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SM Investments Corp. (SMIC), the publicly listed holding firm of the mall tycoon Henry Sy, said it was considering building a gaming facility within “Pagcor City,” the Las Vegas-like entertainment complex being planned near the company’s SM Mall of Asia in the Manila Bay reclamation area.

The company is in talks with a US-based casino operator and is considering developing a 1.0-1.2 hectare casino facility at an estimated cost of P2 billion to be rented to casino operators, SMIC executive vice president Jose Sio said.

Sio said SMIC was planning to integrate Mall of Asia with a massive project of the government casino firm Philippine Amusement Gaming Corp. (Pagcor) called “Bagong Nayong Pilipino Manila Bay Tourism City,” or Pagcor City.

SMIC president Harley Sy said of the Pagcor project: “I see it as complementing our development here. I believe that will increase the value of Mall of Asia.”

SMIC earlier said it would build a P2.4-billion hotel in the sprawling Mall of Asia complex and had engaged Singapore-based Carlson Hotels Worldwide-Asia Pacific to manage it.

The Carlson group is a leading provider of marketing, travel and hospitality services. It owns the TGI Friday’s and Regent Seven Seas Cruises brands, among others.

The hotel is expected to be completed late next year. The hotel building will have a wing one under the five-star Regent brand and a wing under the four-star Radisson brand.

The Radisson will have 500 guest rooms and the Regent will offer 80 large suites, including a 400-square-meter presidential suite. Edited by INQUIRER.net

• Meralco to start P1.5-B refund in January
• Construction-related firms show mixed Q1 results
• Tourism likely to miss 2010 target of 5-M arrivals
• Boracay to have daily brownouts until September
• The Ruins: Mirage in the Sugarcane Fields
• Generators to power Boracay in next two months
• Stockholders mtgs, gov’t data this week
• Generators to power Boracay for next two months
• RP's biggest gold ring to be displayed in Davao festival

• China wants new global monetary system
• Solons caution gov’t on privatization