Philippine Amusement and Gaming Corporation is willing to license casino projects outside Manila.
Philippines.- The Philippine Amusement and Gaming Corporation (Pagcor) is open to the idea of licensing US$ 300 million projects to build casinos outside of the capital. So far, the country has issued four licenses for casino resorts with a minimum investment of US$1 billion each, so the capital the government asked from investors for previous projects has shrunk considerably for the next stage.
Solaire Resort and Casino and City of Dreams Manila are already open to the public, whilst Manila Bay Resorts, Philippines’ biggest casino project with an investment of US$2 billion, is set to open its doors later this year. Resorts World Bayshore, the fourth resort, currently under construction, is expected to open in 2018.
Cristino Naguiat, chairman of the Philippine Amusement and Gaming Corporation said there are areas outside Manila, “very ripe for a casino,” and Pagcor is “open to giving out a casino license if it can help boost economic activity and if the people in the area want it.”