A $2 BILLION entertainment complex will rise in the Pagcor Entertainment City.
Four license holders form the backbone of Philippine Amusement and Gaming Corp’s. (Pagcor) Entertainment City.
They are the SM group, through its gaming-and leisure-oriented unit, Belle Corp.; Japan’s Aruze Corp.; the Enrique Razon-owned Bloombury Corp.; and Travellers International Hotels.
Up to $4 billion in investments is expected to be poured into the project which will rise on a 120-hectare property reclaimed from Manila Bay.
Pagcor predicts that the fully operational development project would create direct and indirect employment for some 1 million Filipinos and generate gaming revenues of $11 billion a year.
The first of the four developments—Bloombury’s Solaire casino hotel—is slated for completion by the first quarter of 2013. Daxim L. Lucas