Casino Resort Development in the Growing Philippine Gambling Market

Plilippine gambling marketWhile some reports may indicate a certain cooling down in the growth of the gambling industry in Asia there continues to be major investment in the region. The casino gambling markets in both Vietnam and the Philippines are among the latest to receive large scale investment and alongside the continuous growth in the key Asian gambling markets of Macau and Singapore these markets are causing the Asian gambling industry to far outstrip that of Las Vegas.
It has been predicted that the Asian market will be the fastest growing in the world over the next few years.The potential for growth in the Asian market has even encouraged the development of casino resorts in Russia which like the new gambling resorts to be built in the Philippines hope to attract players from China, Japan and South Korea. (See article: Russia Plans Major Casino Resorts).
The latest casino resort to be planned in the Philippines capital Manila, involves a partnership between Melco Crown entertainment and Philippine businessman, Henry Sy. Melco Crown entertainment is owned by the son’s of two figures well known in the world of casinos and entertainment, Lawrence Ho is the son of Stanley Ho and James Packer is Kerry Packer’s son. Melco Crown has two casinos in Macau where it is based and the Philippines development will be its first investment outside of Macau. Henry Sy is one of the most wealthy people in the Philippines. As with all recent casino resort projects in the Philippines and also in other Asian countries, the emphasis is on complete entertainment complexes incorporating hotels, convention centres, shopping centres, theatres and restaurants alongside the luxurious casinos.Casinos in the Philippines are regulated and licences are granted by the casino regulator, the Philippine Amusement and Gaming Corporation. The Melco Crown and Henry Sy partnership has been granted a provisional licence for its casino. There are also plans for other casino resorts to be developed in Manila, these include a partnership between the Genting Group and the Alliance Global Group and also a development by the Japanese businessman Kazuo Okada.

The main difference between the casino resorts to be built in the Philippines and those in other gambling centres in Asia such as Singapore and Macau, is the fact that those in the Philippines are backed by Asian rather than international companies.

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