{"id":50806,"date":"2017-05-22T15:00:39","date_gmt":"2017-05-22T22:00:39","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=50806"},"modified":"2017-05-22T16:52:57","modified_gmt":"2017-05-22T23:52:57","slug":"dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/","title":{"rendered":"Duterte\u2019s Pro China Policy Helps Make Melco Crown Philippines the Hottest Stock in the World"},"content":{"rendered":"

Business is booming at Melco\u00a0Crown\u2019s City of Dreams Manila, thanks to a renewed influx of Chinese tourism.<\/p>\n

\"
Philippine President Rodrigo Duterte meets Chinese President Xi Jinping on a diplomatic visit to China in October 2016, as the two countries sought to ease tensions over disputed territories in the South China Sea. (Image: China.org.cn)<\/figcaption><\/figure>\n

In fact, as Bloomberg pointed out late last week, its operator, Melco Crown Philippines, has been the best-performing casino stock on the market this year, worldwide. Shares in the company have risen 125 percent in 2017, not bad for a property that has only just started turning a profit.<\/p>\n

Australian Casino mogul James Packer<\/a>, who last week completed the sale of his remaining stake in Melco Crown, the joint venture he formed with Lawrence Ho in 2004, may now be regretting\u00a0his decision to cut his investment exposure to Macau and the Philippines.<\/p>\n

The resort\u2019s gross gaming revenue increased 20 percent in the three quarters of 2016, in comparison with the corresponding period of the previous year, according to the latest available data from the Philippine operator-regulator PAGCOR.<\/p>\n

Duterte\u2019s China Romance<\/b><\/h2>\n

At the heart of the resurgence of Chinese visitors is the Philippine president Rodrigo Duterte\u2019s determination to form closer ties with China, while, at the same time, a corruption crackdown initiated in Beijing has dented visitation to Macau<\/a>.<\/p>\n

The two countries had previously been at loggerheads over disputed territories in the South China Sea.<\/p>\n

While Duterte\u2019s brutal war on drugs has made headlines around the world, and his anti-American rhetoric has raised eyebrows in Washington, the controversial president\u2019s cozying up to China, the region\u2019s economic heavyweight, appears to be paying off.<\/p>\n

Chinese tourism was up 25 percent in the first two months of 2017 and Chinese visitors now account for roughly 14 percent of all visits to the country.\u00a0 \u00a0 \u00a0<\/span><\/p>\n

That percentage is likely to grow, too, with the relaxing of visa requirements between the two countries in a deal agreed to last year.<\/p>\n

Phone Betting Boon<\/b><\/h2>\n

The Philippines is also benefiting from the ban on phone betting in Macau and Singapore. This means that players are able to place bets at City of Dreams Manila on their smartphones and then watch the outcome of the game on a live video stream.<\/p>\n

Kazuo Okada, Chairman of Universal Entertainment Corp, said recently he believes the Philippine casino sector is poised to overtake Singapore\u2019s.\u00a0 \u00a0<\/span><\/p>\n

\n

\u201cForeign players have multiplied and they\u2019re mostly Chinese,\u201d said \u201cFernando,\u201d a Filipino gambler who spoke to Bloomberg last week. \u201cThere are times that you need to wait to get a seat at the tables and when there\u2019s a thick crowd it\u2019s not rare that you\u2019re playing with a Chinese tourist.\u201d<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Business is booming at Melco\u00a0Crown\u2019s City of Dreams Manila, thanks to a renewed influx of Chinese tourism. In fact, as Bloomberg pointed out late last week, its operator, Melco Crown Philippines, has been the best-performing casino stock on the market this year, worldwide. Shares in the company have risen 125 percent in 2017, not bad […]<\/p>\n","protected":false},"author":42,"featured_media":50807,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,61],"tags":[],"acf":[],"yoast_head":"\nDuterte\u2019s Pro China Policy Helps Makes Melco Crown Philippines the Hottest Stock in the World<\/title>\n<meta name=\"description\" content=\"Chinese tourism at Melco\u00a0Crown City of Dreams Manila has sent stock in Melco Crown Philippines sky high in recent weeks of trading.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Duterte\u2019s Pro China Policy Helps Makes Melco Crown Philippines the Hottest Stock in the World\" \/>\n<meta property=\"og:description\" content=\"Chinese tourism at Melco\u00a0Crown City of Dreams Manila has sent stock in Melco Crown Philippines sky high in recent weeks of trading.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-22T22:00:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-05-22T23:52:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/d02788e9b6de1973cb920a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"452\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/\",\"url\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/\",\"name\":\"Duterte\u2019s Pro China Policy Helps Makes Melco Crown Philippines the Hottest Stock in the World\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/d02788e9b6de1973cb920a.jpg\",\"datePublished\":\"2017-05-22T22:00:39+00:00\",\"dateModified\":\"2017-05-22T23:52:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Chinese tourism at Melco\u00a0Crown City of Dreams Manila has sent stock in Melco Crown Philippines sky high in recent weeks of trading.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/dutertes-pro-china-policy-helps-makes-melco-crown-philippines-hottest-stock-world\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/d02788e9b6de1973cb920a.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/d02788e9b6de1973cb920a.jpg\",\"width\":600,\"height\":452,\"caption\":\"Philippine President Rodrigo Duterte meets Chinese President Xi Jinping on a diplomatic visit to China in October 2016, as the two countries sought to ease tensions over disputed territories in the South China Sea. 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