeport

Cagayan Freeport is a special investment zone that allows gambling. The zone has used gaming provisions in their charter for the past twelve years to enable them to allow gambling in the only jurisdiction in Asia. The zone is a big deal for those who normally would not be able to gamble as it is illegal everywhere else. The only exception to that rule is Macau.

The casinos in Cagayan Freeport are targeting those gamblers that would be heading to Macau to spend their money at the slot machines and casinos over there. They are also targeting those that gamble on the internet, and are hoping to pull in a slice of that $12 billion pie. They are hoping that by being the first to allow online gambling that they will lure the region’s bettors to them.

Experts say that they have a real chance at doing so as China has the potential to become a large gambling country, and with so many people and the access limited to only a few places, those places that allow it could become huge. Most of Asia currently bans online betting, including Macau, Singapore, and Hong Kong. Not only that, most people like that Cagayan Freeport is one of their own. They don’t trust casinos over in Europe as they don’t know if they are rigged or not.

Cagayan has one other thing in its favor, and that is powerful support on behalf of it. Senator Juan Ponce Enrile drew up the original charter to lure people there. They offer tax incentives for those that come there, and the people are responding. One casino opened in December and brings in $13 billion a day in bets. Of that money, more than 90% comes from Asia alone.

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