Largely untapped opportunities

Melco Crown Philippines Resorts Corp, operator of the City of Dreams Manila casino in Manila Bay, says the government should do more to attract Chinese visitors to the country, local media reports. Speaking to reporters following the company’s annual meeting on Monday, City of Dreams Manila property president Geoff Andres said easing visa requirements for Chinese tourists would be a key step, noting the Chinese market remained largely untapped. “We’re just starting but I think there’re a lot of opportunities for the Mainland Chinese market,” said Andres. “If we do that, I think that’s going to raise all, not only for the gaming market but also for the tourism industry overall.” He added that other countries have made it easier for Chinese tourists to visit, citing the easing of travel requirements for Australia, the United States, Singapore, Malaysia, Vietnam and Thailand, among others. The Philippines allows nationals from several countries and regions – including holders of passports issued respectively by Hong Kong and Macau, two Special Administrative Regions of China – to enter the Philippines without a visa for short-term, business or tourism-related stays. People’s Republic of China passport holders are required to apply for a visa to enter the Philippines, although there are exemptions. China market The Philippines is hoping to attract Chinese gamblers as the ongoing corruption crackdown on Chinese territory is scaring many of them away from Macau. The Philippines’ new president, Rodrigo Duterte, is reported to want to improve diplomatic and political relations with China, following a number of territorial and other disputes during the administration of his predecessor Benigno Aquino. Mr. Duterte will be sworn into office on June 30. “You lose that spontaneous impulse by people just wanting to come and visit. If we can make it easier for people to visit… they (can) have an amazing time and go back and tell great stories,” Mr. Andres said. “We’re seeing a lot of return visits also. We are just getting started,” he said. According to data from the National Tourism Department, China was the fourth biggest visitor market for the Philippines last year, registering 490,841 visitors, comprising 9.16 per cent of total inbound traffic. City of Dreams Manila is a unit of Asian casino investor Melco Crown Entertainment Ltd., chaired by Lawrence Ho Yau Lung. It’s the result of a venture between Melco Crown and taipan Henry Sy’s Belle Corp. The gaming complex was the second to open its doors in 2014 within the massive Entertainment City complex. The first was Solaire Resort and Casino of billionaire Enrique Razon Jr. According to Melco Crown Philippines, casino revenues in the first quarter of 2016 increased 108 per cent to P4.05 billion from P1.95 billion in 2015. ‘The increase in total net operating revenues was primarily due to the ramp up of resort operations since the opening in December 2014,’ according to a filing earlier this year.