The firms Alex Poon and Praveen Choudhary
said: "We expect Okada to add US$1.2bn of GGR by 2019 to the overall market,
capturing 32 % market share (Bloomberry 30 %; Melco Resorts Philippines 25 %).”
"We expect the Philippines gaming market to be the fastest growing in Asia (25 %
CAGR in 2017-18) and cannibalisation is not our concern. We expect EBITDA of
existing operators to grow sequentially in second half of 2017 and 2018 due to
slow ramp of Okada. Strong tourist arrivals and NAIA Expressway have brought in
more Chinese and Filipino mass customers from cities outside of Manila
respectively.”
Okada Manila opened in March with only 100 of 993 hotel rooms open. Up to 30 % of its mass market tables are currently affected by construction work.
Source: GMB / GGR Asia
