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Resorts World set to double Manila's gaming revenue
The new Resorts World Manila casino which opened this summer is said to have doubled the number of gaming tables in the city and be on track to increase annual revenue by nearly 125 percent.
The $700m development by Andrew Tan and Star Cruises, located on a former air force base opposite Ninoy Aquino International Airport, could bring in about $430m gambling revenue next year, according to Macquarie analysts. All Manila sites together took about $350m during 2008.
"Our expectation is this will contribute to earnings within the first year of operations," said Kingson Sian, President of Alliance Global Group, Tan's holding company.
The new casino expects to attract around 4m visitors a year. It will draw on Star Cruises' base of more than 2.5m customers and also bus in locals from outside of Manila.
