Second Casino Opens In Manila's 'Entertainment City'Melco Crown Opens 'City Of Dreams Manila' |
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With Macau’s casino industry in steep decline, some experts reportedly think the Philippines capital city of Manila could be the next top gambling hub in the world.
A second casino just opened in Manila’s “Entertainment City” complex, The Wall Street Journal reported this week. Two more massive casino-resorts are in the pipeline.
The one that opened this monh is from Melco Crown Entertainment Ltd. and it’s called “City of Dreams Manila”. It’s reportedly seeking to attract high rollers from China that might be wary of gambling in Macau these days due to increased scrutiny of junket operators.
From the WSJ:
Some analysts say Manila casinos are well-placed to benefit from Macau’s troubles, arguing that Chinese VIPs scared to set foot in the Chinese territory will instead flock to casinos out of Beijing’s reach…much lower taxes on VIP gambling revenue in the Philippines—around 15% versus around 40% in Macau—make it attractive for Macau gambling-junket operators to reroute their customers to Manila, some analysts say.
The Chinese government has been cracking down on what it sees as corruption in Macau. Additionally, the Macau economy is almost totally reliant on the casino industry, and some officials want that to change because they feel a diversified economy is more sustainable.
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