The latest rankings of the Philippines’ wealthiest entrepreneurs, as compiled by Forbes for 2025, reveal that the Sy siblings, Enrique Razon Jr., and Manuel Villar continue to lead the pack. Despite the ongoing economic fluctuations and challenges in the market, these casino magnates remain at the forefront of the nation’s richest individuals.

The Sy Family: Leading the List Despite a Drop

The Sy siblings, heirs to the late retail tycoon Henry Sy Sr.’s expansive SM Group empire, retain their position at the top of the Philippines’ 50 Richest list. Their estimated net worth now stands at $11.8 billion, a decline of $1.2 billion from the previous year. The SM Group, well-known for its dominance in the retail, real estate, and banking sectors, is continuing its ambitious growth plans, including a $9 billion investment to expand its real estate footprint over the next five years. However, their gaming subsidiary, Belle Corp, has chosen to pause its push into online gaming while awaiting clarity from local regulators on the future of that sector.

In second place is Enrique Razon Jr., the chairman and CEO of Bloomberry Resorts Corp, the company behind the prominent Solaire Resort & Casino. Razon’s fortune has risen to $11.5 billion, up by $400 million from last year. His impressive growth is attributed to both his successful port business, International Container Terminal Services (ICTSI), and his growing gaming empire. Razon recently expanded his holdings by launching the Solaire Resort North in Quezon City, adding another prominent casino to his portfolio. His operations are now deeply ingrained in the country’s gaming and infrastructure landscape, which is driving his sustained wealth.

Following closely behind in third place is real estate magnate Manuel Villar, with an estimated net worth of $11 billion, up by $100 million from last year. Villar is best known for his property ventures and his ongoing transformation of Golden MV Holdings into Villar Land Holdings, which is currently constructing a massive 3,500-hectare mixed-use development, Villar City. The city, expected to take decades to complete, will feature two casinos, among other amenities like a business district, golf courses, and recreational facilities. Despite some setbacks, including the suspension of share trading in May 2025, Villar remains a significant player in both the real estate and casino sectors.

Additional Notable Casino Investors

Other notable figures on the list include Lance Gokongwei and his siblings, whose Robinsons Land group owns the NUSTAR Resort & Casino in Cebu, with a combined net worth of $1.8 billion. Andrew Tan, chairman of Alliance Global Group, the parent company of Newport World Resorts, comes in at 15th with a fortune of $1.65 billion. Eusebio Tanco, who chairs DigiPlus Interactive Corp, rounds out the casino investors in the top 20 with $1.1 billion.

As reported by GGRAsia, Dennis Uy, once a rising star in the Philippine casino sector, has dropped off the list this year. His conglomerate, Udenna Corp, which owns PH Resorts Group Holdings, was behind the stalled Emerald Bay Resort Hotel and Casino project in Cebu. Despite his previous position in the rankings, the delay in the project and financial setbacks have pushed him off Forbes’ list of the country’s richest individuals for 2025.

While the overall wealth of the country’s top 50 richest increased by 6% to a total of $86 billion, individual fortunes have fluctuated due to external factors, including macroeconomic uncertainty and changes in the global market. However, the gaming industry, particularly casino operations, remains a central pillar of the country’s wealth creation. With major players like Razon and Villar continuing to expand their gaming resorts, the future of casino investments in the Philippines looks bright.