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Philippines
Travellers Q1 revenue up on premium mass and VIP ops
Travellers International, the owner and operator of Resorts World Manila, saw its Q1 revenue decline 24 percent from the prior year, but gained 13 percent sequentially. The company posted a loss of PHP1.1 billion, roughly unchanged from the prior year, parent company Alliance Global said in a...
Melco granted rental concessions by Belle Corp for use of City of Dreams Manila land
The Philippines subsidiary of global casino operator Melco Resorts & Entertainment has reached an agreement with its local partner, Belle Corp, that will see it provided with rental concessions for City of Dreams Manila of up to Php3.73 billion (US$77 million) for 2020 and 2021. Details of the...
Pandemic sparks live casino innovation
The closure of physical casinos and suspension of sports tournaments in 2020 resulted in a banner year for live casino products. Experts believe that even as we return to normality, the live casino boom will be far from over. “As a direct result of Covid, we are seeing and in my opinion will...
Online gambling outflow from Philippines seen as stabilizing
The outflow of online gambling operators from the Philippines is expected to slow, at least for the time being, following amendments to tax regulations and due to uncertainties in neighbouring jurisdictions. Taxation of Philippine Offshore Gaming Operators (POGOs) has become a politically...
Universal eyes U.S. market debut for Philippine IR assets
Universal Entertainment is planning to test U.S. investor appetite for the Philippines by listing the holding company for its integrated resort business in Manila. The Japan-listed company said it has taken on multiple advisors in both the U.S. and Japan to help prepare for a listing on either the...most popular
Universal Entertainment is planning to test U.S. investor appetite for the Philippines by listing the holding company for its integrated resort business in Manila. The Japan-listed company said it has taken on multiple advisors in both the U.S. and Japan to help prepare for a listing on either the...
Projects
Feature
MoF reports on casino businesses’ financial losses
The first casino in Hoi An is about to open after 4 years of construction On June 28, Hoiana Phase 1 is ready to open its doors to customers to experience the first infrastructure. After 4 years of construction, the Hoiana complex project is expected to open to welcome the first guests at the...