Alliance Global Group Inc. (AGI) is optimistic that its gaming and tourism businesses will much stronger this year specially with the expected reopening of China which will release a huge wave of revenge spending.

In an interview, AGI Vice Chairman and CEO Kevin Tan said they are currently taking advantage of the growing momentum of consumer spending in the gaming and tourism sector.

AGI operates a casino and hotels through Travellers International Hotel Group Inc. as well as more hotels and resorts through Megaworld Corporation and Global Resorts Estates Inc. These make AGI the biggest hotel operator in the country.

“I think we’re now already more than 100 percent of our GGR (gross gaming revenues) pre-pandemic and I think next year, it’s going to be very strong. We will be looking forward to what we call the second wave of the pent-up demand which is from the Chinese,” said Tan.

He noted that, “China is now starting to open up. Hong Kong is always the starting point. That gives you a signal of where China is going. And, I think, when that happens, the Philippines with its very prime location, we can expect we’re really in the right place to accept that second wave of better revenge spending and travel from the Chinese tourists.”

For other nationalities, Tan said “we've been very strong already with South Korea, Taiwan, Southeast Asia, we're getting that. But China is the market that everyone is after if you talk about hospitality and gaming.”

He explained that, “(China) is always the largest source market for quite a number of ASEAN countries... China has a very strong market and, next year, we will be able to see that.”