Alliance Global Group Inc. said it and Malaysian conglomerate Genting Group were considering investing more than $1 billion in a government-led, multibillion-dollar casino and tourism complex in the 40-hectare Manila Bay reclamation area.

Alliance Global president Kingson Sian said the two companies were working out the terms of a joint venture.

Genting is still doing a due-diligence study of the project, he said.

Sian said the project might consist of a hotel casino within the complex, possibly a theme park and condominium units.

Alliance Global has told the Philippine Stock Exchange that it will sign a joint-venture agreement with Genting?s affiliate Star Cruises Ltd., the world's third-biggest cruise line operator, on the tourism complex of the government casino franchising firm Philippine Amusement and Gaming Corp. (Pagcor).

Alliance Global said its Travellers International Hotel Group Inc. subsidiary would team up with Star Cruises to participate in Pagcor?s plan to build an integrated tourism zone on the 40-hectare property.

The project will house an array of leisure and entertainment facilities, including a theme park, theaters, amusement and cultural centers, retail and gaming centers and hotels, it said.

Alliance Global said Pagcor hoped to attract at least $4 billion in investments from both foreign and local investors and generate about 100,000 jobs once the entire development is completed.

Pagcor recently announced that Travellers had qualified to join in developing its integrated resort project.

In its application to Pagcor, Travellers proposed to build hotels with a minimum of 1,000 rooms spread out over several phases of development. With editing by INQUIRER.net