Good Morning. Growth and expansion is the name of the game in the Philippines. The CEO of Casino Plus say that significant potential still exists, particularly for companies looking outside of Metro Manila, and the mass market continues to be essential for such growth. Meanwhile, Singapore is aiming to outdo Macau in its post-pandemic recovery, with plenty of capital, talent and resources – particularly after companies and high net-worth individuals shifted out of Hong Kong to the Merlion city. Zooming out, industry analyst Daniel Cheng points out how politics are molding the narrative for IRs – from Macau, to Singapore, Thailand, the US and beyond.
What you need to know
- Philippines with significant potential for growth, particularly outside of the highly saturated Metro Manila area: CEO of Casino Plus.
- Singapore mass and slots revenue has seen a remarkable resurgence, with its recovery to continue to outperform in the next years.
- From New York to Singapore, Macau to Thailand, politics dominate the narrative for integrated resorts, says analyst Daniel Cheng.
On the radar
- Wynn’s UAE gamble “in trouble” if Dubai chooses to allow casinos: analyst.
- Experts divided over Thailand creating an attractive casino environment.
- Melco’s buyback program accounts for about 15% of its market cap: UBS.
- ‘Limited’ impact from China crackdown on illegal money exchange in Macau.
- Jeju Dream Tower casino resort reports almost $20M in May sales.
AGB Intelligence
PHILIPPINES
Strong growth potential outside Metro Manila: Casino Plus CEO
Opportunities still abound for companies looking to make their mark in the Philippines, with the CEO of Casino Plus suggesting to look outside the saturated market of Metro Manila. The new introduction of online play for physical casinos is also proving lucrative, with operators able to engage punters on multiple platforms, and tailor their retention programs accordingly.
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