Pagcor City
From Wikipedia, the free encyclopedia
PAGCOR City is the name of a Las Vegas-like gaming and entertainment complex that PAGCOR is proposes to build on 8 km² of land on the reclamation area of Manila Bay, Philippines. The cost of the project will be $15 billion , which is scaled down from the more recent $20 billion budget announcement that had been previously announced in 2007. All investments will come from private companies[1]. The project has recently been renamed "Bagong Nayong Pilipino-Manila Bay Tourism City", but is called several different names by the press. Currently, the most common name being referenced is "Manila Bay Tourism City".
Four Integrated Resort projects have been selected by Pagcor to begin construction on phase I of Manila Bay Tourism City[2].
[edit] Approved Projects
Genting Berhad of Malaysia in a joint venture with Alliance Global Group Inc.
SM Investments Corp. in a tie-up with Asia Pacific Gaming Corp. of Australia
Aruze Corp. of Japan in a tie-up with its partner Wynn Resorts of Las Vegas
- $2.5 billion casino resort on 40 hectares of land that would include a casino hotel, “Manila Eye” ferris wheel, art museum, acquarium, commercial facilities, etc.
- Expects to get licensed sometime between May and July 2008, with the expectation to commence construction around January 2009 and open its casino around April 2010. ".[3]
Bloombery Investments of the British Virgin Islands
[edit] References
- ^ $15-B Pagcor casino complex gets off the ground, Philippine Daily Inquirer, 4/04/2008
- ^ Las Vegas of the Philippines, Hong Kong Star, 4/03/2008
- ^ Global Casino Boom.
