The operator of 11-hectare Hann Casino Resort in the Clark Freeport Zone in Pampanga is tapping new opportunities to grow its digital platform, Hann Live Online, which features over 100 number generator games as of March this year.
It detailed strategies in its initial public offering (IPO) prospectus to grow its business and earnings, including a strong push into online gaming.
“As part of our expansion initiatives into the online gaming space, we intend to partner with a global entertainment and gaming company to roll out our online gaming initiatives,” Hann said, without naming the partner.
Founded by South Korean businessman Dae Sik Han, the group also holds a Philippine inland gaming operations (PIGO) license, which was obtained from the state-run Philippine Amusement and Gaming Corp. on March 25, 2024.
“We intend to increase our market penetration by capturing the upward trend in the online gaming market in the Philippines,” it said.
Remote casinos for real-time gaming
By the end of 2025, it aims to grow its games from 103 number generator games to about 500 games. It also plans to integrate remote gaming into the Hann Live Online platform.
"Our remote gaming feature will allow users to engage in real-time gaming with our dealers, mirroring the experience of being physically present in the casino,” the prospectus showed.
The remote gaming floor will consist of 10 gaming tables and 97 slot machines which will be available to use online on our web-based platform.
Dual digital & physical build out
This is part of Hann’s dual strategy to grow via digital and physical presence, which is poised for significant expansion.
Based on the prospectus, Hann detailed nearly P57 billion in capital and operating costs in the coming years to increase its gaming, hotels and commercial spaces while developing plans for the 455-hectare Hann Reserve.
The leisure and golf estate will be the largest master-planned development in Clark upon its completion, the prospectus showed.
Breaking things down
The existing Hann Casino Resort, located minutes from the Clark International Airport, has 864 hotel rooms and 1,162 slot machines, 112 mass market gaming tables, 118 VIP tables, 72 electronic table games and two VIP clubs.
It said in the prospectus that P8.9 billion is being deployed to add 584 slot machines, 62 table games, four restaurants, retail shops and 334 parking slots by the first quarter of 2026.
Hann eyes P30 billion for gaming, branded residences
Hann also plans to spend P30 billion for its branded residences and casino (BRC) expansion, which is located on the property whose lease expires by 2056.
This involves the construction of a new gaming space with 7,537 square meters with 1,254 slot machines, 80 table games, spaces for meetings and events, and 1,363 rooms across two residential towers.
The first phase of the BRC project will open in the third quarter of 2028 with full completion seen by the second quarter of 2029.
In addition, Hann is spending P17.7 billion for Hann Reserve, which will feature luxury resorts, premier golf courses and other leisure facilities.
This is intended to “draw domestic and international travelers to boost tourism in the Philippines with a particular focus on Central Luzon”.
Hann is growing fast, but has a significant debt load
In 2024, Hann Holdings posted revenue of ₱12.57 billion, up 7.5 percent from the previous year, while net income fell over 32 percent to ₱1.71 billion on higher costs and a 320 percent jump in interest expenses to P890.1 million.
For the first quarter of 2025, revenue reached ₱3.42 billion, up 11.8 percent, while net income jumped 35 percent to P842.3 million.
Its debt-to-equity ratio eased from 2.2 at the end of 2024 to 2.0 in the first quarter of 2025.
Proceeds from the IPO are intended to support balance sheet management as Hann rapidly scales up its business.
Gaming demand holds strong
In a Hann-commissioned study prepared by The Innovation Group, Hann has a market share of Clark land based casinos of 48.2 percent as of the first quarter of 2025.
This is projected to “increase significantly” across all segments as expansion projects kick in starting 2026.
With the absence of high-roller players weighing on the performance of Manila-based integrated casinos, The Innovation Group noted that Hann can still achieve growth while keeping costs in check.
“[B]ased on conversations with the client, it is our understanding that less emphasis is placed on VIP gaming given the high costs associated with this gaming segment,” the prospectus showed.
Gambling and golf?
Hann Reserve’s plans to build world-class golf courses could also drive more tourists and gamblers to Clark, the prospectus showed.
“We are confident that the addition of golf courses will not only diversify our revenue base but also contribute to an increase in gross gaming revenue from an increase in premium mass market customers and induced tourist visits,” Hann said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
