The Philippines' Forbes Rich List Features Prominent Figures in the Gambling Industry
In the annual Forbes Rich List, the Philippines' power players are revealed, and this year, the top spot is held by a prominent figure with strong connections to the gambling sector - Enrique Razon Jr.
Enrique Razon Jr., the chairman of Bloomberry Resorts, is the man behind the Solaire casino in Manila. His wealth has been amassed through a combination of port operations via International Container Terminal Services Inc. (ICTSI), the country's largest port operator, and the gaming industry with Bloomberry Resorts. As of 2025, his net worth stands at approximately $11.9 billion, making him the richest person in the Philippines [1][5].
Razon's rise to the top has been fueled by steady growth in both his port business and Bloomberry's casino operations. For instance, ICTSI reported a 14% year-on-year increase in first-quarter net income, while Bloomberry saw significant revenue growth, including a one-time gain from refinancing a large loan. Although Bloomberry's VIP segment faced challenges in early 2025, growth in mass gaming and non-gaming segments has helped support earnings [1][3].
Another notable figure in the Philippines' gambling scene is Atong Ang, known for his involvement in jueteng (an illegal numbers game) and cockfighting industries. He is also linked to Casino Filipino and was involved in a high-stakes baccarat game with former president Joseph Estrada, highlighting his influence in the gambling scene. However, Ang's wealth accumulation primarily relates to these less formal gambling activities rather than large-scale corporate casino operations [2].
A comparison of the two billionaires:
| Billionaire | Connection to Gambling Sector | Wealth Accumulation Summary | |---------------------|-----------------------------------------|-----------------------------------------------------------------------------------------| | Enrique Razon Jr. | Chairman of Bloomberry Resorts (Solaire casino) | Built wealth from port operations (ICTSI) plus growth in gaming and non-gaming segments | | Atong Ang | Gambling magnate involved in jueteng, cockfighting | Influential in informal gambling sectors, linked to high-profile casino activities |
Enrique Razon Jr., with his casino business being a significant contributor to his wealth [1][5], stands out as the most prominent billionaire with corporate ties to the gambling industry in the Philippines. It's worth mentioning that Razon also founded Bloomberry Resorts and opened the Solaire Resort Entertainment City in 2013. In 2024, he expanded his casino operations with the opening of the Solaire Resort North.
The Forbes Rich List for the Philippines is dominated by individuals with links to the gambling sector. Manuel Villar is working on a massive development site that will include two casinos, a hospital, tech valley, and a business district. Three other individuals with ties to the gambling sector made it into the top 20 of the Forbes Rich List for the Philippines: Lance Gokongwei, Andrew Tan, and Eusebio Tanco. The Sy siblings hold the top spot on the list with a fortune of US$11.8bn, their wealth linked to the SM Holdings real estate empire [4].
[1] https://www.forbes.com/profile/enrique-razon/ [2] https://www.philstar.com/business/2021/08/09/2137901/atong-ang-still-richest-man-philippines-despite-losses [3] https://www.bloombergquint.com/onweb/bloomberry-resorts-revenue-surges-56-in-q3-beats-estimates [4] https://www.forbes.com/lists/billionaires/philippines/2025/#7d23064a5154 [5] https://www.forbes.com/lists/billionaires/philippines/2025/#7d23064a5154
- Enrique Razon Jr.'s wealth, which is primarily from port operations via ICTSI and the gaming industry with Bloomberry Resorts, positions him as a key figure in both business and finance, with strong connections to the gambling sector.
- While Atong Ang is influential in the Philippine gambling scene due to his involvement in jueteng and cockfighting, his wealth accumulation is more associated with these less formal gambling activities compared to Enrique Razon Jr., whose casino business is a significant contributor to his vast fortune.
