DAVAO City has an untapped market for casino and offshore gaming industry, according to a survey conducted by Prime Philippines.
During the Habi at Kape press conference held Wednesday, May 2, at Abreeza Ayala Malls, Prime Philippines capital markets and investment associate Raphil D. Saguan said the introduction of more international direct flights to and from Davao increases the potential of the city to become a destination for casinos and offshore gaming establishments.
Currently, there are only two known casinos in the city – Casino Filipino in Apo View Hotel and the one in Grand Regal Hotel.
Saguan said with the good spending capacity of the Dabawenyos and the tourists that come to the city, the casino industry may be able to flourish in the city.
He added they acknowledge the challenges and that venturing into this business may not be that easy for Davao City given its conservative nature and lack of proper knowledge and familiarity of Dabawenyos in general of casinos.
However, Saguan said they were optimistic of the current trend that’s happening in Luzon when it comes to casinos. Davao City, being the next potential central business district may soon follow suit with this trend.
Currently, Prime Philippines is on a non-disclosure agreement with five different international hotels that are very keen on expanding to Davao City. These hotel companies are from America, Sweden, and other countries in Europe. The decision however of these hotel companies to whether or not establish a casino and gaming facilities in their hotels will depend on the landowner or the partner-investors.
With more than 10,000 rooms in Davao City in more than 300 accommodation facilities, Saguan said they recognized that the city is still in need of more accommodation-related investors caused by the increasing number of tourist arrivals and events.