The recent launch of the Subic Bay Yacht Club’s new boutique casino has appeared to help increase the already surging Philippine gambling industry. The club, located along the Philippines coastline in the Subic Bay Freeport Zone, had a soft opening date for quite some time, but that date was finally achieved with the launch of the new facility on November 11.
The casino is the showpiece of the newly renovated club. This renovation came at a cost of PHP500 million ($10 million) and was built with the full intention of targeting Asia’s growing boating and yachting enthusiasts.
In a statement, Manuel Antonio Sequeria stated, “Subic is a safe haven in the boating world, and we have mega-yachts coming in on a weekly and monthly basis to use Subic Bay as their base.” Sequeria is the CEO and President of Volare Grandezza, one of the firms that partners with Subic Bay in the casino operations.
The club was designed to specifically entice yachtsmen and boat enthusiasts from across the region. Sequeria explained that “We have everything from Russian mega-yachts measuring 200 meters and above to mega-ships coming in from China – the smallest being 3,800 people and the biggest 5,200 guests, which is a huge market.”
The purpose of the club was to actually act as a lure for people to the casino. He explained that the development of the boutique casino was specifically designed with the idea of building a club that would cater to this community. This makes this only the second yacht club in the world to also have a casino as part of its development, joining Hobart Australia.
The boutique casino is an impressive structure. It opened on Monday with eight tables and 169 slot machines when doors opened. However, it is expected that the number of gaming tables will increase to 43 by December 1. Gaming tables will include such standards as blackjack, roulette, baccarat, paigow, and pontoon.
The in-house junket operations are expected to begin operations in January of next year. There are plans to increase the facilities in the region, appealing to international junket operators from across the Asian theater.
Besides gambling, there are a number of features that should draw boatsmen to the area. This includes sensational fishing, a 2000 meter beach, and extremely clean and unpolluted waters. “The growing market in Asia of people boating, yachting, will bring people here,” Sequeira explained to Inside Asian Gaming.
Because the facility is located in the Clark Freeport Zone, it reaps all of the benefits in terms of taxation. This region is specifically designed to encourage businesses to come to the area and set up shop because of the no tax policy. The Subic Bay Yacht Club looks like it will thrive because of the opportunity to earn revenue without the concern of taxation.
