Korean players could help drive a 15 per cent annual increase in revenues in the Philippines VIP casino sector over the medium term with domestic demand also playing its part.
Maybank Securities analysts Miguel Sevidal and Alexa Mae Carvajal said: “Korea visitors have led the VIP segment’s recovery so far and this trend is set to continue, with Korean tourist arrivals already hitting 552,000. The Korean VIP base has more than offset the lackluster recovery of Chinese tourist arrivals, which stood at 87,000.”
In mass gaming, domestic play has driven mass tables and slot machines, which accounted for 59 per cent of revenues in the first quarter.
The analysts believe that ‘the country’s below-average GGR per capita and the increasing wallet share of Entertainment City casinos’ will see mass continue to grow.