With Covid-19 now in rearview, 2023 has witnessed Southeast Asia surging ahead in casino business, challenging the well-established heavyweight, Macau. According to the iGB reports, Southeast Asia is expected to steer Asian gaming growth in the future. The region has all the aces in its kitty, boasting a combination of burgeoning economies, world class gaming resorts and attractive tourist destinations.
Post Covid-19, economic growth has been a key driver for this massive surge and Southeast Asia is set to overtake Japan within a decade. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Philippines, Thailand, and Vietnam falling under the Association of Southeast Asian Nations (ASEAN) bloc are the contributors to this growth. With a population of over 660 million, they currently boast a collective GDP exceeding US$3.3tn (£2.7tn/€3.1tn), which is the fifth largest in the world behind India and 50% higher than Canada and Brazil. Last year, the bloc’s economies registered a growth of 5.2% and are expected to expand 4.7% this year and 5% in 2024, thus indicating promising trends ahead.
Philippines Tops The Charts For Asia Casino Business
In the ASEAN bloc, the Philippines is the key contributor to the Asian casino business and continues to top the charts with developments like Bloomberry’s Solaire North in Quezon City, which will be followed by a resort to the south in Cavite. Last year, NuStar in Cebu City opened lodging and gaming with two more hotels and luxury retail and MICE facilities on the horizon. Clark, which serves as a weekend getaway destination, boasts six new or upgraded casinos. Hann Resorts and rival D’Heights are expanding rapidly with integrated resorts, high-end hotels, luxury residences and other amenities.
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Source: iGB
