We like to keep a close eye on what is going on in Asia- well, because there is alot going on, and also we like going there on holiday!
There’s a new casino complex that is due to open in Manila Bay. The Philippines have been aiming to follow Macau and Singapore into the casino leisure market, and from March 16, they are in the game. A 500-room casino hotel near Manila Bay owned by port tycoon Enrique Razon is due to open next month.
The $1.2-billion Solaire Manila has taken on 400 Filipinos with casino and hotel experience worldwide to serve its high roller gaming customers. The casino hotel is in Entertainment City, a 100-hectare site reclaimed from Manila Bay and owned by the Philippine Amusement and Gaming Corp. (Pagcor). The long term aim is to compete with Las Vegas, Singapore and Macau as gaming hub.
Bloomberry is the first to complete its casino project. Following in their footsteps will be Andrew Tan’s Alliance Global, Japanese tycoon Kazuo Okada and taipan Henry Sy’s Belle Corp.
Australian billionaire James Packer, the late Kerry Packer’s son and Macau gaming taipan Lawrence Ho are shareholders in the project. The investors are required to invest at least $1 billion each.
Solaire is panning to have 300 additional rooms in 2 years time during the next phase of developement. Let’s hope the area doesn’t look like a building site!
Pagcor chairman Cristino Naguiat is forecasting at least $10 billion in revenues by 2017 in his business plan from the businesses of the four gaming giants in Entertainment City. There’s also quite a bit of infrastructure going on- P6.5 billion is being spent to contruct and elevated road from the Ninoy Aquino International Airport to Entertainment City to get the punters in.
Well, we for one will be planning a trip. A beach/diving/gaming combo seems like a good plan! Say Manila, Cebu, Palawan. That should do the trick.
