The casino sector in Macau might have been dealt a better hand last quarter, but Asia's top gaming destination could soon face more competition in the region, as the Philippines looks to raise its stake in the sector.
"You know, with more properties coming online, it should increase the size of the (Philippine) market. I think medium- to long-term, everybody's going to do great," said Enrique Razon, chairman and CEO of Bloomberry Resorts and International Container Terminal Services (ICTSI) ー the largest port operator in the Philippines.
A port magnate, Razon entered the casino industry in the Philippines in 2013, investing $1.2 billion in the Solaire Resort. His casino unit, Bloomberry, is one of four companies (including Melco-Crown, Genting and Okada) operating casinos in the Las Vegas-style strip known as Entertainment City in Metro Manila.