Andrew Tan, head of Alliance Global Group which jointly owns Travellers International Group with Genting Bhd, said the Philippine gaming industry is insulated from Macau’s gambling woes.
Tan was cited in a local media report as saying that Travellers’ Resorts World Manila property is targeting lower-end travellers than those visiting Macau.
"Our definition of VIP is not as big as in Macau…The foreigners who come and play or visit our casino, these are not the very high rollers. These are just the regular customers," he was cited as saying.
RWM was Manila’s first integrated resort. It’s now facing increasing competition after Bloomberry Resorts opened the Solaire Resort and Casino in 2013 and Melco Crown Entertainment launched its City of Dreams Manila in December.
"We welcome competition, especially good competition. I think in the long term, it's good for the industry. The Philippines will now become a destination because it has hotel rooms and attractions to attract more tourists," Tan reportedly said.
Citi Research predicts the Philippines will be the fastest growing market in Asia in 2015, up about 32 percent, as visitation to the new properties drives growth. However, the U.S. firm says some of that growth will come at the expense of RWM, which appears to be losing market share.
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