Southeast Asia has experienced a major surge in 2023, with Covid-19 firmly behind us. It is particularly true of Macau, the heavyweight.
Southeast Asia will continue to be the driving force behind Asian gaming for the foreseeable. We’ve covered it extensively in iGB.
It is clear that the region has all of its cards in hand. The region offers an irresistible combination of top-class gambling resorts, fast-growing economies and irresistible tourism destinations that are worthy of Instagram posts.
This post-COVID boom is largely driven by economic growth. Within the next decade, it is predicted that ASEAN will surpass Japan.
Demographics explain why. Brunei and Cambodia are the largest economies in Southeast Asia, followed by Indonesia, Laos (Laos), Malaysia, Myanmar, Philippines. Singapore, Thailand, Vietnam, Thailand, Philippines. This is the 5th largest economy in the world. It’s just behind India, and 50 percent greater than Canada or Brazil.
According to the ASEAN annual report released in July, which shows exciting numbers. The economy of the bloc grew by 5.2% last and is expected to grow 4.7% this and 5% next year. According to the ASEAN annual report released in July this year, these are some impressive numbers.
Philippines Leading the Charge For Asia Casino
Philippines is an example of a country that continues to be a leader in the field. Bloomberry opened Solaire North, a new resort in Quezon City. This will be followed shortly by another in Cavite to the south, near Metro Manila.
NuStar, the second-largest metropolis in the country, has opened gaming and lodging facilities in Cebu City last year. Two more hotels are in development, along with luxury retail, MICE and MICE facilities.
Six new casinos or improved ones have been opened in Clark, an overnight getaway two hours north of Manila, with its international airport.
Hann Resorts, which operates the Widus Casino in this area for many years, created an integrated resort from it by 2021. The company has ambitious expansion plans that include top-end luxury hotels and golf courses. Rival D’Heights plans to expand both its residences and hotel.
Casino
China is the black swan when it comes the Philippines and Philippine Offshore Gaming Operators (POGOs).
The two countries are still at odds about POGOs. In 2019, Rodrigo Duterte rejected a request from China’s President Xi Jinping to close down POGOs. Continued offshore gambling threatens to deter Chinese tourists, who made up 21% of arrivals in the Philippines before the pandemic.
Ferdinand Marcos is yet to decide on POGOs. Serial senate sessions have highlighted the harmful effects of this sector, such as money laundering.
In January, it was revealed that POGOs are far below the government’s revenue expectations. They produced US$6.25m in total per month last year, as opposed to projections that were more than US$50m. This sector is now less than half of its former size. It generated $1.8 billion GGR in the last year.
Marcos must consider these two facts regarding Philippine offshore gambling, in the face of a ban proposed on POGOs. The proposal is supported by an increasing public outcry and Beijing’s constant pressure. Operators find it difficult to prevent betting coming from China, even with their best intentions and the latest technology. Accepting betting from China is even harder.
The campaign of President Xi Jinping against illegal gambling and capital flight is based on the prevention of offshore betting. Industry observers believe that the Philippines should require POGOs block China’s access to their website.
