In The Know: ‘Pagcor Entertainment City’
Philippine Daily Inquirer
In April 2008, Philippine Amusement and Gaming Corp. (Pagcor) resurrected a plan to put up a “Las Vegas-style” casino and tourism complex on Manila Bay. Originally unveiled in 2007, it was initially called “Pagcor Entertainment City.”
Once completed, the project is expected to boost tourist arrivals and generate new jobs, according to Pagcor. The complex will feature “six-star hotels, gaming facilities, malls, museums, cultural centers, sports arenas, residential villages and theme parks.”
Now dubbed “Entertainment City Manila,” the project would have interconnected facilities which will feature shopping, dining, concerts, exhibits and gaming, according to Pagcor.
The four companies granted licenses to build, own and operate integrated resorts in Entertainment City Manila are Travellers International Hotel Group (which owns Resorts World Manila), an SM consortium, Tiger Resorts Leisure and Entertainment Inc. and Bloomberry Resorts and Hotels Inc.
Pagcor guidelines require a minimum $1-billion investment in each integrated resort. Each licensee is also required to build a minimum of 250,000 square meters of floor area and complete 800 hotel rooms with an average room area of 40 sq m. Everything must be in order before the casino inside the complex opens.
Pagcor said Entertainment City Manila “is projected to capture at least a 10-percent share in the total global gaming market, which is estimated at $115 billion annually.”
It is also expected to generate “1 million jobs and 1 million tourists in the next few years,” Pagcor said.
Bloomberry’s planned Solaire Manila Project, an integrated resort complex, includes a five-star, 500-room hotel covering some 165,000 sq m of floor area, while Tiger Resorts’ $2-billion Manila Bay Resorts is expected to “contribute significantly to the 400,000 jobs” to Pagcor’s 1-million target.
Resorts World Bayshore City, on the other hand, is expected to feature the Grand Opera House, a performing arts venue which is expected to seat 2,500. Inquirer Research