Home > Media > Philippines Casino and Gambling Industry is forecasted to reach around USD 7 Billion by 2022: Ken Re

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

Added: (Tue Jan 30 2018)

Pressbox (Press Release) - 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:
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/philippines-casino-gambling-market/142992-94.html
Related Reports by Ken Research
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/asian-gambling-and-gaming-market-research-report/131-94.html
https://www.kenresearch.com/media-and-entertainment/gaming-and-gambling/china-casino-gambling-market-research-report/623-94.html
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-124-4230204

Submitted by:Ankur Gupta
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