THE United States of America, the leading capitalist country in the world, touts Las Vegas to tourists for over-the-top gambling and entertainment.
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The People’s Republic of China, which purportedly adheres to the Marxist dictum that the working class rules, showcases Macau for residents and tourists keen on literally rolling the dice.

Clearly, gambling – or more specifically, the revenues from it – knows no political color. So what’s wrong if the Philippines follows suit?

When international gaming consultant Dean Macomber, president of Macomber International, visited the Philippines last April, he told the media that the Philippines’ gaming industry could still achieve revenues of up to $1.08 billion in 2010 and $1.8 billion by 2013.

Macomber also promised higher figures once the effects of the Manila Bay Integrated City kick in. The Bagong Nayong Pilipino Manila Bay Integrated City is a gambling and entertainment complex that will sit on 800 hectares of reclaimed land along Manila Bay.

Currently, Macomber said the Philippine gaming revenue is estimated at only $800 million, with a large slice of the pie coming from local players at $613 million.
He said that while it is true that the Philippines attracts up to three million foreign tourists every year, most come in not to gamble but to do business or head for the resorts.

250,000 new jobs

For whatever reason, averred Macomber, the influx of tourists should be treated as a good opportunity for the Philippine Amusement and Gaming Corporation (Pagcor). The first step in pursuing this opportunity is to convince tourists to spend time at the gambling tables aside from the resorts. Pagcor, the state-owned corporation assigned to manage the gaming industry, is in a good position to take up this challenge.

Once the country begins to offer a better-quality gaming and entertainment experience to foreigners, the deeper it can penetrate the market, he said.

When it’s fully operational – the earliest by 2010 – the integrated resort facility by the bay is seen to increase the country’s gaming revenues by at least 30 percent. It is also expected to boost foreign tourist arrivals by up to three million annually and generate over 250,000 fresh jobs.

Pagcor chairman Efraim Genuino said Pagcor is poised to increase its revenues this year by at least 11 percent to P30 billion from P27 billion last year with the start of the Manila Bay Integrated City’s operation.

It’s income that is hard to ignore so Pagcor is now looking for another site, perhaps outside Metro Manila, to replicate the $10-billion Bagong Nayong Pilipino-Manila Bay Integrated City.

“We are already discussing the second phase and we have identified possible areas,” Genuino said. Cebu is said to be one of the prime candidates.

He said, as much as Pagcor wants to entertain more proposals from prospective investors for the Manila Bay Integrated City, the 90 hectares of the reclaimed area for this gaming-cum-entertainment resort, has already been cornered by the initial four project proponents.

Speaking at the sidelines of the 2008 Asia’s Gaming and Entertainment plus Leisure Expo (Asia’s Gem) at the Hyatt Hotel and Casino Manila, Genuino said new proposals might go into the second phase of the project.

Pagcor announced that the project proposals it accepted for Manila Bay Integrated City were from Japan’s Aruze Corp., Malaysia’s Genting Berhad, Australia’s Bloombery Investments Ltd. and the Philippines’ SM Investments Corp. Each is sinking in from $2 to $3 billion in investments.

The Manila Eye

Azure Corp., a major stockholder of Wynn Resorts and a renowned manufacturer of gaming machines, proposed the development of the Okada Resort Manila Bay.

It will be an integrated casino resort with 2,000 standard rooms and 300 VIP suites. Its main features would be an oceanarium targeted to be the world’s largest, theaters and a giant ferris wheel similar to the London Eye and will be called the Manila Eye.

Genting Berhard, with its partners Star Cruises and Alliance Global Group Inc., is planning to build several hotels with at least 2,000 rooms and a world-class theme park. The company owns and operates the Genting Highlands Resort in Malaysia.

Bloombery Investments Ltd., on the other hand, is planning to build three luxury hotels with a total capacity of 1,500 rooms, celebrity-themed dining, high-end retail shops and a major entertainment and sports center.

Even the camp of Henry Sy is joining the bandwagon. SM Investments Corp. revealed that it is putting up a gaming facility in partnership with Asia-Pacific Gaming of Australia and a major luxury hotel to be managed by Radisson Hotels & Resorts at the Mall of Asia Complex side of the Manila Bay Integrated City.