Manila’s reputation as an Asian gaming hub continues to grow with its trio of existing integrated resorts enjoying a third straight month of record gross gaming revenue in June.
According to brokerage CLSA, the three properties – Resorts World Manila, Solaire Resort & Casino and City of Dreams Manila – saw GGR rise 22% year-on-year, significantly higher than the 15% previously tipped. Notably, much of this increase was attributed to VIP gaming.
CLSA singled out Bloomberg Resorts, which operates Solaire, as a particularly strong performer with the property having enjoyed its best ever month.
“After breaking through PHP7 billion (US$148 million) for the first time in May, June has broken through the PHP8 billion barrier for the first time, with GGR up 51 percent year-on-year. This is another all-time high, the third month in succession to set an alltime best,” CLSA analyst Marcus Liu said.
“Year to date, we are tracking at +22% year-on-year which is ahead of our above-consensus expectation of +15% for the integrated resorts.”
The performance of Manila’s IRs also comes as a huge positive for Kazuo Okada, whose US$4 billion Okada Manila – located near Solaire and City of Dreams in the city’s Entertainment City precinct – recently announced it would open its doors in November 2016.
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