With just a week left until the ASEAN Gaming Summit, AGB interviews First Cagayan about the trends they are witnessing in Philippines and the wider Southeast Asia region.
What kind of trends do you foresee in Southeast Asia over the next few years?
The regional economies have been able to maintain relative strength over the last five or so years. This overall economic growth seems stable and sustainable enough to continue translating to more disposable income and drive leisure and gaming activities for the foreseeable future. There has been a rapid buildup of resort-type casinos, particularly in Macau, the Philippines, Vietnam and Cambodia and the jury is still out on how long the various regional markets will need to digest the new supply. So it seems that a next wave of construction of massive integrated resorts may not be seen while demand catches up with supply. However, there could be interesting pockets of opportunities for high-end developments with gaming components for VIP players looking for ultra-exclusive luxury destinations.
As technology advances to enhance virtual playing experience, the internet and electronic gaming sector will continue to be a bright spot for the region’s markets, whether these virtual games are played in casinos, game terminals or portable devices. The wide accessibility of such games would ensure a healthy following from the region’s large domestic population base.
How is your company responding to these trends?
LRWC is a leading player in the electronic gaming sector having been a pioneer in providing a quality gaming experience for highly popular bingo formats, as well as virtual casino game offerings, via a network of gaming venues throughout its home market. Its subsidiaries, First Cagayan and LR Data, are at the forefront of the internet gaming sector in Asia as enablers for the licensing and data hosting requirements of Asia-facing international operators and their ancillary service providers. First Cagayan and LR Data have been developing the jurisdiction with state-of-the-art technology and infrastructure, partnering with global Tier 1 telcos, and promoting the Philippines to become one of the world’s leading interactive gaming jurisdictions.
What products are you currently offering in the Philippines/Asia?
First Cagayan is the master licensor for the Cagayan Economic Zone Authority, the Philippines’ and Asia’s first offshore gaming licensing body. LR Data, an affiliate company of First Cagayan, is a bespoke, gaming-centric provider of a wide range of hosting services with robust data center operations located in the Philippines and nodes in key regional locations. Beyond licensing and hosting services, First Cagayan and LR Data strive to offer an extensive range of value-added services including legal consultation services, technical expertise, pre- and post-opening assistance. This kind of close coordination delivers a business-friendly environment leading towards a hassle-free start up for licensees and locators seeking work-life balance. The combined effort and responsibility of the Cagayan Economic Zone Authority, First Cagayan, and LR Data accord gaming operators an appropriate operating base from which they can penetrate the Asia-Pacific gaming markets and the rest of the world.