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Property tycoon Villar to invest $1b in new integrated resort for Manila

Posted: Dec 05, 2022 11:34 Category: Asia , Casino , Land-Based , Posted by Maria Debrincat

This will be the biggest Integrated Resort in terms of land area

Real estate magnate Manuel Villar Jr. is investing around $1 billion to enter the integrated gaming resort industry, beginning with the conversion of the Vista Mall Global South retail centre along the C5 expansion in Las Pinas into a casino roughly the size of Solaire Resort & Casino. Within a year, the project is anticipated to be completed, and Villar plans to eventually reveal a foreign partner at a later stage.

Property tycoon Manuel Villar Jr. is investing in the Philippines’ integrated resort industry with a $1 billion investment.

Speaking to the media on Friday, Villar revealed his plans to build an integrated resort with malls, hotels, condotels, and even a theme park on his land, which spans around 80 hectares and has a gross floor area of 18,000 square metres, or almost as much as Solaire’s gaming floor space.

Villar is required by PAGCOR’s regulations to invest in hotel rooms at a specific ratio to the gaming space that will be opened. He mentioned getting authorization from the local government in addition to the licence given by the Philippine Amusement and Gaming Corp. (PAGCOR). According to Villar, PAGCOR was promised a $1 billion investment in the project, including the cost of the land.

After Solaire, City of Dreams, Okada Manila, and Westside City Resorts World in the vicinity of Manila’s Entertainment City, viewed as the Las Vegas Strip of the Philippine capital, this proposal would be the area’s fifth integrated resort. At the PAGCOR Entertainment City, there are four further integrated resorts: Andrew Tan’s Westside City, Enrique Razon’s Solaire, Belle Corp.’s City of Dreams Manila, and Okada Manila. When asked what the name of the integrated resort will be, Villar replied that the branding had not yet been decided.

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