Filinvest to build $200 million IR in the Philippines
The company says that it will build an integrated casino project to take advantage of an expected rise in revenues.
Philippines.- Philippines company Filinvest Development Corp revealed on Thursday that it will build a US$200 million integrated casino resort project north of the capital. The company said that it wants to take advantage of an expected gaming revenue rise in the Philippines.
Filinvest told the Philippine Stock Exchange that it obtained a provisional license from the Philippine Amusement and Gaming Corporation (Pagcor) that allows the company to build and operate a casino in Pampanga, a province 62 miles away from the capital.
The investment for the facility stands at US$200 million, and with a gross gaming revenue hike of 11 per cent in 2017 to US$3.4 billion, Filinvest believes that the outcome will be very positive. “We foresee further upsurge in tourist arrivals upon completion of the project components,” it said.
