IGT Wins Tender for Manila’s New Hotel Casino
International Game Technology (IGT), a leading provider of gaming technology and solutions, has recently secured a significant contract worth $5.3 million. This contract will see IGT supplying and servicing gaming equipment for a prestigious new hotel casino being developed in Manila, the bustling capital of the Philippines. This development marks a notable milestone in IGT’s expansion efforts in the Asian gaming market.
Details of the Contract
The awarded tender is part of an ambitious project led by LET Group Holdings Ltd, a company based in Macau that has been rapidly making its mark in the gaming industry. IGT’s deal is specifically with Suntrust Resort Holdings Inc., a sub-brand of LET, and was confirmed in an official announcement backdated to the previous Friday. The agreement encompasses various aspects of gaming technology, confirming IGT’s position as a trusted partner in the gaming sector.
Suntrust’s hotel casino, known as Westside City Phase 1, is expected to open its doors in 2025. This location will be a significant component of Manila’s Entertainment City zone, a vibrant area known for its luxurious gaming resorts and entertainment options. IGT’s integration of its products and systems into this casino promises to enhance the overall gaming experience for visitors.
IGT’s Competitive Edge
According to industry reports, IGT’s success in this competitive bidding process was attributed to several key strengths. LET Group highlighted IGT’s extensive experience in the gaming field, as well as the superior functionality of its gaming products. IGT came in as the second-lowest bidder among four competing firms, illustrating a solid combination of quality and value for money.
Furthermore, LET noted that IGT’s proven track record in implementing multiple gaming projects across Asia—including Macau, Australia, Vietnam, and the Philippines—played a crucial role in their decision. This is particularly crucial, as compliance with local government and regulatory requirements is paramount in the gaming industry.
Comprehensive Gaming Solutions
Under the terms of the agreement, IGT will provide a comprehensive suite of products and services to Suntrust. This includes a sophisticated casino management system, mobile casino management software, and various specialty software solutions designed to streamline operations. Additionally, IGT will supply table management software, licenses for cashless gaming systems, and tournament management solutions.
The collaboration doesn’t stop at merely supplying hardware; IGT will also extend its expertise through consulting services, project management, installation support, training, and ongoing assistance during the go-live phase of the project.
LET Group’s Broader Context
While the deal with IGT highlights positive developments for LET Group in Manila, the company is concurrently facing challenges in its Russian operations. LET’s sub-brand, Summit Ascent Holdings Ltd., which manages the Tigre de Cristal Resort & Casino in Vladivostok, has been grappling with difficulties stemming from the ongoing Russia-Ukraine conflict and the international sanctions imposed on Russia. These geopolitical issues have raised significant uncertainties for the business, drawing attention away from their projects in Southeast Asia.
Recently, LET Group disclosed that legal proceedings have been initiated in Hong Kong against its controlling shareholder, Andrew Lo, due to allegations of misconduct. This legal challenge adds another layer of complexity to LET’s operations, underlining the turbulent landscape they navigate.
Conclusion
The $5.3 million tender won by IGT in Manila is not merely a contract but a significant step forward in the ongoing evolution of the gaming landscape in Asia. As IGT equips Suntrust Resort Holdings with cutting-edge technology and expertise, it reinforces its status as a leader in the global gaming industry. However, the challenges facing LET Group in other markets serve as a reminder of the dynamic and often unpredictable nature of the gaming business. As the industry adapts and expands, IGT’s role will be pivotal in crafting experiences that attract and retain players in an increasingly competitive environment.
