Udenna Corp to open a casino on Cebu
Philippines president Duterte’s financier has received a PAGCOR license to establish a US$300 million casino on Mactan Island.
Philippines.- Philippine Amusement and Gaming Corporation (PAGCOR) has authorised the construction of the first integrated resort outside Manila. Udenna Development Corporation will build a US$300 million resort on Mactan Island after receiving a provisional license that has raised some speculation due to the enterprise’s link to the country’s president.
The company has been linked with president Rodrigo Duterte, as Philippines’ Commission on Elections reports that Dennis Uy, Udenna’s executive, was one of the top campaign contributors to his campaign with donations of over US$600 thousand. However, PAGCOR CEO Andrea Domingo has denied that the license is a way to repay the favour.
Udenna’s US$300 million project has been called Lapu-Lapu Leisure Mactan and will be established on the island, within central Philippine province of Cebu. Construction for the 12 hectare resort that will be located at a beachfront property near the airport will start in threemonths and it’s expected to have a first opening in 2019 and its full inauguration in 2022. It will feature skydiving center on a pier, a retail complex, a convention center, luxury hotels and villas, specialty dining options, private residences and condominium-hotels.
