The gaming market in the Philippines is expected to continue its decline in line with the slowdown of gaming activities in Macau, according to a recent report by First Metro Investment.
In the report, First Metro said the Philippine market still tracks the fortunes of the Macau gaming market. “Listed Philippine casino and hotel operators have seen their share prices decline by more than 50 per cent year-to-date,” the report said.
“Both gaming and retail operations will be in full blast next year so a revenue boost is anticipated,” First Metro said.
Any optimism for local operators is not extended to Resorts World Manila, however. “We expect decreasing market share for Resorts World Manila in Paranaque as gamblers transfer to the Entertainment City complex,” the report stated.
“These integrated resorts have started to alter strategy by growing the revenues of the mass segment. However, this shift will generate lower but stable revenues in the long term.”
Source: Asia Gaming Brief
