The BNP Entertainment City (Bagong Nayong Pilipino Entertainment City Manila) was conceived to increase the number of tourists to the Philippines, generate jobs and create economic impact. The Terms of Reference issued by the Philippine Amusement and Gaming Corporation (PAGCOR) states that project applicants must pay a non-refundable US$50,000 fee to bid and submit proposals for a total entertainment complex with a minimum project cost of US$1 billion, consisting of both equity and debt.

The initial phase of the project site is an area of approximately 40 hectares of reclaimed land along Manila Bay in Parañaque City. Other locations in this vicinity as may be approved by PAGCOR will also qualify. For selected applicants who will lease the land owned by PAGCOR, the lease period is for 25 years or until the expiration of the twenty-five year term of PAGCOR as provided in RA 9487. The lease will be renewable by mutual agreement for another 25 years.

According to Rafael Francisco, president of the state-owned PAGCOR, now that all pre-construction requirements, which included getting the endorsement of local government, have been satisfied, building should begin by March next year and continue for around five years. Three companies are already intending to invest in BNP Entertainment City, which will have a minimum of five hotels as well as theme parks, casinos, shopping malls and recreational facilities. The envisaged Las Vegas style city is likely to cover a 150 hectare site by completion. (E-10.08.08)

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