Morgan Stanley analysts Alex Poon and Praveen Choudhary noted that the entry fee plan would hurt the \u201cgrind mass\u201d segment, a term referring to the lower end of the mass market, and customers who bring their families along.<\/p>\n
\u201cFilipino gamblers view gambling more as an entertainment compared to Chinese gamblers in Macau,\u201d the analysts asserted.<\/p>\n
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The June 2 rampage cast a shadow over a casino sector that was basking in a period of strong growth, bolstered by Philippine President Rodrigo Duterte\u2019s efforts to build bridges with China, which had led to a boon in gaming tourism from that country.<\/p>\n<\/div>\n
As the shock begins to subside, the challenge now for the industry is to restore faith in the safety and security of the Philippines as a tourism destination. And despite their misgivings about the bill, Poon and Choudhary remain bullish on the sector\u2019s future. There is no guarantee of the bill passing, and even if it does, they note, it will have a limited effect on the lucrative VIP segment.<\/p>\n
Operator Optimism<\/h2>\n
Philippine operators who spoke to the UK’s\u00a0Financial Times<\/em> on Monday shared the analysts\u2019 optimism.<\/p>\nGeoff Andres, property president of City of Dreams Manila, said he expected \u201cmore government investment in infrastructure development in the urban areas to ease the traffic flow and linkages to key tourist destinations, and a strong program to support inbound tourists from both domestic and international markets.\u201d<\/p>\n
Meanwhile, CFO for Tiger Resort, Leisure & Entertainment Hans Van Der Sande said the Philippines is \u201cgaining ground\u201d as a travel destination in Asia. The company is building the multibillion-dollar Okada Manila in Entertainment City,<\/p>\n
\u201cEvery time a new large [casino] property has entered the market, the demand has grown to keep up with the supply,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
A plan to impose an entry fee for all casinos in the Philippines would have a detrimental effect on the sector\u2019s thriving mass market, analysts for investment banking group Morgan Stanley said on Monday. The opinion was issued following the introduction of a bill on Friday in the Philippine House of Representatives. Rodolfo Albano III, […]<\/p>\n","protected":false},"author":42,"featured_media":52190,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,13,18],"tags":[],"acf":[],"yoast_head":"\n
Philippines Casino Entry Fee for Deterring Attackers Could Deter Play<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n