The Philippine gaming industry is adding value to the country’s real estate sector, as big companies are investing in entertainment and tourism.
CBRE Philippines noted that the recent stream of big gaming companies opening up large-scale operations in the Philippines had lured many big time rollers and gaming enthusiasts from across the world.
“We are bullish on the growth of the real estate-gaming sector especially when private and public entities focus on developments and implementations that will favor investors. If the performance of the sector continues on an uptrend, the Philippines can even rival Macau,” said company chairman and founder Rick Santos.
Real estate for gaming is currently the “sunshine market” in the industry, he said.
The consultancy firm said the strong macroeconomic fundamentals of the country and the recent boost in the purchasing power of the market hade encouraged multinational companies to invest in different real estate businesses, including office, residential, retail, industrial, commercial and recently, gaming.
With several casinos coming online soon, the gaming industry in the Philippines is expected to flourish.
According to a report by Fitch Ratings entitled “Eye in the Sky Series: Philippines,” the new gaming complex or Entertainment City of Philippine Amusement and Gaming Corp. would drive the growth of the sector.
Strong revenues are expected in 2015 through other licensed players, including Travellers International Hotel Group, Bloombery Resorts Corp., Melco Crown (Philippines) Resorts Corp. and Tiger Resorts. Industry analysts expect double-digit revenues as all of the licensed casino operators begin their business.
The new gaming attractions will help the country draw tourists from frequently visiting neighboring cities like Macau, whose casino operators are currently experiencing a slump in revenues.
