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The newly released 2025 Forbes “Philippines’ 50 Richest” list once again highlights the powerful role the casino industry plays in shaping the country’s wealth landscape. While the Sy siblings of the SM Group retained the top spot with a combined net worth of US$11.8 billion, down slightly from last year, it's the rising dominance of casino-linked magnates that is turning heads across the financial world.

Second on the list is Enrique Razon Jr., chairman of both Bloomberry Resorts Corp., which operates the high-profile Solaire Resort & Casino, and international port operator ICTSI. His fortune rose to US$11.5 billion, reflecting not only the rebound of the port business post-pandemic, but also the consistent performance of his integrated resort, which remains a key pillar of the Philippines’ casino and tourism ecosystem. Bloomberry’s expansion efforts, including the forthcoming Solaire Resort North in Quezon City, underscore Razon’s strategic focus on the gaming sector as a long-term growth engine.

Landing in third is Manuel Villar Jr., the property tycoon who is quickly becoming a rising force in gaming. His estimated net worth of US$11 billion, slightly up from last year, is supported not only by his massive real estate empire but also by his recent foray into casino development. Villar is independently building a world-class gaming and entertainment complex in Las Piñas—signaling a calculated move into the lucrative integrated resort space that has already reshaped fortunes in Metro Manila.

Also making a strong appearance is Andrew Tan, founder and chairman of Alliance Global Group Inc., which owns a majority stake in Travellers International Hotel Group, the developer and operator of Newport World Resorts (formerly Resorts World Manila). Tan continues to benefit from the steady recovery of domestic tourism and the growth in casino revenues, with his diversified portfolio across liquor, real estate, and gaming helping him maintain his position among the country’s top billionaires. Alliance Global’s continued investment in gaming, hospitality, and entertainment infrastructure underlines its long-term commitment to the casino sector and its integral role in the Philippine leisure economy.

The presence of these casino-aligned moguls among the top ranks underscores how the Philippine casino industry is now a central pillar of high-net-worth wealth creation. These investments have proven resilient and profitable despite regulatory scrutiny and shifting market conditions. Their success has also encouraged further diversification among other billionaires into casino-related ventures.

Meanwhile, the list also marked the notable absence of Dennis Uy, who had once been touted as a rising star in the casino sector through his PH Resorts Group. His stalled Emerald Bay project in Cebu has been mired in funding issues, which may have contributed to his fall from the list this year. The contrast between Uy’s decline and the ascent of seasoned magnates like Razon, Villar, and Tan shows that while the casino industry offers vast potential, it demands scale, resilience, and strong financial backing to succeed.