"We looked at Philippines a couple of years ago, and we decided not to go there. I’d say probably partly to do with the market, certainly about the ability of the market to grow,” Bowers said in an interview with BusinessWorld during recent Global Gaming Expo Asia forum.
The Nevada-based operator, which has multiple properties in the US and China, is currently focused on the Japanese market, according to Bowers. "There’s a country risk element in doing business in the Philippines and it’s really high. My concern is that the Philippines is maybe getting a bit oversaturated because you already got operators and there’s another one building,” he said.
The Philippines’ Entertainment City is envisioned as Asia’s Las Vegas-like entertainment complex. Three casinos are currently operating within the property owned by the Philippine Amusement and Gaming Corporation (PAGCOR), namely City of Dreams Manila by Melco Crown Philippines (Resorts) Corp., Solaire Resort & Casino by Bloomberry Corp. and Okada Manila by Tiger Resorts, Leisure & Entertainment, Inc.
Bowers said MGM evaluates a country’s specific risks regarding regulation, market feasibility, and market size, in determining its business model. "And I don’t know whether that’s going to be too much because you need to bring people in. Whereas the local market has only a certain size,” he noted.
Source: GMB / Innovate Gaming / bworldonline.com
