At the ASEAN Gaming Summit, IDX Games CCO Peter Johns discussed the Philippines' growing market with PH Resort Group COO Angel Sueiro, Thunderbird Resorts & Casinos Casino General Manager David Lawrence, Nustar VP & OIC of Gaming and IR Trevor Hammond, and Newport World Resorts Senior Director of Casino Gaming Operations Sandy A. Amida.
Johns: Gross gaming revenue (GGR) from licensed casinos in the Philippines jumped more than 29% in Q1 2022. The Philippines is set to become one of the best-performing markets in Asia. What do you all think about the Philippines' growth?
Lawrence: I completely agree with that assessment. Our two properties only started accepting customers again in March this year. Since then, revenues have climbed quickly in the country. However, we should be back to 2019 levels by the end of this year, easily.
Hammond: We’re extremely excited about the prospect of the Philippines. Moving back to 2019 GGR is happening far faster than expected. Nustar is slowly contributing to the Philippines' comeback. We’ve had a very soft opening, but we can’t wait to contribute more in 2022.
Johns: 2019 GGR was around $5.15bn. This year, rough calculations estimate that the Philippines' GGR will be around $3.4bn based on Q1 forecasts. Moving into 2023, the region may get towards 2019 revenue levels. Compared with Macau, which took $36bn in GGR in 2019, it's currently running at $3.2bn for the half year. Is it possible the Philippines can beat Macau’s GGR in 2022?
“In the Philippines, local markets are reliable. Gaming is resilient by nature. And the propensity of people to bet from this part of the world is amazing. Locals, pre-pandemic and post-pandemic are the base of the gambling industry in the country” Angel Sueiro, PH Resorts Group COO
Amida: I represent Resorts World Manila, which has just rebranded to Newport World Resorts. GDP for Q1 of 2022 is higher than Q1 2019. What’s interesting is that, despite two years of the pandemic, once the economy started opening up it has come back to life. GDP for Q1 this year shows us that the economy is moving up, and the confidence of local and international markets.
Sueiro: In the Philippines, local markets are reliable. Gaming is resilient by nature. And the propensity of people to bet from this part of the world is amazing. Locals, pre-pandemic and post-pandemic are the base of the gambling industry in the country. I never question how solid the local market is. The market wouldn’t be here without the locals; people in the Philippines will always be invested in gambling.
In terms of international markets, if we can offer a premium mass product, we will be able to catch international markets in terms of revenue and come to further prominence in Asia. At the moment, I don’t think we have the international appeal as somewhere like Macau.
GLI appoints Barrie Wilson as Manager of Client Services
Gaming Laboratories International (GLI) has appointed Barrie Wilson as its new Client Services Manager.
Based in GLI’s Sydney lab, Wilson will work with land-based, iGaming and lottery clients in the Asia-Pacific region. He joins the company with a “unique skill set and has an impressive background in leadership and management roles throughout his career,” GLI stated.
He most recently served as a Professional Year instructor at Performance Education in Sydney, where he trained students on strategies for successfully integrating into the Australian business workforce. Wilson has also served as a Business Instructor at Atwea Community College in Newcastle and Queen Ann College in Sydney.
Crane Holdings reports 7% growth in Q2 sales
Crane Holdings, which provides industrial payments to land-based casinos, has reported a 7% year-on-year growth in sales for Q2 2022.
The company also reported order growth 14% higher than Q2 2021.
Furthermore, Crane’s GAAP earnings per diluted share were $4.93, inclusive of a $3.58 per share after-tax gain on the sale of its subsidiary Crane Supply, compared to $2.33 for Q2 2021.
Missed a big gambling industry story in Asia? Don't worry, Gambling Insider has you covered with our Asia round-up.
