Suncity Group to launch Okada Manila business in Q4

In the first quarter this year, Okada Manila had its firts junket partner which, according to Morgan Stanley analysts Alex Poon and Praveen Choudhary, “helped the ramp” of the property. “More are to join in the fourth quarter 2017, including Suncity,” they said.

Meanwhile, GGRAsia separately reported that Suncity was shortly to have a junket at Okada Manila, although it was not officially confirmed by the company.

“Hotel rooms remain a constraint with only approximately 120 operational and 90 percent of them are comped (versus 50 percent for City of Dreams Manila and Solaire), but more rooms will progressively open and [the tally will] reach 493 in the first quarter 2018,” Morgan Stanley said referring to rooms offered either free or at a discount either to junkets or to high value players; and to rival properties City of Dreams Manila, operated by a local unit of Melco Resorts and Entertainment Ltd; and Solaire Resort and Casino, developed and operated by Bloomberry Resorts Corp.

According to the report, Chinese gamblers are fueling growth in Manila's new generation of casino resorts, also benefiting from a growing contribution by local players.

“Chinese visitor arrivals grew by 33 percent year-on-year in first half 2017. On August 17, the Philippines government granted visas on arrival to Chinese visitors and we think this will eventually extend to all Chinese visitors,” the Morgan Stanley analysts said.