The Philippines has one of Asia's most developed gaming markets, but Joe from Jade Entertainment believes licensed operators are still competing for only a fraction of the total opportunity.

Speaking with Surya at SiGMA Asia, Joe looks back at a career in gaming that started in 1988 and covers the market's move from land-based casinos into sports betting, remote gaming and today's growing online sector. His view is that online gaming has now surpassed land-based gaming, creating a new challenge for traditional casinos: how to bring the online and physical experience together.

A major part of the conversation is channelisation. Joe says legal gaming in the Philippines represents only 22% of revenue, with the rest going elsewhere. For him, licensed operators should not see each other as the main competition. The bigger challenge is moving players away from illegal and grey-market alternatives.

The discussion then widens to Asia and other emerging markets. Joe sees further potential in Sri Lanka, East Africa, Vietnam and Malaysia, while remaining much more cautious about markets such as Thailand. He also argues that governments should consider regulation not only as a source of tax revenue, but as a way to introduce player protection, responsible gambling and KYC.

Surya and Joe also discuss crypto casinos, tax structures and the importance of making regulated products competitive. Joe's wider point throughout the conversation is consistent: demand for gaming does not disappear because legal options are removed. If regulated gaming is not available, illegal alternatives will continue to exist.