...the IAAPA Head

Pinoy to head biggest amusement association

 

By Rio Rose Ribaya

Yahoo! Southeast Asia Newsroom

10 November 2012

Enchanted Kingdom owner Mario Mamon acknowledges promotional tie-up with Ocean Park Hong Kong during the launch of Ocean Park's Christmas Sensation: Santa Festival at Marriott Hotel Manila in Pasay City on …more November 8. (NPPA Images/Angela Galia) 

A Filipino businessman has been selected to head the largest amusement industry trade association in the world.

Enchanted Kingdom (EK) owner Mario Mamon is the first Asian ever chosen to head the US-based International Association of Amusement Parks and Attractions (IAAPA).

"He will be assuming as vice chairman first this week in America, which will last until November next year," EK vice president Cynthia Mamon said.

"His term as chairman will start in November next year and will last until 2014," she added.

Based in Virginia, IAAPA represents over 4,000 member organizations from all kinds of amusement centers including theme parks, museums, even mini-golf courses in 93 countries.

...the aspiring major gaming hub

Philippines can become ‘major’ gaming hub in region

 

Research firm sees revenues hitting $1.2B by 2015

 

By: Doris C. Dumlao
Philippine Daily Inquirer

Wednesday, December 7th, 2011

The Philippines has the potential to become a “major” gaming hub in the Asia-Pacific region and grow its gaming market to about $1.2 billion by 2015 as more privately run casinos start operations, a research by global professional services firm PricewaterhouseCoopers (PwC) said.

In a recent report, PwC estimated that casino gaming revenues in the Philippines fell by 5.9 percent in 2010 but were rebounding this 2011 to hit a full-year growth of 10.8 percent.

The report said the Philippines already had a “vibrant” casino gaming market and projected that new casinos would propel spending at a 16.9-percent compounded annual rate to $1.2 billion in 2015, making this country a major gaming area as well.

The casino gaming market in the Philippines last year was estimated by PwC at $558 million, which is ending this year at $618 million.

“The next five years will see Asia-Pacific emerge as the world’s leading region for casino gaming,” the PwC report said.

For Asia-Pacific as a whole, the report noted that casino gaming revenues would expand from $34.3 billion in 2010 to $79.3 billion in 2015 for an 18.3-percent compounded annual increase.

Macau is seen remaining as the largest casino gaming center in Asia-Pacific, growing at a compounded annual growth rate of 21.5 percent through 2015, outpacing Singapore’s growth rate of 20.5 percent compounded annually.

“The jewel in the crown of Asia-Pacific’s casino gaming industry is Macau, the largest single destination market in the world at $23.4 billion in 2010, more than twice the revenue of Nevada in the U.S.,” the report said.

Australia was a distant second with a $3.4-billion market in 2010, followed by Singapore at $2.8 billion and South Korea at $2.6 billion.

The report said Australia was facing increased competition in luring “high rollers” now that Singapore has become an established market.

In the Philippines, PwC noted that Belle Corp.’s planned complex in Manila Bay was expected to open in 2013, although the project has experienced a number of delays.

The research noted that the state-run Philippine Amusement and Gaming Corp. was the monopoly provider with the exception of the Cagayan Special Economic Zone, which issues its own casino licenses. Casinos in the Cagayan region are only open to foreigners, it added.

The Philippines is building an entertainment complex along Manila Bay, called Entertainment City, but has required casino licensees to invest heavily in hotel facilities prior to opening their casinos.