The integrated resort expects VIP revenue to overtake current gaming revenue.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- During a presentation at the ASEAN Gaming Summit,\u00a0Trevor Hammond<\/strong>, vice president of gaming operations at NUSTAR Resort and Casino, said gaming revenues could represent 80 per cent of overall revenue once the project is completed.<\/p>\n\n\n\n The integrated resort in Cebu had\u00a0a soft opening in May<\/a>\u00a0after several delays\u00a0due to the Covid-19 pandemic<\/a>. It will eventually have three hotel towers. Tower 1 will be super high-end, Tower 2 will be five-star and Tower 3 will be for the MICE market.\u00a0The final casino will cover \u200b\u200b21,000 square metres\u00a0and include 1,500 slot machines and 500 tables.<\/p>\n\n\n\n Hammond said: \u201cThe mall itself and the restaurants do very well, but in revenue-generation terms could not be compared to the potential of VIP and premium mass gambling.”<\/p>\n\n\n\n Currently, casino revenue is split about 50-50 between gaming tables and slot machines as the IR has no VIP gambling operations. However, Hammond said that once the VIP lounges open, revenue from that segment would overtake that from the existing operation.<\/p>\n\n\n\n Daniel Cecilio, licensing and regulatory group chief of the\u00a0Philippine Amusement and Gaming Corporation\u00a0<\/strong>(PAGCOR) has told Reuters he believes gaming revenue in the Philippines will recover to pre-pandemic levels, or surpass them, by 2026 as player confidence slowly returns.<\/p>\n\n\n\n Cecilio predicts that annual GGR could reach PHP256bn<\/strong> or more by 2026, with land-based casinos contributing PHP146bn. He said the industry\u2019s recovery will be driven by pent-up demand and a return to confidence among domestic and foreign players.<\/p>\n","protected":false},"excerpt":{"rendered":" The integrated resort expects VIP revenue to overtake current gaming revenue.<\/p>\n","protected":false},"author":176,"featured_media":16789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NUSTAR Resort and Casino in Cebu anticipates its VIP gaming operations, once fully launched, will significantly drive revenue, potentially making gaming 80% of its total income. Concurrently, the Philippine Amusement and Gaming Corporation (PAGCOR) forecasts the nation's GGR will recover to or exceed pre-pandemic levels by 2026, reaching PHP256bn, primarily fueled by land-based casinos and returning player confidence.","focusai_entities":"Trevor Hammond, NUSTAR Resort and Casino, Philippine Amusement and Gaming Corporation (PAGCOR), Daniel Cecilio, Reuters","focusai_location":"Philippines, Cebu","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NUSTAR VIP Strategy","query":"What specific governance frameworks and responsible gaming protocols will NUSTAR implement to mitigate enhanced risks associated with its projected VIP and premium mass gaming revenue dominance?"},{"label":"Philippines GGR Outlook","query":"Beyond pent-up demand, what specific regulatory or fiscal incentives are anticipated from PAGCOR to accelerate the projected PHP256bn GGR recovery by 2026, particularly for land-based casino verticals?"}],"footnotes":""},"categories":[163,158,16333],"tags":[],"class_list":["post-32140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32140"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32140\/revisions"}],"predecessor-version":[{"id":32150,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32140\/revisions\/32150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16789"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Philippines GGR may not return to pre-pandemic levels until 2026<\/h2>\n\n\n\n