Sector growth ahead for Philippines: CLSA

Philippines GGR grew 7 percent year on year in March, despite the seasonal Easter lull coming earlier this year, said CLSA analyst, Marcus Liu.

“We expect a pick-up in the YoY trend in April,” said Liu, who said tourism data also continues to be strong.

“After a tough 2015, this will likely be the year when the sector grows again,” said Liu.

Gross gaming revenue in the Philippines reached P130 billion (US$2.75 billion) in 2015, marking an increase of 17 percent from 2014, according to PAGCOR chair and CEO Cristino Naguiat Jr.

The Pagcor chief was confident the regional gaming industry would be able to recover.

The CLSA analyst said they expect Melco Crown Philippines to report the strongest Q1 result, with Travellers the weakest.