Showing posts with label Philippines gambling industry. Show all posts
Showing posts with label Philippines gambling industry. Show all posts

Thursday, February 8, 2018

Philippines Casino and Gambling Market Research Report to 2022: Ken Research

How Casino & Gambling Market Is Positioned in the Philippines?
Gambling in the Philippines has been present from the 16th century. Gambling has been legal in the Philippines since 1976, official announced by then President Ferdinand Marcos, creating the Philippine Amusement and Gaming Corporation (PAGCOR). 
The casino and gambling industry of the country is quite vibrant with its respective ups and downs occurring occasionally currently the industry is growing at a CAGR of ~% during 2011-2015.  In 2015-2016, the industry has experienced certain difficulties as major gambling operators posted a decrease in net profit for the first two quarters of the year.
The Philippines is slowly but steadily rising in the gaming industry establishing itself as the gaming capital in Southeast Asia. The growth can be attributed to Manila’s Entertainment City, which consists of first-class casinos and hotels. These hotels and casinos are a huge source of tourism, which brings in additional revenue for the country.
The casino industry in the Philippines has increased from USD ~ million in 2015 to USD ~ million in 2017. Growing number of Chinese tourists in the country has augmented the market the casino industry in the country. Chinese gamblers have contributed a share of ~% in 2016. Chinese tourists have increased from ~ thousand in 2014 to ~ thousand in 2016. Visa-free access for Chinese visitors and junket-based proxy betting has augmented the growth of the Chinese tourists in the country. A visa waiver entitles visitors to come to the Philippines and stay from 14 days to a maximum of 150 days in the country.
The government handles gambling through the Philippine Amusement and Gaming Corporation (PAGCOR) which aims to regulate and operate games of chance, and to generate government funds. The Philippines has more casinos than Macau, with twenty found in Metro Manila alone. Growing local economy of the Philippines has a positive impact on the casino and gambling industry. The casino industry in the country is not entirely dependent on the international tourists.
How Casinos & Electronic Sites are performing in the Philippines Market?
Casinos have majorly contributed in the revenues of the industry with the share of ~% in 2017. Casino market has grown at a CAGR of ~% during 2012-2017.Growing number of casinos in the country and expansion of junket, non-junket and mass services have driven the revenues of the casino industry in the country. Growth in the Chinese tourists and increasing revenues from the VIP segment has further supported the growth of the casino industry.
The casinos are part of much larger hotel, leisure and retail developments made by leading domestic and overseas industrialists and totaling billions of dollars.
The revenues from electronic gaming has increased from USD ~ million in 2012 to USD ~ million in 2017, growing at a CAGR of ~% during the period. Electronic gaming has been gaining popularity in last few years in the country. With the growing internet penetration in the country, the targeted audience for this segment is increasing. The internet users in the country have grown from ~ thousand in 2012 to ~ thousand in 2017. Electronic games in the gambling industry includes online poker, online sports betting, Bingo, online lotteries and other online gambling games.
Which service is preferred more in PAGCOR Casinos Junket, Non Junket or EGMS in Philippines?
EGMS have contributed a share of ~% in the revenues of PAGCOR in 2016. Electronic gaming machine is a modern video gaming machine used in casinos and arcades. These machines are electronically operated. Poker is the most popular EGM played in the Philippines. Poker games and slot games are far more advanced than other games because they use digital computer technology to power the games.
Non junket is the second largest contributor in the revenues of the industry with the share of ~% in the revenues in 2016. Non Junket segment is mass gaming without any perks or entry fee or limitation to the amount of money gambled during a particular period.
Junket services have contributed a share of ~% in the revenues of the industry in 2016. Junkets are complimentary or paid trips to casinos, offered to certain VIP players or groups of VIPs. Gaming tables in the government casinos can be classified into high roller, non high roller tables and junket tables. The maximum share of junket tables to total gaming is around ~% in 2016.
How are Government & Licensed Casinos Performing?
Licensed casinos have dominated the market of casino industry with the share of ~% in terms of revenues in 2016. Resort world manila, City of dreams Manila and Bloom solaire are the largest licensed casinos in the country.
The licensed casinos in the country are governed by PAGCOR. Local Population as well as international tourists is the customers of licensed casinos. Government casino has contributed a share of 20.3% in the revenues of the industry in 2016. The share has declined from ~% in 2014 to 20.3% in 2016 owing to the opening of new private casinos in the country.            The state run casino PAGCOR has the authority to give further licenses to casinos, traditional and electronic bingo parlors, electronic gaming outlets, sports betting kiosks and poker rooms to private entities (licensed casinos).
How Tourist from Different Countries Driving Gambling Growth?
Local Filipinos have contributed majorly in the revenues of the casino industry in 2017.  Increasing number of UHNWIs in the country has triggered the revenues of the industry by local customers. Local customers majorly consist of slot and mass category. Chinese/Macau/Hong Kong has contributed a share of ~% in the revenues in 2016.
Growing number of Chinese tourists in the country has surged the revenues from Chinese gamblers. Improving tie ups between china and the Philippines has led to increasing number of Chinese tourists in the country.
Which Class Category (VIP, Slots, Mass and ETG) is Peforming Well?
The VIP category is the dominating category in the segment contributing ~% in terms of revenue in 2017. Slot is the second largest contributor in the revenues of the casinos in 2017. Growing number of slot tables in government and licensed casinos in the country has contributed in the growth of the revenues from slot segment. The mass category has added a share of ~% in the revenues of the casinos in 2016.
How the Competition is prevailing in Casino Market
The Philippines gaming sector has become one of the most lucrative markets in Asia amid the country’s robust economic expansion. The casino industry in the Philippines is highly concentrated with the presence of few leading players in the market. The major players in the market are PAGCOR, city of dreams manila, Bloom Solaire and Resorts world manila. Most casinos in the Philippines are integrated casinos that had a hotel and a resort integrated with the casino. Casinos provide services such as VIP and non VIP gambling to its customers.
Competition in the mass gambling services is also very high as casinos offer beverages free snacks and cigarettes as a part of the package. The industry is highly competitive and various innovations in services happen at regular intervals.
Number of tables, EGMS, International & local customers are the important competition parameters in the Philippines casino and gambling industry. Other competition parameter among the players in the industry includes Entry Fees, Location of the Casino, Services Offered and minimum and maximum betting price.
What is the Future Outlook for Casino & Gambling Market in the Philippines?
The gross gaming revenues for casino and gambling industry are anticipated to increase at a CAGR of ~%during the period 2018-2022, with revenues been reported at USD ~Million by 2022.
By 2020, the gross gaming revenues for casino and gambling is likely to be evaluated at USD ~ million. One of the major trends which is likely to support the growth of casino and gambling industry is the integration of casino with the hospitality. Casinos in Philippines can be seen as a source of luxurious entertainment for people with high disposable income and time. With casinos' inability to attract a younger audience, they are looking at alternate methods to increase their customer base and business. One such method is closer association with the hospitality sector.
Philippine gaming sector’s future success is actually dependent on its ability to attract high-rolling Chinese visitors as they are the ones who spend the most and these casino in Philippines attract highest proportion of audience from Chinese countries.
Companies Cited in the Report
List of Companies                                                           Companies Covered in the Report
Pagcor
Resorts World Manila
Bloom Solaire
City of Dreams Manila 
Instawin
AB Leisure Exponents
Mega sports world, Okada Manila                                    Major Players in Casino Market
Manila Jockey Club
Philippines Racing Club
Premium Leisure Corporation
Casino Filipino Binondo
Casino Filipino Citystate
Casino Filipino Malabon
Master Poker Sports Club
Key Topics Covered in the Report:
Philippines casino industry
Philippines gambling industry
Philippines Mobile gambling market
Online gambling market Philippines
Number of gaming tables in Philippines
Licensed casinos in Philippines
Government casinos in Philippines
Online gambling sites in the Philippines
For more information, refer to below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204

Tuesday, January 30, 2018

Philippines Casino and Gambling Industry is forecasted to reach around USD 7 Billion by 2022: Ken Research

Philippines Casino Market Segmentation by Casinos and Electronic gaming sites, by licensed & government casinos, by category (EGMs, Non-junket, Junket) for PAGCOR Casinos, by category (EGMs, Non-junket, Junket) for Licensed Casinos, by nationality (China/Macau/Hong Kong, Korea, South East Asia and Local), by electronic games (Bingo Games, Other Electronic Games and sports Betting), Consumer Profile of Philippines casino market, Company Profile of Major players in the Philippines casino market (PAGCOR, Resorts World Manila, Bloom Solaire, City of Dreams Manila, Instawin,  AB Leisure Exponents, Mega sports world, Okada Manila,  Manila Jockey Club, Philippines Racing Club,  Premium Leisure Corporation,  Casino Filipino Binondo, Casino Filipino Citystate, Casino Filipino Malabon,  Master Poker Sports Club) and Electronic gaming sites (Instawin, AB Leisure Exponent, MegaSportsWorld)
Integration of casino with the hospitality sector will further support the growth of the casinos in industry in coming future.
Rising number of UHNWI in the casinos will increase the demand for VIP category in the casinos.
The Philippines is seen to be the next big thing in Asian gaming given its robust growth prospects and the surge in Chinese tourist arrivals.
Philippines Casino industry is in the nascent stage with the last 5 year CAGR of 17.2% from 2012-2017.
Integration of casino in the hotel sector has supported the cross business growth for casino and gambling and accommodation industry. Casinos in Philippines can be seen as a source of luxurious entertainment for people with high disposable income and time. With casinos' inability to attract a younger audience, they are looking at alternate methods to increase their customer base and business. One such method is closer association with the hospitality sector.
Also, the growth of the ultra high net investors in the forecasted period will be a huge growth driver to the casino industry. Philippines nationals have been gambling for the last 400 years and it is a tradition to gamble in the country. The UHNWI are estimated to grow at an average of 8% in the forecasted period.
Market will be driven by growing Chinese, Korean tourists, expansion of service portfolio, Growth in the VIP segment and entry of foreign casinos.
Analysts at Ken Research in their latest publication “Philippines Casino and Gambling Market Outlook to 2022 – By Licensed and Government Casinos and Electronic Gaming Sites (Bingo Games, Electronic Games and Sports Betting)” believe that increasing cyber and Physical security activities, focus on marketing & promotional activities and tie ups with hotels and resorts with the casinos will have positive impact on market.
Philippines Casino & Gambling Industry is expected to register positive CAGR of around 15.4% during the period 2017-2022. Well defined government regulations, expansion in current casino services, growing Korean tourists along with developing infrastructure are expected to have positive impact on the demand for gambling games.
Key Topics Covered in the Report:
Philippines casino industry
Philippines gambling industry
Electronic gaming tables Philippines
Online gambling market Philippines
Philippines Mobile gambling market
VIP category in casino Filipino
Mass category in casino Philippines
Slot category in casino Philippines
Junket services in Philippines
Non-Junket services in Philippines
Regulations in casino industry in Philippines
International and domestic customers Casino Manila
Market share of companies in casino industry Philippines
Major players in casino industry in Philippines
Online players in casino Philippines
Sports betting market Philippines
Baccarat market Philippines
Philippines Bingo market
Philippines Roulette market
Government casinos in Philippines
Licensed casinos in Philippines
Pai Gow Decision Making Parameters
SWOT Philippines casino market
Growth Casino Sector Philippines
Future Casino Revenue Philippines
Sports Betting Market Philippines
Philippines Electronic Gaming Market
Number of EGMs in Philippines
Number of gaming tables in Philippines
Online gambling sites in the Philippines
For more information, refer to below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204