Phl makes waves at Asian gaming conference

MANILA, Philippines - The Philippines received rave reviews during a recent gaming conference in Macau after a panel led by Philippine Amusement and Gaming Corp. (Pagcor) chairman and CEO Cristino Naguiat, Jr. presented an overview of exciting gaming developments in the country.

One of the most anticipated gaming events in the region, the G2E Asia 2013 was attended by thousands of gaming industry analysts, investors, bankers, senior casino managers from Macau and other countries, exhibitors and foreign media.

The Philippines, Taiwan and Macau were the focus of the three-day G2E Global Markets Forum where an overview of the industry’s hottest and emerging markets was tackled.

Naguiat reported that in terms of gross gaming revenues (GGR), the Philippine gaming industry generated over $2 billion in 2012, with casinos accounting for 80 percent of the amount. “With two resorts (Resorts World Manila and Solaire) open this year, the casino contribution to total industry revenue will rise further,” he added.

The Pagcor chief also said that the Entertainment City development guidelines demonstrate the Pagcor management’s strong commitment to government’s program of making tourism one of the main engines of economic growth. “Inspired by the able leadership at the Department of Tourism, Pagcor fully supports the national target of 10 million tourist arrivals by 2016,” he said.

The latest updates on Entertainment City also drew interest from the conference participants. “It is generally on schedule. We intend to open one integrated resort per year until 2016 or 2017. So far, two have opened. The next one is scheduled to open middle of next year and the remaining two ideally before 2016. There are a few hiccups from time to time but overall we think the schedules would substantially be met,” said Naguiat.

“Through our participation in G2E, we were able to update movers and shakers of the international gaming industry what we’re doing to make the Philippines figure well as one of the best options for travel, leisure and gaming in Asia,” said Naguiat.

“Many are saying that the Philippines is now a serious contender for the premium Asia-Pacific gaming market primarily through our Entertainment City project. We look forward to welcoming more foreign visitors to our country in the coming months as developments in Entertainment City continue to unfold,” he added.

Ben Lee, managing partner for IGamiX Management and Consulting Ltd., noted that “the audience of professional investors and gaming operators arrived expecting obtuseness but were instead blown away by the forthrightness of the Philippine team headed by chairman Naguiat.”

Lee, who was also the forum moderator, said “the best comment I received in multiples was that this (Pagcor presentation) was the best panel session of the whole conference, something which would not have been possible without the passion and commitment shown by the panel members.”

Roger Gros, publisher of the Global Gaming Business Magazine, said the Philippine panel was very enlightening because of Naguiat’s accurate and informative discussion of the Philippine gaming industry.

Pagcor’s G2E presentation was the most attended among all sessions, indicating high interest in the Philippines.