Bagong Nayong, expected to open in 2013, is an integrated resort (IR) project initiated by the Philippine Amusement and Gaming Corp (Pagcor), a Philippine government-owned entity engaged in the entertainment and gaming business.
The previous Philippine government under president Gloria Arroyo awarded four casino concessions in 2008 on the Bagong Nayong reclaimed land in Manila Bay. Japanese gaming firm Aruze and a Philippine joint-venture with Genting Hong Kong Ltd won two of the concessions to develop casinos and hotels on the land, while Philippines high-end property developer Belle and Bloombury, headed by Philippine business magnate Enrique Razon, won the other two concessions.
RGB had also received an order in February 2011 from Pagcor for the placement of 1,700 gaming machines, also under the concession model, throughout 11 existing casinos and slot machine areas in the Philippines. To date, RGB has shipped out 108 of these machines and another 500 will be delivered by September 2011.
With a booming gaming industry in the Philippines, RGB is hoping to increase its market share there by 10 percentage points this year from its current 30%, through increasing its outright sales of gaming machines, apart from supplying the machines through the concession business model.
Half of the outright sales of gaming machines expected in 2011, amounting to RM100 million, will be derived from the Philippines. Last year, RM35 million out of a total outright sales of RM70 million was from the Philippines.