Supplier News
Philippines – Philippine casino sector to report 20 per cent increase
By Phil - 20 July 2015
PAGCOR (The Philippine Amusement and Gaming Corporation) has said that the Philippine casino sector will boom by 20 per cent this year with revenue set to hit US$3bn in 2015.
PAGCOR Chairman Cristino Naguiat said: “First-half gaming revenue at the country’s casinos grew 16 per cent to US$1.4bn. The Philippines has a good mix of foreign markets and there are many who really want to come to the country. It’s getting tougher for tourists to get hotel rooms at the resorts. Bloomberry is raking the numbers in, while Melco has been steadily bringing in the people.”
Following the forecast, Bloomberry Resorts Corp., operator of the Solaire casino in Manila, saw its share price increase by eight per cent whilst Melco Crown Philippines, operator of City of Dreams Manila, increased by 8.8 per cent.
