Asia's land casino market is "strategically critical" for Light & Wonder Inc., and casino equipment and digital game content providers plan to expand their presence in the region. That's according to Matt Wilson, the company's chief executive, in an interview with GGRAsia.
"We are in the process of expanding our facilities in the Philippines," he said. "We plan to put flags in the Philippines because it is a very important market for us in the future."
He added, "Macao will still be our home [in Asia]. We've been here for decades now, and we plan to be here forever. It's a very important market for us."
Wilson was speaking Thursday in Gracia, Macau. He was in the city to meet casino customers from 2007 to 2012, when he worked for Arcollet Leisure Ltd., a rival slot machine manufacturer, and then met investors in Hong Kong. His last visit to Macau was in 2016.
Asia is "the last market fully recovered" from the negative impact the COVID-19 pandemic has had on the gaming sector, Wilson said. "The Philippines has been a major driver of growth, but actually the broader Asian gaming industry is something that really matters to us."
The executive said Lite & Wonder is currently the supplier with the highest ship share in the Asian market. "We're focused on making sure it lasts over time," he added, without disclosing details on the share of Asian businesses in Lite & Wonder's overall performance.
"The Philippines is a really fast-growing business," he said. The Philippines is on an "expanding growth agenda," with the number of casino resorts increasing, and Light & Wonder is "well positioned to reap the benefits," Mr. Wilson noted.
He added: "Singapore and the surrounding markets also recovered well. Macau was probably the last part of the Asian gaming market overall back online [after COVID-19], but we're happy to see total gaming revenue [recovering] to 2019 levels."
The executive discussed the cap on Macau's slot machines introduced earlier this year. The maximum number of slot machines on the market over the next decade will be set at 12,000.
"With the slot cap, [casino operators] can focus on investing in something that will almost guarantee success," he said. "This means building on a successful franchise - things that players know, believe, and love. So the slot cap tells us how we feel about investing behind our product portfolio."
Looking ahead, Wilson said some of the slot products Lite & Wonder will promote in Asia in 2024 include the "Jinjinbaojai Grand," a new version of the "Jinjinbaojai" series to be released across Asia later this year, and the recently released "Duo Duo Chai Grand."
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