US$300m casino-resort announced for Philippines
Manila, Philippines – 4 May 2017 –
The Philippines’ Udenna Corp announced plans to build a US$300 million integrated casino-resort in central Philippines, the first such outside capital Manila, Reuters reported.
The nation’s gaming regulator is inviting investors to build casino-resorts outside the capital to accelerate growth in the gambling and tourism sectors despite a crackdown by China, a big source of high rollers, on wealthy punters.
Unlisted Udenna, a holding firm owned by one of the top campaign contributors of President Rodrigo Duterte, plans to start construction of the Lapu-Lapu Leisure Mactan in Cebu city in three months, the company said in a statement.
“We see this integrated development taking a major role in bringing the Philippines on par with the region’s premier destinations for leisure, gaming and meetings as well as for commercial and residential investments,” said Udenna President Dennis Uy.
The casino, retail complex and hotels are scheduled to open as early as 2019.