Casinos in Manila to experience growth

Gambling facilities in the Philippine capital will experience revenue growth over the next few years.

Philippines.- According to brokerage Morgan Staley, Manila casinos will experience revenue growth in the next few years. The development of the economy, mass penetration and a increase in visitation numbers will help boost the growth.

Okada Manila, the newest casino resort in Manila, is growing exponentially with its mass floor being fully operational, as AGBrief reported. Moreover, more junkets are set to start operations during the next and quarter of the year, as the brokerage said. The resort’s growth will also be driven by gaming market growth and strong economy, consumer confidence, strong visitor arrivals and local mass penetration, the news outlet reported.

Entertainment City’s market will experience growth thanks to Okada’s full opening expected for 2018, as well as the opening of more residential areas and the Ayala Mall project, which is also scheduled to open in the upcoming future.

Last month, Morgan Stanley said that Okada Manila hasn’t cannibalised the gaming revenues of neighbouring integrated resorts (IRs), with a rise on gross gaming revenue (GGR) of 20, 28 and 13 percent quarter on quarter in 17Q2.