SOUTH EAST ASIA 16
INSTALLED CAPACITY END JUNE CASINO
PAGCOR – Casino Filipino
City of Dreams Manila
Resorts World Manila
Solaire Resort and Casino
ThunderBird – Poro Point
Widus Hotel and Casino
166 (Source: Pagcor)
Concern over FATF blacklist Julia Abad-Bacay, executive director of the Anti-Money Laundering Council (AMLC), has said that the Philippines might be blacklisted by Paris-based anti-money laundering watchdog, the Financial Action Task Force (FATF) if it fails to include casinos in the coverage of the Anti-Money Laundering Act (AMLA). Abad-Bacay also pointed out that the next mutual evaluation of the Philippines would be in 2018 and inclusion of casinos in the AMLA would be one of the major focuses of the mutual evaluation.
Stability on the horizon? The end result could be a fully licensed and regulated Philippine gambling market spanning both land-based and online gaming. However, concern over Duterte’s mercurial approach to government, which in the industry has so far manifested itself in a ban on online firms targeting Filipinos which has since been reversed, may cause concern for overseas investors. “President Duterte has made it clear he is not a fan of casinos that target Filipinos,” says Klebanow. “There remains uncertainty about how he will treat those gaming operators (who acquire PAGCOR’s assets) once they are no longer owned and operated by a government entity.” Asia Gaming Briefings | November 2016
SOLAIRE RESORT & CASINO
RESORTS WORLD MANILA
Solaire is a 16-hectare gaming and integrated resort complex along Asean Avenue in Parañaque City owned by Bloomberry Resorts. Bay Tower of Solaire consists of a casino with an aggregate gaming floor area of approximately 18,500 square meters (including approximately 6,000 square meters of exclusive VIP gaming areas), with approximately 1,400 slot machines, 295 gaming tables and 88 electronic table games. Bay Tower has 488 hotel rooms and 15 specialty restaurants. Contiguous to the existing Solaire Resort and Casino, the Sky tower consists of a 312 all-suite hotel, additional ten VIP gaming salons with 66 gaming tables and 223 slot machines. It also includes a certified 1,760-seat lyric theatre. The company’s plans to sell its South Korean property, Jeju Sun Hotel & Casino, to Macau’s Iao Kun Holding have hit a stumbling block after a deadline lapsed with no accord having been reached. The operations have been seen as a drag on profitability. An international tribunal also recently ruled against the company, saying it was wrong to terminate the management contract of former partner Global Gaming Philippines.
Travellers International Hotel Group, a joint venture between Genting Hong Kong and Alliance Global, is the owner and operator of Resorts World Manila. Total room count for the group’s three hotels (Maxims Hotel, Remington Hotel, and Marriott Hotel Manila) remains at 1,226 with the occupancy rate in Q2 at 87 percent. Phase 2 at RWM is nearing completion with the addition of 228 rooms in the Marriott West Wing in Q4 this year. Phase 3, which will consist of three hotels, Hilton Manila, Sheraton Manila Hotel, and Maxims II, will be completed by 2018. It will also include an additional gaming area, new retail spaces and six basement parking decks. As of June, PHP8.7 billion of its offering proceeds had been released and used for Phase 3. PAGCOR has approved new gaming capacity of 420 gaming tables and 4,148 gaming machines at the resort. The company recently said it expects to finalize a blueprint for its second resort by June next year.
CITY OF DREAMS The $1.3 billion City of Dreams Manila is owned by Belle Corp and Melco Crown Entertainment’s local unit. The grand opening was held Feb. 2 last year. PAGCOR has approved the operation by City of Dreams Manila of up to a maximum of approximately 380 gaming tables, 1,700 slot machines and 1,700 electronic table games. As of December 31, 2015, City of Dreams Manila had 261 gaming tables, 1,579 slot machines and 83 electronic table games in operation. City of Dreams Manila has six hotel towers with approximately 950 rooms in aggregate, including VIP and five-star luxury rooms and high-end boutique hotel rooms, a wide selection of restaurants and food & beverage outlets, a 4,612.44 square meters family entertainment center in collaboration with Dreamworks Animation, a live performance stage, two international nightclubs and a multi-level car park. It includes an approximately 260 room Crown Towers hotel, Hyatt City of Dreams Manila, a 365 room hotel managed by Hyatt International Corporation and Asia’s first Nobu Hotel with 321 rooms.
OKADA MANILA Tiger Resorts and Entertainment, the Philippine unit of Japan’s Universal Entertainment, plans to open the first phase of its Okada Manila project in December, with an investment of $2.4 billion. Parent company Universal Entertainment recently raised $400 million through a note sale and said it has secured a “significant majority” of the construction costs. The company may invest as much as $4 billion once all phases are completed. A recent jobs fair attracted 10,000 applicants for 8,000 positions on offer. Once fully operational, Okada Manila will feature two luxury hotels, a 30,000 square meters casino floor with 3,000 slot machines and 500 table games, as well as a number of dining, leisure and entertainment options. It will include an indoor manmade beach and club covered by a huge glass dome, high-end and casual dining restaurants, upscale retail shops, trade halls and cinemas. Tiger president Steve Wolstenholme has said the resort, which will feature a huge fountain as its centrepiece, aims to provide Manila with a must-see icon, as well as retail options not yet available in the Philippines.