Pagcor City is being developed in the style of Las Vegas by the Philippine government’s gaming body PAGCOR. The Philippine Amusement and Gaming Corp last year said that up to US$20 billion would be spent on the project intended to bring in the tourists, much in the way Singapore is banking on its integrated casino resorts to increase visitor numbers and boost the economy.

The ‘Entertainment City’ along Manila Bay will be on 800 hectares of reclaimed land and will be developed in three stages. The first phase will include a hotel casino resort and theme park, and the Greek casino company Loutraki is believed to be in line for obtaining a casino licence, along with another as yet unnamed foreign operator. Japanese investors are said to be interested in developing a retirement village once the first phase is complete.

The hotel, casino and theme park are expected to take two years to finish but the Pagcor City launch is scheduled for the second quarter of 2008. At this time, according to Pagcor chairman Ephraim Genuino, the issuance of the gaming licences will be announced. Casinos will only account for about 5% of the properties in Pagcor City. Residential condominiums, commercial centres and office developments will be added to hotel casinos, theme park, retirement village and wellness centre. (E-01.24.08)

© Copyright 2008 CasinoCompendium



>>> return to archives
>>> return to frontpage