Casino Filipino : un prix trop élevé selon Morgan Stanley

Content Team April 10, 2023

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Casino Filipino : un prix trop élevé selon Morgan Stanley

Bien que les casinos contr?lés par l’état aux Philippines aient été mis en vente, les analystes de la banque d’investissement Morgan Stanley estiment que le prix demandé pour Casino Filipino est trop élevé pour attirer les bons acheteurs.

Le gouvernement cherche à obtenir 1,5 milliard de dollars pour la vente des casinos terrestres appartenant à l’état.

Casino Filipino

Les Philippines possèdent et exploitent 41 casinos et salles de jeux satellites enregistrés sous la marque Casino Filipino. Ils sont gérés par PAGCOR, un organisme public de régulation et d’exploitation des jeux de hasard.

Casino Filipino possède deux succursales principales, à Malate et Santa Cruz (dans la région centrale de Manille). Il y a également d’importantes succursales à Angeles City, Bacolod, Cebu City, Davao City, San Nicolas, Iloilo City, Olongapo et Tagaytay. Le casino terrestre de l’aéroport de Manille a été fermé en 2014.

Activités de jeux

Ces dernières années, le gouvernement philippin a envisagé de céder ses activités de jeux afin de permettre à PAGCOR d’améliorer son efficacité en tant que régulateur. La vente permettrait également à l’état de bénéficier d’une injection immédiate et substantielle de liquidités.

Les analystes de Morgan Stanley spécialisés dans les jeux, Praveen Choudhary, Dan Chee, Jeffrey Mak et Gareth Leung, ont conclu leur rapport en s’accordant à dire que le prix demandé est beaucoup trop élevé. Le gouvernement philippin a ajouté que l’opportunité d’acheter la cha?ne de casinos pourrait devenir plus intéressante pour les acheteurs une fois que le revenu brut des jeux sera rendu public cette année. Les projections estiment que le revenu brut des jeux atteindra 244,8 milliards de PHP (4,5 milliards de dollars américains), soit 1,2 milliard de dollars de plus que le revenu brut des jeux pour 2022. La croissance des recettes est principalement due à la réouverture des sites terrestres. En 2019, avant le début de la pandémie, les recettes brutes s’élevaient à 680 millions de dollars.

Bloomberry, un opérateur de jeux basé aux Philippines disposant des moyens financiers nécessaires pour acquérir les casinos d’état, était auparavant considéré comme le favori. Cependant, l’opérateur n’a pas encore agi ni montré beaucoup d’intérêt. Il semble développer son propre projet avec de nouveaux développements aux Philippines, dont Solaire North à Quezon City.

Morgan Stanley aux Philippines

La banque d’investissement multinationale américaine Morgan Stanley a annoncé au début de l’année qu’elle allait ouvrir un bureau à Manille. Le président Ferdinand ‘Bongbong’ Marcos Jr a rencontré Gokul Laroia, président de Morgan Stanley pour l’Asie-Pacifique, lors du Forum économique mondial 2023 qui s’est tenu à Davos, en Suisse. Le secrétaire à la Communication du Bureau, l’avocat Cheloy Garafil, a déclaré que M. Laroia avait proposé à la banque d’investissement d’ouvrir des bureaux aux Philippines lors de sa rencontre avec le président Marcos Jr.

Ce géant de l’investissement, dont le siège est à New York, exerce ses activités dans les domaines des titres institutionnels et de la gestion de patrimoine. Le projet de Morgan Stanley aux Philippines a été accueilli avec enthousiasme par les milieux d’affaires locaux.

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