Riskwise Global Capital said the perceived political risk in the Philippines had deterred potential investors in a $1.4 billion project to build an integrated resort in Mactan. “As with many foreign companies who had been working feverishly to undertake projects in the Philippines during 2016, we have experienced investor backlash as a result of political […]
Macau Resources has teamed up with Las Vegas-based hospitality and nightlife company Macro Management to bring celebrity-branded products to two casino resorts it’s planning to develop in the Philippines. The company, which is 73 percent owned by Sino-America Gaming Investment Group, is planning a VIP resort on the island of Napayawan in the province of […]
The attack on Resorts World Manila, a likely public smoking ban and a proposed casino entry fee are putting pressure on the Philippine gambling industry. It was the best-performing in Asia last year and tipped again for strong growth, but smoking bans have never been known to produce a positive effect on revenue, while the attack hits a country that has long struggled with the perception it is not safe.
The Philippines was one of the best-performing casino markets around Asia in 2015, defying the regional slump to post a 17 percent increase in gross gaming revenue. Most of the focus has been on the multi-billion dollar resorts springing up in Manila’s Entertainment City, but industry experts say there’s plenty of opportunity outside of the capital.