The upcoming 2022 ASEAN Gaming Summit will be held July 25-27 in Manila, which is just one of the reasons why industry experts are predicting that the Philippines may become the mecca for gaming growth for the rest of the year.
So far in 2022, the country has done away with both internal COVID-19 lockdowns and quarantine requirements for vaccinated travelers. The Philippines Bureau of Immigration (BIR) said that these developments increased daily arrivals from 5,000 to over 12,000 from January to the end of March.
According to data from the World Travel & Tourism Council, the Philippines has been one of the most popular Asian destinations of 2022, as bookings for the second quarter of the year are already up nearly 30 percent from the rates reported for the first quarter.
South Korea has historically been the Philippines’ biggest tourist demographic, and the country has already vowed to restore at least 50 percent of its flight traffic before the year ends.
The international gaming community has been impressed by the country’s recent resurgence, so much so that Philippine tourism officials will give an all-day presentation titled “Bringing Back Tourists” at the ASEAN Summit.
Representatives from U.S. firm Morgan Stanley told Asian Gaming Brief they are predicting the Philippines’ GGR will return to about 85 percent of pre-pandemic levels by the end of 2022.
With that in mind, there are a large number of recently-opened or soon-to-be-opened casinos in the country, and gaming companies are making big bets on the sustainability of the Philippine market moving forward, which is far from certain.
In the next 12 months or so, the Emerald Bay, Solaire North and NUSTAR integrated resorts are all slated to open in various cities throughout the country, and a number of additional properties are still in their first year of operation. If the Philippine market continues to expand, the country could quickly become a top Asian gaming destination, alongside powerhouses such as Macau and Singapore.
The upcoming Philippine elections on May 9 have caused some to express caution in the short-term, as there’s no way to predict the impact that incoming politicians may have on the industry. Regardless of election outcomes, however, the country’s online gaming industry is expected to take a hit, due to a recent ban on eSabong (online cockfighting).
Philippine President Rodrigo Duterte has issued an immediate countrywide ban of the activity. According to the Philippine News Agency (PNA), the move will cost the government over $11 million in monthly tax revenue.
Duterte had previously resisted pressure to halt the industry due to the aforementioned loss of revenue, but a recent recommendation from Eduardo Año, the country’s Interior and Local Government Secretary, was enough to change his mind this time around.
In a taped address that was broadcasted on May 1, Duterte said that “the recommendation of Secretary Año is to do away with eSabong … I agreed with it and it is good, so eSabong will end by tonight.”
Filipino citizens and politicians had been calling for the ban after a number of cockfighting figureheads and aficionados were abducted or reported missing in recent months.
