The Gaming and Casino Industry in the Philippines
Asians are seen to be avid gamblers, due to the development of several gaming establishments in various Asian countries. Macau is the top player in the region, and gambling tourism is their biggest source of revenue. More Asian countries are eager to compete for a share in the revenue in the Asian region. At present, the casino industry of the Philippines is on the rise and is hoping to become a major player regionally and even globally.
Manila is in the process of opening various casino and gaming establishments. In 2014, it earned $2.5 billion in revenues which is an increase of 16% from the year prior. It is expected that the year 2015 will continue to be a bright one for the industry, with double digit growth being forecasted. Over the next three years, the industry is expected to grow by 20%.
It is predicted that the revenue from this industry will reach $6 billion by 2018. This will not only become a major driver of the Philippine industry but will also make the country part of the top four major players in the world. Aside from openings and expansions in Manila, other regions and tourist areas in the country are also expecting investments, such as Cebu and Subic. According to PAGCOR, there is a higher chance of obtaining a license outside Metro Manila.
The surge of casino openings will soon make the Philippines a premier gaming destination. Other countries are looking to benefit from the business lost by Macau. The decline in Macau’s gambling business is due to restrictions imposed by the Chinese government.
Genting Group – Resorts World Manila
Bloomberry Resorts Corp – Solair Resort & Casino
Melco Crown Resorts Corp – City of Dreams Manila
Soon to open in 2015 and 2016:
Tiger Resort Leisure and Entertainment, Inc.
Bayshore City, Inc.
Countries: Philippines and South East Asia
Topics: Getting Started, Market Research, and Sales & Marketing