Tourism seen perking up brick-and-mortar PH casinos
Provided by Philippine Daily Inquirer.
MANILA, Philippines — Unicapital Securities Inc. said in its midyear outlook report that the tourism sector “remains a key area to watch,” with its growth trajectory “moving in the right direction.”
“To close the gap and recapture lost ground, the country will need to go beyond recovery and focus on reinvention — a sharper brand, tourist-friendly policies and seamless travel experiences,” it said.
This way, Unicapital pointed out stronger tourist inflows could reinvigorate gross gaming revenues (GGR) across segments and support growth in casino operators’ other businesses, including hospitality.
For instance, the VIP segment of Bloomberry Resorts Corp. in Solaire Entertainment City has been taking a huge blow mainly because of the closure of junket operators and stricter Chinese visa policies following the forced exodus of Philippine offshore gaming operators.
Meanwhile, its mass market segment in Solaire North in Quezon City is gaining ground.
According to Unicapital, Bloomberry’s VIP segment accounted for 40 percent of its GGR in the first quarter of 2023. This dropped to just 29 percent in the first quarter of 2024 and 19 percent in the first quarter of 2025.
But with the slow recovery of foreign tourist arrivals, Unicapital noted that the VIP segment’s recovery may be “on the horizon.”
Data from the Department of Tourism show that tourism accounted for 8.9 percent of the country’s gross domestic product last year, contributing P2.4 trillion to the economy.
While this represents an 11-percent year-on-year growth, Unicapital pointed out that this was still below the P2.5-trillion peak before the pandemic hit in 2020.
“Much of this lingering gap can be attributed to the continued underperformance of the accommodation services segment, weighed down by the sluggish recovery in international tourist arrivals that remain well below prepandemic levels,” it said.
Visa facilitation in the country is also less favorable compared with its regional peers, with Thailand, Indonesia, and Vietnam offering more flexible and tech-enabled visa systems.
Travel infrastructure is also a challenge. Citing data from the World Economic Forum, Unicapital said the Philippines scored lowest among its neighbors when it came to tourist services and infrastructure.
Still, Unicapital said this presented “massive headroom” for growth, paving the way for attracting more foreign tourists.
“With investments and support from both the public and private sectors, Philippine tourism holds the potential to regain — and even surpass — its former glory,” Unicapital said.
(2025/08/25-02:08)
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