The Philippine Las Vegas-style gaming hub noted a continuous increment in casino revenues.
Philippines.- PAGCOR released yesterday July’s register of Entertainment City casinos results. Information shows a continuous increment in gross casino revenue in the Asian gambling hub, with a constant strength capable of sustaining until year end.
“We are seeing continuous improvements in GGR for Entertainment City casinos, up 24.5 percent year-on-year in July, mainly from the inclusion of Melco Crown Philippines. This is now fully operational, unlike last year,” added Maybank’s analysts, largest bank and financial group in Malaysia.
Gross casino revenues in Philippine Amusement and Gaming Corporation’s gaming city, previously known as Manila Bay Tourism City, grew at 38 percent year-on-year in 16Q2, ahead of a 2 percent forecast for 2016 fiscal year end.
“We think casinos’ strength emanated from the availability of phone betting to foreign players, unlike in Macau,” explained the Maybank’s brokerage. The rising results were obtained from the operators of every casino in Entertainment City, including Resorts World, Solaire and City of Dreams Manila.