Pagcor signs agreement for tourist complex

CLARK CASINO STRIP

In 1991 a US military base in Clark, the Philippines, was handed back to the government and last year it was declared a Freeport. Since the Americans left Clark has been growing in popularity as a tourist resort and the Philippine Amusement and Gaming Corp (Pagcor) has recently signed an agreement with Clark Development Corp (CDC) for a world-class casino resort project. It has now been suggested that Clark develop a casino strip as in Clark County, Nevada.

The former Clark Air Base on Luzon Island has become the Clark Special Economic Zone (CSEZ) with the Diosdado Macapagal International Airport (Clark International Airport) one of the most modern in Asia. On 20 March 2007 Clark Freeport was created and the CDC appointed to administer it. Hundreds of foreign and domestic investors have moved into the area since then, with plans for at least 34 tourism-related projects. Employment for over 19,000 workers within the next five years is anticipated.

Pagcor intends to build a 5-star hotel, restaurants, casino and resort facilities on a 13.5 hectare site in Clark. According to CDC president Levy P Laus, this could be the first development in a casino strip along the commercial district. Committed investment for Clark is already P48.99 billion (US$1.2 billion). The creation of the CSEZ has helped Angeles City offset the loss of income suffered after the US military left. It is now known as the ‘entertainment capital of Central Luzon.’ (E-03.10.08)

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