{"id":32988,"date":"2022-08-26T04:31:09","date_gmt":"2022-08-26T07:31:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=32988"},"modified":"2026-04-23T05:29:14","modified_gmt":"2026-04-23T08:29:14","slug":"covid-19-reminded-casinos-of-the-importance-of-local-markets-says-ph-resorts-coo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/covid-19-reminded-casinos-of-the-importance-of-local-markets-says-ph-resorts-coo","title":{"rendered":"Covid-19 reminded casinos of the importance of local markets, says PH Resorts COO"},"content":{"rendered":"\n<p>Jos\u00e9 Angel Sueiro, chief operating officer at PH Resorts Group Holdings, said the local market became relevant again for casino operators after the Covid-19 pandemic.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- <strong>Jos\u00e9 Angel Sueiro<\/strong>, chief operating officer at PH Resorts Group Holdings, has said that one upshot of the Covid-19 pandemic is that it drew casinos&#8217; attention to their <strong>local markets<\/strong>. <\/p>\n\n\n\n<p>Speaking on a panel about market diversification on the second day of Global Gaming Expo (G2E) Asia 2022, Sueiro said that once casinos realise the importance of their local audience, they can start to look more closely at overseas markets.<\/p>\n\n\n\n<p>He also said that resorts must be honest and transparent about their advantages and disadvantages to position themselves for marketing purposes. As for the growth of online gambling, he said that \u201cthe integrated resort experience can expand into the online environment.&#8221;<\/p>\n\n\n\n<p>PH Resorts Group Holdings Inc has recently shared its second-quarter results. It\u2019s reported a&nbsp;<strong>net loss of PHP224m (US$4m)<\/strong>. That\u2019s nearly twofold higher than its loss of PHP95m (US$1.7m) in the second quarter of the year 2021.<\/p>\n\n\n\n<p>The casino operator was<strong>&nbsp;heavily affected by the temporary closure of the Donatela Resort &amp; Sanctuary&nbsp;<\/strong>due to the Covid-19 pandemic. As a result, the group had no net operating revenue for the first six months of 2022.<\/p>\n\n\n\n<p>Due to the lack of operations, the company\u2019s operating loss narrowed down to PHP39m (US$0.7m). For the first three months of the year,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/ph-resorts-net-losses-widen-in-q1\" rel=\"noreferrer noopener\">PH Resorts Group<\/a>&nbsp;had reported a loss of&nbsp;<strong>PHP109.1m (US$2m)<\/strong>, up from PHP80.9m (US$1.5m) in the previous quarter.<\/p>\n\n\n\n<p>The firm is currently developing the&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/ph-resorts-postpones-cebu-ir-first-phase-opening-to-q1-2023\" target=\"_blank\">Emerald Bay integrated resort in Cebu<\/a>, which is due to open its first phase in early 2023. During the presentation of the results, the company said it was in ongoing negotiations with&nbsp;<strong>Bloomberry Resorts Corp&nbsp;<\/strong>to invest in PH Resorts units. PH Resorts said it received a \u201cdeposit payable\u201d of PHP1bn from Bloomberry Resorts as negotiations between the two parties continued.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jos\u00e9 Angel Sueiro, chief operating officer at PH Resorts Group Holdings, said the local market became relevant again for casino operators after the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":20627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PH Resorts Group Holdings reported a significant net loss for Q2 2022, exacerbated by the pandemic's impact on operations. Amidst these financial challenges, the company is developing the Emerald Bay integrated resort in Cebu and is engaged in M&A negotiations with Bloomberry Resorts Corp, which has provided a PHP1bn deposit. The COO highlighted the renewed importance of local markets for casino operators post-pandemic and the potential for integrated resorts to expand into online environments.","focusai_entities":"Jos\u00e9 Angel Sueiro, PH Resorts Group Holdings, Bloomberry Resorts Corp, Global Gaming Expo (G2E) Asia 2022","focusai_location":"Philippines, Cebu","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Bloomberry M&A Impact","query":"What are the specific strategic and financial implications for both PH Resorts Group Holdings and Bloomberry Resorts Corp should the ongoing M&A negotiations for PH Resorts units conclude successfully, particularly concerning market share and operational synergies in the Philippine integrated resort sector?"},{"label":"Online Expansion Strategy","query":"How does PH Resorts Group Holdings plan to operationalize the expansion of its \"integrated resort experience into the online environment,\" and what specific B2C licensing and technology infrastructure considerations are paramount for this digital vertical?"}],"footnotes":""},"categories":[157,16333],"tags":[],"class_list":["post-32988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32988","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=32988"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32988\/revisions"}],"predecessor-version":[{"id":32999,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32988\/revisions\/32999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20627"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}