Good Morning: The Philippines still has massive growth potential, with the success of Metro Manila prompting the potential set-up of more casino clusters, as PAGCOR aims to break GGR records this year and further. Expert Ben Lee breaks down the focus of operators both in established and upcoming regions, such as Clark, while questioning PAGCOR’s foray into online. And Bloomberry Resorts managed to double its profits in the first three quarters, hitting $148 million. Meanwhile, Melco has delivered solid 3Q23 revenues, narrowing its loss by a third.
What you need to know
- Under the Scope: The Philippines aims to break records, boosting Metro Manila even as it explores Clark and PAGCOR going online.
- Melco Resorts 3Q23 revenues improved 7.6 pct quarter-to-quarter, with the company narrowing its losses by a third.
- The Philippines’ Bloomberry Resorts Corp. delivered a solid nine-month performance, doubling profits to $148 million.
On the radar
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AGB Intelligence
PHILIPPINES
Under the Scope: The Philippines diversifying its offerings
The Philippines is set for continued growth, as PAGCOR predicts GGR to top 2019 levels this year, something operators in Entertainment City have already achieved. Expert Ben Lee notes that operators and the regulator seek to build up markets such as Clark, possibly aiming for new casino clusters within the country. Meanwhile, PAGCOR’s new online push, via Casino Filipino, draws questions as to competitiveness and its ability to react to market shifts.
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