Analysts at Morgan Stanley have reduced their 2016 gross gaming revenue estimates for the Philippines casino market to US$1.6bn based on growth of eight per cent year-on-year, compared to previous estimates of $1.7bn.

Philippines

MS Research said that, excluding City of Dreams Manila, “same-store sales growth” for Resorts World Manila and Solaire would only grow by three per cent.

“Our GGR expectations for the three casinos in the Philippines are 17 per cent to 54 per cent lower than consensus for 2016 and 2017. Our reduction is mainly due to lower volume growth in the VIP segment.”

Source: Asia Gaming Brief