IGT Wins Manila Tender
International Game Technology (IGT), a prominent player in the global gaming technology sector, has recently secured a significant contract worth $5.3 million to supply and service gaming equipment for a new hotel casino in Manila, the bustling capital of the Philippines. This exciting development comes as part of a collaboration with LET Group Holdings Ltd, a Macau-based company that has ambitious plans for the region’s gaming landscape.
The Project Overview
The deal, confirmed by LET Group, is backdated to last Friday and pertains to one of its sub-brands, Suntrust Resort Holdings Inc. IGT’s successful bid will see the Rhode Island-based firm equip Suntrust’s Westside City Phase 1 hotel casino with its advanced gaming products. The project is currently under development and is slated for a grand opening in 2025, promising to be a key player in Manila’s vibrant Entertainment City zone.
Suntrust will serve as the exclusive operator and manager of the Westside City hotel casino, which is positioned to become a cornerstone of the commercial gaming resort area. This strategic location is expected to attract both local and international visitors, enhancing Manila’s reputation as a premier gaming destination.
IGT’s Winning Bid
According to reports from GGRAsia, IGT’s successful bid was attributed to a combination of factors that set it apart from its competitors. LET Group highlighted IGT’s “vast experience” in the gaming industry, the “greatest functionality” of its products, and the fact that its tender was the “second lowest” among four bidders. This competitive edge, coupled with IGT’s proven track record of successful project implementations in regions such as Macau, Australia, Vietnam, and the Philippines, made it a compelling choice for LET.
The partnership is expected to ensure that IGT’s equipment, software, and services will fully comply with all government and regulatory requirements in the Philippines, a crucial aspect for any gaming operation.
Comprehensive Supply of Equipment and Services
Under the terms of the agreement, a Singapore-registered sub-brand of IGT will provide Suntrust with a comprehensive suite of “equipment, software, and services.” This includes a sophisticated casino management system, user licenses for mobile casino management software, and specialty software tailored to enhance the gaming experience.
Additionally, IGT will supply table management software, licenses for cashless gaming, and tournament system software, along with connection licenses for floor systems. The collaboration will also encompass consulting services, project management, installation, training, and go-live support, ensuring that the Westside City hotel casino is equipped with state-of-the-art technology and operational efficiency from day one.
LET Group’s Challenges in Russia
While LET Group is making strides in the Philippines, it is simultaneously grappling with significant challenges in its Russian operations. The company has reported ongoing difficulties at its Tigre de Cristal Resort & Casino in Vladivostok, which is facing uncertainties due to the escalating Russia-Ukraine conflict and the sanctions imposed on Russia.
In a recent statement, LET acknowledged that these geopolitical tensions have created a challenging environment for its operations in Russia. Furthermore, the company has initiated legal proceedings to seek a share repurchase order to protect the interests of its independent minority shareholders. This lawsuit, filed in Hong Kong’s Court of First Instance, stems from alleged misconduct by Andrew Lo, the controlling shareholder, as well as the CEO and Chairman of LET and Summit Ascent Holdings Ltd.
The Future of Gaming in Manila
The partnership between IGT and LET Group marks a significant milestone in the evolution of Manila’s gaming industry. As the city continues to develop its Entertainment City zone, the introduction of advanced gaming technology and a new hotel casino is expected to enhance the overall gaming experience for visitors. With IGT’s expertise and LET’s ambitious vision, the Westside City hotel casino is poised to become a noteworthy addition to Manila’s vibrant gaming scene, attracting both local enthusiasts and international tourists alike.