This only validates the tremendous potential both in the mass-market segment among locals and local VIPs and outside the Philippines. “Its January 2010 revenues in tables and slots breached PHP 1 billion (over US$21 million), which is equivalent to combined revenues of two or three PAGCOR casinos in Manila. “Resorts World Manila has opened up new local and international markets,” says Francisco. Rafael “Butch” Francisco, PAGCOR’s president, says the casino has reached out successfully beyond the locals market as well. The popularity of Resorts World Manila is a testament to the strength of the market and the curiosity about new and modern gaming facilities. It’s part of a larger development called Newport City, which includes housing, hotels, entertainment and a casino. “We are all set to make this dream a reality because we know that the Philippines has so much potential to spring into a world-class destination.”Īny uncertainty about the metro Manila market seems to have been swept away by the success of Resorts World Manila, a Genting project that opened in the third quarter of 2009 adjacent to Manila’s Ninoy Aquino International Airport Terminal 3. “This will be the country’s biggest tourism development project ever, the biggest job-generating project of the government, and the biggest dollar investment of the country,” Genuino said. The project is largely designed to increase tourism to the Philippines, says Genuino. “After all, the world is a global village and the more options for travelers, the better for the competition to improve its standards.” “Our project will rely on the concept of a consortium between international industry players, to come up with premier entertainment that would appeal to everyone,” he says. Still, PAGCOR is confident the project will be completed, according to Chairman Efraim C. Others have expressed interest in the fourth site, including Crown Casinos, MGM Mirage and Harrah’s Entertainment, but the depressed economy and uncertain future have delayed any final decisions. The players that have already committed have been known for several years: the Japanese games manufacturer Aruze, led by mogul Kazua Okada, a major partner in Wynn Resorts a coalition led by Malaysia’s Genting Berhad, its division Star Cruises and Alliance Global and local company SM Investments Corp., owner of the nearby Mall of Asia.
Even though Entertainment City was conceived and planned long before the two integrated resorts in Singapore, the Manila project is still just a concept when the Singapore developments are opening this year.Ĭomplicating the means of development for the Philippine Amusement and Gaming Corporation (PAGCOR), which is directing the project, has been the worldwide recession and the investment necessary to fulfill the agency’s requirements of four resorts with an investment of at least $1 billion each.
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