Regions seen as outperformers

Regions seen as outperformers

Regional casinos in the Philippines are likely to resume their outperformance once the global pandemic eases as infrastructure improves and major projects come online. In 2019, casinos in Clark registered a 41 percent surge in gross gambling revenue, while those owned by Thunderbird Resorts posted a 27.5 percent gain. Although in overall terms it’s a drop in the bucket compared with the GGR of Manila’s integrated resorts, the growth outstripped Entertainment City, which saw a gain of 18.4 percent.  Angel Sueiro, chief operating officer of PH Resorts, says that post-Covid the demand from clients is still there and the long-term fundamentals haven’t changed. But in the short-to-medium term, regional casinos in the Philippines will face the same headaches as those elsewhere, with reduced capacity due to social distancing measures and a lack of international travel. “It’s not the ideal situation,” he said. “The local market is enough to pay the bills, but...

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