Philippines unlikely to eclipse Macau rivals

    Published in: Latest Intelligence   While Solaire Resort, Manila’s newest and most luxurious casino, may have a long way to go before it will steal a march on Macau, analysts say the Philippines’ entry into the VIP market may attract Chinese gamblers keen for more privacy. “It is quite a good product and especially if VIPs want to have a lower level of scrutiny, it will gradually become a good place to go,” predicts Jeremy Tan from Kim Eng Securities in Hong Kong. The $1.2-billion Solaire Resort & Casino is the first of four casinos to open its doors on prime reclaimed land in Manila Bay in a new gaming and entertainment complex called Entertainment City.   Owned by container port services billionaire Enrique Razon’s Bloombery Resorts Corp., Solaire will have a monopoly until Henry Sy, the Philippines richest man, opens a rival casino at the site in 2014. Global Gaming Asset Management, formed...

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