Building a millionaire’s paradise in Clark: Daesik Han
Daesik Han, Chairman and CEO of Hann Resorts, took a gamble on Clark, and his bet has paid off. With over $600 million invested in Hann Casino Resort and a massive vision for Hann Reserve, Han is forging his own niche, targeting golf VIPs at the ambitious new project and going after premium mass at Hann Casino Resort, all made possible by Clark International Airport. This special fireside chat is moderated by IGamix Managing Partner Ben Lee.
Here are some of the highlights:
01:10 – Hann Resort and Casino is in the top 5 performers in the Philippines by GGR, top casino performer outside Manila Bay.
02:25 – Philippines is the nearest tropical climate from South Korea. Clark international airport opportunity provided a strong draw.
04:26 – Hann Resorts is up by 250 percent compared to 2022, and up 150 percent compared to 2019. Continuing investment during COVID was a bold move.
07:00 – Hann Reserve – Clark is known as a golfer’s destination, golfers are more prone to enjoy gaming, good synergy. Coming up with top golf-oriented IR means capturing the 30-40 percent of VIPs who golf. Attracting golf tournaments will have big marketing exposure for gaming.
12:00 – Don’t want to focus only on Korean or Chinese market, whatever destinations from the airport will contribute main markets. Golf will evolve with the domestic economy, China stands to grow, Philippines stands to grow.
14:30 – Want to have different hotel brands with their own identities under the Hann umbrella. Each brand brings its own identity. Talking to different luxury brands to create further synergy of experience.
17:00 – Any need for more than one casino at Hann Reserve? Prefer to have one main casino property in Hann Reserve. Could be tricky to theme parts of the casino to one market, like China. Hann Casino is focused on being a 5-star facility. Hann Reserve is 5-star to luxury, something like Wynn Macau, focused on premium mass and luxury market.
20:01 – Target to finish the first golf course at the end of 2025, with the clubhouse, Banyan Tree and Angsana in 2026, Nick Faldo golf course in 2027, casino and retail in 2028. Want to keep the project flexible. Want to add one golf course every year. Second phase is the casino and different hotels – Sofitel. Third phase is residences and an international school, golf to work as extracurricular activity, students can get certified by PGA.
23:18 – The local market is one of the most important markets, the Korean market as well. If you provide something different, then clients will find a way to come over.
24:45 – Quezon City project could choke off some of the Metro Manila traffic to Clark. But rebound in Clark after COVID is stronger than Metro Manila. It has a different tourism aspect.
26:40 – New proposed railway from Metro Manila to Clark could be a benefit to business. Project expects by the end of 2025, but more likely to be in 2026.
28:20 – Growth success in the Philippines. Initially had a fear that many investors would be attracted to Clark. Had to continue to push investment, grow, make sure they could compete in case big operators in Metro Manila wanted to come to Clark.
Audience Questions
31:00 – Investment in Hann Reserve is going to be $3-4 billion over eight years or 10 years. So far have spent $600 million.
32:20 – Hann Reserve to target the luxury market, Hann Casino are working on MICE, something more mass-premium mass-oriented.
33:30 – Split between gaming and non-gaming is roughly 85/15. Traction is going to be more towards the Vegas model. Operators have to come up with ways to improve the performance, have to offer something different: F&B, entertainment etc. But it will take some time. Way Asian’s see gaming is different from Westerners.
36:40 – Hann Reserve Video
