MACAU BUSINESS Ms Lau added that they had been tapping into the
Korean and Japanese markets even before the pandemic. “Since the two counties opened up almost at the same time as us, we could draw business from there.” With regards to the Chinese market Okada Manila “hasn’t really focused on mainland China”. There is some expectation regarding the impact of a
future mass return of mainland Chinese tourists to the Philippines. “We would benefit from that,” Manida Lau acknowledges. For the second half of 2023, Okada Manila will focus
on tapping into emerging markets and bringing more business from countries such as Vietnam, Thailand, or Laos. Further down the road, the aim is “trying to beat Solaire, which is the number one in the market.” Okada Manila is one of the four integrated resorts with Entertainment City casino licences, alongside Solaire and City of Dreams Manila, and Newport World Resorts. Manila’s Entertainment City is the country’s leading gaming hub, accounting for about two-thirds of the country’s total GGR in the first quarter of 2023. The other major casino cluster is the Clark Freeport Zone, with the remaining segment comprising gambling venues operated by the government regulator-cum- operator, Philippine Amusement and Gaming Corporation (PAGCOR).
“Business as usual” Despite the country’s fast-paced recovery of the Philippine gaming industry, Macau’s takeoff after effectively reopening its borders in January has already dwarfed the Philippine market, as the SAR’s first- semester tally – MOP 80 billion (US$10 billion) – was already four times the Philippines’ GGR. With Macau back on top of the game and Singapore’s robust performance, regional competition is here to stay. These three jurisdictions are set to vie for a share of the overseas market, as Macau, despite arriving late for the post-COVID gaming party, is recovering fast and focused on attracting more clients from international markets with a number of promotional events taking place in recent weeks in Singapore, Thailand, Malaysia, Indonesia, South Korea, Japan, and Portugal. Okada Manila made headlines last year as
representatives of the company’s founder, Kazuo Okada, forcibly took control of the property for three months. However, in September, the board, backed by Okada Manila’s parent company, successfully regained control of the property. In July 2023, a court in the Philippines issued arrest warrants for Kazuo Okada and several associates accused of syphoning money from Okada Manila during the forceful takeover of the casino resort in 2022. Despite all this noise, “for us over here, it’s business as usual.”
“Since the two countries [South Korea and Japan] opened up almost at the same time as us, we could draw business from there” – Manida Lau, VP, Okada Manila
22 SEPTEMBER 2023
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