The figure was up 9.76 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0The Department of Tourism (DOT)\u00a0<\/strong>has reported that the Philippines\u00a0received 4.87 million tourist arrivals in the first ten months of the year. That\u2019s an increase of 9.76 per cent when compared to last year. Some 91.93 per cent of arrivals were foreign tourists, including overseas Filipinos (8.07 per cent).<\/p>\n\n\n\n South Korea remained the biggest source market, accounting for 26.9 per cent of arrivals. The figure was up 11.4 per cent when compared to last year. The United States was the second-biggest source market with 764,124 arrivals (15.6 per cent). The figure was up 2.9 per cent.<\/p>\n\n\n\n There were 321,913 arrivals from Japan, up 30 per cent in year-on-year terms, while\u00a0China remained in the fourth spot<\/strong>, with 280,301 arrivals (up 25.4 per cent). There were 208,727 arrivals from Australia, up 0.66 per cent. Canada, retained its position as the sixth-largest source, with 177,571 visitors. <\/p>\n\n\n\n From Southeast Asia, Singapore accounted for 128,812 arrivals, an increase of 7.67 per cent, and Malaysia 80,892, up 1.6 per cent.<\/p>\n\n\n\n For the full year, the Philippines aims to attract 7.7 million arrivals<\/a>. Last year, it received 5.45 million<\/a>. In July, tourism secretary Christina Garcia Frasco reported that earnings from inbound visitors<\/a> reached PHP282.17bn (US$4.83bn) in the first half.<\/p>\n\n\n\n Melco Resorts & Entertainment <\/strong>has shared the financial results of City of Dreams Manila<\/strong> for the third quarter. Operating revenue was US$118.9m, down 5.05 per cent year-on-year<\/a> but up 9.08 per cent sequentially<\/a>. Adjusted EBITDA was US$45.9m, compared with US$48.7m in the third quarter of 2023. Softer performance in rolling chip and mass market table games was partially offset by better performance in the gaming machine segment.<\/p>\n\n\n\n Rolling chip volume was US$614.3m, compared with US$374.6m in the third quarter of 2023. The rolling chip win rate was 3.88 per cent. The mass market table games drop decreased to US$172.4m, compared with US$214.1m a year before. The mass market table games hold percentage was 32.8 per cent, up from 29.7 per cent. The gaming machine<\/strong> handle was US$1.11bn, compared with US$1.03bn in the third quarter of 2023. The gaming machine win rate was 5.2 per cent. Non-gaming revenue was flat at US$29m.<\/p>\n\n\n\n Chairman and CEO Lawrence Ho<\/strong> said: \u201cIn Manila, despite added competition, City of Dreams\u2019 property EBITDA increased sequentially. City of Dreams Mediterranean and our satellite casinos in Cyprus continue to face challenges due to the conflicts in the region but have had solid increases in property EBITDA quarter-to-quarter.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The figure was up 9.76 per cent in year-on-year terms.<\/p>\n","protected":false},"author":176,"featured_media":17179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines reported 4.87 million tourist arrivals in the first ten months, a 9.76% year-on-year increase, with a full-year target of 7.7 million, generating US$4.83 billion in H1 earnings. Concurrently, Melco Resorts & Entertainment's City of Dreams Manila reported Q3 operating revenue of US$118.9 million, a 5.05% YoY decrease but 9.08% sequential growth, with Adjusted EBITDA at US$45.9 million, impacted by softer table game performance despite strong gaming machine handle.","focusai_entities":"Department of Tourism (DOT), Christina Garcia Frasco, Melco Resorts & Entertainment, City of Dreams Manila, Lawrence Ho, City of Dreams Mediterranean","focusai_location":"Philippines, South Korea, United States, Japan, China, Australia, Canada, Singapore, Malaysia, Manila, Cyprus","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Manila Market Competition","query":"What specific 'added competition' is impacting City of Dreams Manila's market share, and how is Melco adjusting its B2C acquisition and retention strategies?"},{"label":"Philippines GGR Outlook","query":"Given the strong tourism recovery and Melco's Q3 performance, what is the revised GGR forecast for the Philippine integrated resort sector for FY2023 and FY2024?"}],"footnotes":""},"categories":[157,16333],"tags":[23632,23907],"class_list":["post-777020395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020395","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=777020395"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020395\/revisions"}],"predecessor-version":[{"id":777020547,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020395\/revisions\/777020547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Casinos in the Philippines: Melco reports City of Dreams Manila Q3 results<\/h2>\n\n\n\n