NUSTAR Resort and Casino opens its doors on Cebu island
The IR was expected to open in March but was delayed due to the Covid-19 Omicron variant.
The Philippines.- NUSTAR Resort and Casino, a tourist complex on Cebu, opened its doors at the weekend, becoming the first upscale IR on the island.
The resort will eventually have three hotel towers. Tower 1 will be super high-end, Tower 2 will be five-star and Tower 3 will be for the MICE market. The final casino will have a total area of 21,000 square meters and will eventually include 1,500 slot machines and 500 tables.
Most gaming venues on the island are small VIP clubs, with the largest existing property being the Waterfront in Cebu City, run by the Philippine Amusement and Gaming Corporation (PAGCOR).
PAGCOR expects to double gross gaming revenue this year
PAGCOR chairman and CEO Andrea Domingo has told Philstar that PAGCOR’s annual GGR could reach around PHP60bn to PHP65bn, almost double what it was last year. She added that GGR could reach between PHP25bn and PH35bn by the end of the first half.
Domingo said the economy was picking up after borders opened. She added: “There are a lot of foreigners coming in now to play because we have casinos, where foreigners predominantly play and where very few Filipinos do a lot of heavy betting.”
