ALB Philippines Client Choice 2021 | Asian Legal Business legalbusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from legalbusinessonline.com Daily Mail and Mail on Sunday newspapers.
May 4, 2021
In the Philippines and the giant Resorts World Manila and Solaire Resort and Casino properties have reportedly followed their neighboring Okada Manila venue in being officially licensed to offer online gaming to domestic punters.
According to a report from Inside Asian Gaming, the authorizations under the Philippine Inland Gaming Operator (PIGO) scheme were revealed by the Chairman and Chief Executive Officer for the nation’s Philippine Amusement and Gaming Corporation (PAGCor) regulator, Andrea Domingo. The source detailed that such licenses are to give the venues the ability to offer a wide range of iGaming entertainment including video slots and live-dealer games to afficionados in the Philippines that have first registered.
iGaming license awarded to Okada Manila worldcasinodirectory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldcasinodirectory.com Daily Mail and Mail on Sunday newspapers.
April 19, 2021
In the Philippines and the operator behind the giant Okada Manila integrated casino resort has reportedly detailed that the 993-room property saw its first-quarter gross gaming revenues decrease by some 42% year-on-year to just over $109.2 million.
According to a report from Inside Asian Gaming, the revelation from the Tiger Resort Leisure and Entertainment Incorporated subsidiary of Japanese conglomerate Universal Entertainment Corporation came after the Entertainment City facility was shuttered for the final 17 days of the quarter owing to the ongoing coronavirus pandemic. The source explained that this temporary closure had also led to the 110-acre development recording a drop of 35% year-on-year in adjusted earnings before interest, tax, depreciation and amortization to around $14.2 million as visitor numbers plummeted by 52% to roughly 572,000.
In Part 1, the cover story of the
IAG January issue, we examined the current state of play of integrated resort (IR) development in Japan including its rationale, recent events affecting the rollout, the pros and cons of likely IR locations and the current timeline. In Part 2, we compare and contrast the various candidate operators in the race.
Japan is the holy grail of the global integrated resort industry – one of the last remaining advanced economies in the world without casino gaming. In theory at least, a Japan integrated resort ought to be very lucrative.
Japan’s US$5 trillion economy is the third largest in the world, it’s a wealthy nation with a GDP per capita around US$40,000, and its local population has a proven propensity to gamble – with an enormous pachinko industry and the world’s largest horseracing market. Add to that a unique culture, spectacular architecture and design, and an exquisite F&B offering which attracts visitors from across the globe, and