The New Center of
ASIAN Gaming Why the Philippines are taking Macau ’ s crown
By Andrew Klebanow
As Asia ’ s gaming industry continues to recover from the pandemic , one market stands out as truly unique . The Philippines , long viewed with a certain degree of suspicion by international casino developers , has emerged as the most dynamic and innovative gaming market in Asia .
Prior to March 2020 , when cross-border travel came to an abrupt halt , Macau was recognized as the center of Asian gaming , owing almost entirely to the fact that it generated over $ 36 billion in gaming revenue in 2019 . Earlier in the decade , Macau had been expected to reach $ 50 billion in annual
Manila is home to multiple high-end casinos in its “ Entertainment City ” section
gaming revenues before the Chinese government ’ s crackdown on political corruption , which in turn caused a wary wealthy sector of the population to move away from conspicuous consumption .
Macau ’ s Zero Covid policy shut down its gaming sector from March 2020 until December 2022 , when both the Chinese and Macau governments abruptly lifted their quarantine restrictions and allowed their citizens to move about more freely . Macau ’ s casinos are now recovering , and are expected to reach pre-pandemic performance by 2025 .
Nonetheless , new regulations limiting junket play coupled with the recent conviction and imprisonment of the industry ’ s most prominent junket promoter will preclude Macau ’ s ability to reach its once lofty goal of $ 50 billion in annual gaming revenue . In fact , rather than promoting its gaming sector , Macau ’ s government appears intent on diversifying avenues of economic growth and attracting other types of visitors at the expense of gaming revenue growth .
The Philippines has taken a decidedly different approach . Rather than constraining its gaming industry , the government continues to support it , and has also allowed the sector to introduce a variety of new products while supporting the development of its brick-and-mortar casinos .
Entertainment City
When a plan to develop the Bagong Nayong Pilipino Entertainment City Project ( Entertainment City ) on reclaimed land in Manila Bay was first announced , few international developers paid much attention . Poor highway infrastructure , gridlocked city streets and an overcrowded airport made Manila a less-than-desirable location for integrated resorts .
Potential developers also feared that a casino development in the Philippines could raise the ire of regulators in domestic jurisdictions where they had gaming operations , and cited that as further reason to dismiss Entertainment City as a suitable place for casino development . Only after the successful opening of Solaire Casino Resort in 2013 and the subsequent openings of City of Dreams Manila in 2015 and Okada Manila in 2017 did some operators realize that they may have missed a lucrative opportunity .
Indeed , Entertainment City has succeeded far beyond initial expectations . Access to the project improved dramatically with the construction of an expressway that connects the area to the airport and Makati City , Manila ’ s central business district . Infill projects , in the form of high-rise residential and commercial developments , boosted Manila Bay ’ s population , and in turn increased local visitation to the casinos . Collectively , Entertainment City ’ s casinos generated US $ 3.2 billion in gaming revenue in 2019 .
Entertainment City continues to evolve . Construction is proceeding on Westside City , a new integrated casino resort that will house a casino with 400 table games and 1,200 slot machines . That project will include the 1,930-key Grand Westside Hotel . Just north in Quezon City , Bloomberry Resorts Corp ., owner of Solaire Resort Casino , is proceeding with development of a new casino resort branded as Solaire Resort North . The company has also begun planning for a third casino-resort to the south in Puerto Azul .
34 Global Gaming Business SEPTEMBER 2023