Adding a casino entry fee to casinos in the Philippines will have a negative impact on mass-market gambling, said Morgan Stanley analysts in a Monday note.
Last week, Philippine lawmaker Rep. Rodolfo Albano submitted a proposal to impose a P3,000 (US$60.5) casino entrance fee to deter non-moneyed and indebted individuals from entering casinos.
The bill was submitted in reaction to the casino attack on June 2 by gunman Jessie Carlos that killed 38 people.
“The bill seeks to strengthen regulation of the participation or engagement of citizens in casino gambling by ensuring that those who enter casinos and similar gaming establishments have the financial resources to engage in gambling,” Albano said in his bill, quoted by the Manila Times.
“A casino entrance charge will serve as a deterrent to those who lack the resources or can ill afford to engage in gambling from entering a casino,” he added.
If the bill passes, the entry fee could deter grind mass and family customers, said the analysts.
“Filipino gamblers view gambling more as an entertainment compared to Chinese gamblers in Macau,” they explained.