Philippines city may become home to $400M casino-resort

Casino

Philippines city may become home to $400M casino-resort

Friday 13 de September 2024 / 12:00

business.inquirer.net

⏱ 1 min read

(Lapu Lapu City).- Alliance Global Group plans to build a $400 million casino-resort in Lapu-Lapu City, Cebu, Philippines, that would be composed of a two-story gaming area, a five-star hotel, villas, restaurants and a beachfront area. The company is seeking a gaming license from the Philippine Amusement and Gaming Corp. and, if approved, expects to begin construction in early 2025.

Philippines city may become home to $400M casino-resort

Alliance Global Group Inc. (AGI) may start building its $400-million casino resort complex in Lapu-Lapu City, Cebu province next year as the listed holding company widens its footprint in one of the country’s top tourist destinations.

AGI president and CEO Kevin Tan confirmed on Tuesday that they were in the process of getting a gaming license from the Philippine Amusement and Gaming Corp. after securing a letter of no objection from the local government.

Once AGI, through leisure and tourism arm Travellers International Hotel Group Inc. (THGI), gets its license, construction will begin early next year in time for commercial operations at the end of 2026, Tan told reporters on the sidelines of the Inside Asian Gaming Academy Summit in Pasay City.

He added that the casino resort complex would stand within real estate subsidiary Megaworld Corp.’s 30-hectare The Mactan Newtown township near Mactan-Cebu International Airport, the country’s second-largest gateway.

The project will have a gaming area on two floors, along with food-and-beverage outlet stores, villas, a five-star hotel and a beachfront, according to Tan.

“The beautiful thing about it is it will be across our convention center, the Mactan Expo,” Tan said, referring to his company’s recently opened P1.5-billion project. —Meg J. Adonis INQ

Categoría:Casino

Tags: Sin tags

País: Philippines

Región: Asia