Philippine‘s to catch 10% of Macau’s profits
THE GAMING industry in the Philippines is aiming to capture around 10% of Macau’s profits by 2016. Macau is the only place in China where gambling is legal. The latest revelations and hopes come from an official casino company.
“The Macau market which is $35 billion today will be around $50 billion by 2016 if everything goes well,” said Belle Corp. Vice Chairman Willy Ocier, implying that the Philippine gaming market would be worth $4 billion to $5 billion at that time. The rise in profit for the Philipines would be down to the increase in traffic coming from all over Asia, teamed with improved infrastructure.
Currently, there are only 2 major gaming operators in the Philippines: government-run Pagcor and Resorts World Manila.
But Henry Sy-led Belle Corporation, Enrique Razon Jr.’s Bloomberry Resorts Corp., and Andrew Tan’s Alliance Global and Japanese-led Universal Entertainment are all setting up gaming and hotel complexes in the new Pagcor Entertainment City.
“$1.2 billion is the current revenue of the gaming industry and it is currently divided by Resorts World and Pagcor. By the end of next year we will have 2 new players, including Bloomberry (Resorts Corp.) and ourselves,” said Ocier.
