At the 2024 ASEAN Gaming Summit, a group of senior gaming operators gathered in Manila to express their views on the growth prospects of the Philippine gaming industry.

Experts agree that the Philippines has shown strong growth momentum, especially from outside Metro Manila. Upcoming projects in Clark and Cebu are likely to further solidify the Philippines’ status as an integrated resort hub. Experts expect at least five to six integrated resorts to open in the coming years, making the Philippines an attractive gaming destination.

The panel discussion, moderated by IgamiX Managing Partner Ben Lees, featured Hakan Dagtas (COO, Newport World Resorts), Angel Sueiro (COO, PH Resorts), Lorraine Koo (Corporate COO, Dowinn Group) and gaming consultants David Lawrence agrees that the market is still growing but has not yet reached a saturation point. However, as competition becomes increasingly fierce, resorts must offer quality products to succeed.

Human resources are cited as one of the key challenges to growth, with the gaming industry having to compete with industries such as airlines and cruise ships to find and retain employees. The panel agreed that any local events must be well regulated to build trust among visitors.

The Philippines is an excellent choice due to its unique combination of natural beauty and gambling opportunities. Experts point out that tourists visit the Philippines not just for the casinos, with destinations such as Boracay also attracting attention. The island will have its first boutique resort in 2026. When discussing whether online gaming poses a threat to brick-and-mortar operators, panelists believed that the two complement each other more than compete with each other, as they attract different customers and different gameplay.

Finally, the discussion reviewed the financial health of Metro Manila's four operators as they outperformed rivals such as Macau during the post-pandemic recovery. Experts agree that the current slowdown in financial growth is likely due to renewed efforts by other destinations as well as local factors such as high inflation.