Casinos get boost from improved PH-China ties: Solaire owner


Posted at Mar 23 2017 11:30 AM

MANILA - Improved relations between the Philippines and China have resulted in “tremendous” growth in Chinese tourist arrivals, the owner of one of the country’s billion-dollar casinos said Thursday.

The gaming industry is also “stabilizing” as the government asserts itself as a regulator, said Enrique Razon, chairman of Solaire operator Bloomberry Resorts Corp.

“The market is growing with our new relationship with China. We have been seeing tremendous growth in visitations from mainland China,” Razon told ANC.

“For the local gaming industry, I have a positive outlook,” he said.
China lifted a travel warning on the Philippines following President Rodrigo Duterte’s trip to Beijing in October last year. Duterte met with Chinese President Xi Jinping to reset ties that were strained by disputes in the South China Sea.

A growing wave of protectionism around the world may hurt world trade, said Razon, who also chairs port operator International Container Terminal Services Inc.

The company recently opened four new ports in Congo, Iraq, Melbourne in Australia and Buenaventura in Colombia.

US President Donald Trump’s push for “fair trade” could “slow down or dampen” world commerce, Razon said.

“It’s gonna be a different world and if all of these pushes through it will slow,” he said.