MANILA, Philippines – By 2016 the Philippine gaming industry will capture about 8% to 10% of the profits seen in the Chinese gambling haven of Macau, an official of a casino company said.
“The Macau market which is $35 billion today will be around $50 billion by 2016 if everything goes well,” said Belle Corp. Vice Chairman Willy Ocier, implying that the Philippine gaming market would be worth $4 billion to $5 billion at that time.
He said the Philippines would benefit from traffic coming from all over Asia and improvements in infrastructure.
Currently, there are only 2 major gaming operators in the Philippines: government-run Pagcor and Resorts World Manila.
But Henry Sy-led Belle Corporation, Enrique Razon Jr.’s Bloomberry Resorts Corp., and Andrew Tan’s Alliance Global and Japanese-led Universal Entertainment are all setting up gaming and hotel complexes in the new Pagcor Entertainment City.
“$1.2 billion is the current revenue of the gaming industry and it is currently divided by Resorts World and Pagcor. By the end of next year we will have 2 new players, including Bloomberry (Resorts Corp.) and ourselves,” said Ocier.
Though Belle will compete with these other casino operators, Ocier sees their arrival as a positive sign of profits to come. He believes having more players will draw more traffic since that has been the model in gaming hubs like Las Vegas and Macau. – Rappler.com