Philippines Gambling ParadisePublished November 27, 2008
An ambitious 5-year project aimed at establishing a $15 billion Entertainment City Complex in the Philippines is about to get underway.
The papers have been signed, which means that the Philippines is set to have one of the largest Entertainment City complexes in the world. Ambitious as it may be PAGCOR president Rafael Francisco is excited at the prospects for the $15 billion complex. Work on the 150 hectare site is slated to begin in early 2009.
Vegas and Macau style
If plans go as scheduled the Philippines complex will rival the complexes of Las Vegas and Macau. Heavyweight investors including Japan's Aruze Corporation, SM Group of Companies and Alliance Global are looking to get on board.
Some eight luxurious hotels, spectacular theme parks, shopping havens and amazing gambling facilities will be created. This translates into hundreds of thousands of new jobs for the island nation. With all that investment and government approval backing it up - gambling in the Philippines is going to attract a whole lot of international investment.
The Philippines already has a well-established lottery in place and the next step certainly looks to be a gambling super-center. Sports betting is already huge with things like boxing - star pugilist Manny Pacquiao - always attracts a whole lot of gambling attention.