Good article for a slow news period
Posted on September 27, 2008
Filed Under Philippines Casinos | 2 Comments
This is worth reading since the newsflow has been slow. Usually I would post the link but for some reason it redirects me to a webpage that isnt working, so I had to post the whole article below. The article was dated September 17th and its from www.gerryalbertcorpuz.motime.com:
Last week, a senior economic official of the Manila government made a subtle endorsement of Philippine President Gloria Macapagal-Arroyo’s plans to construct a Las Vegas-style gambling complex in the country to save the economy from total collapse.
At the hearing of the House of Representatives on the proposed P2.85 billion (approx US$60.5 million) budget for 2009 of the Department of Trade and Industry, its chief secretary, Peter Favila said, Singapore and Malaysia, two of the biggest economies in the Asian region made big money and rallied their respective economies by allowing foreign investors to put their money primarily in entertainment and private gaming. The trade secretary was referring to the US$15 billion casino and entertainment complex the government will construct along the reclaimed areas of Manila Bay in Pasay City. Read more
Aruze casino plans in the Financial Times
Posted on September 15, 2008
Filed Under Aruze, Entertainment City Manila, Manila Bay Casinos, Philippines Casinos | Leave a Comment
For those not familiar with the Financial Times, it is the equivalent of the Wall Street Journal for the UK. Its also probably the only pink newspaper you’ll ever see. Anyway, the FT mentioned Aruze’s plans for its Manila Bay Entertainment City casino resort: Read more
Philippine Trade Official endorses casino expansion
Posted on September 11, 2008
Filed Under Manila Bay Casinos, Pagcor City, Politics | Leave a Comment
Philippine Trade and Industry Secretary Peter Favila endorsed the Pagcor City casino expansion when he spoke to the House of Representatives this past Monday.
“Maybe this is something that we can take a look at. I know the sensibilities of certain sectors. I know the sensibilities of the Church, but we might be missing [on the opportunity here].”
From a purely tourism dollar perspective his argument makes sense, saying the Philippines registered only around $2 billion in tourism revenue, while its two neighbors, Singapore and Malaysia raked in somewhere between $8 billion and $10 billion.
Two articles to read:
- Secret of success is gambling, House is told
- Philippine Trade Official Recommends Casino Development
Must read article
Posted on August 30, 2008
Filed Under Entertainment City Manila, Manila Bay Tourism City, Overview and Background, Pagcor City | Leave a Comment
MacauBusiness.com did an article a few months ago about Pagcor City that really includes a lot of great stuff. As a matter of fact, it might be the best single piece of information out there on Pagcor City. The article is a few months old, so a few things have changed since then, but the background, overview and insight is excellent. Read more
Aruze gives update on Entertainment City Manila
Posted on August 26, 2008
Filed Under Aruze, Entertainment City Manila, Manila Bay Casinos, Manila Bay Tourism City, Pagcor City | Leave a Comment
I know, Im calling it Entertainment City Manila now. Pagcor City, Manila Bay Tourism City, whatever you get the point. Every month the press and/or government is calling it something different. Anyway, Aruze issued a press release giving details of its Pagcor City, oops, I mean Entertainment City Manila project. Its good to see that they seem serious about this and are moving ahead nicely with it. Here’s the link: Read more
SM Investments: US casino operator in Manila Bay
Posted on August 19, 2008
Filed Under Manila Bay Casinos, Manila Bay Tourism City, Pagcor City | Leave a Comment
According to the Philippines Inquirer.net, SM Investments in in talks with a US based casino operator to manage its 1.0 - 1.2 hectare Pagcor City casino project it plans on building adjacent to Mall of Asia in Manila Bay.
Lets hope that if an announcement does come, the casino operator that SM Investments picks is a credible and successful US casino company, and not some start-up or tiny company no one has heard of. One company we know it wont be will Wynn since they have a relationship with SM Investment’s competitor Aruze, and Wynn has publicly said that they will not be involved in the Philippines.
Crown pulls out of Manila Bay
Posted on July 23, 2008
Filed Under Crown, Pagcor City | Leave a Comment
It is being reported that James Packer’s Crown is pulling out a project with Bloombury Investmentsto develop the billion dollar casino project as part of Pagcor City. The company blames the decision on the global credit crunch which has increased borrowing costs, which would make it more difficult to obtain a feasible return on investment.
Crown’s CEO was quoted as saying, “After further review, Crown has determined not to participate in Bloombury’s proposal or any other proposal to develop an integrated casino-entertainment complex in Manila Bay”. Read more
Paper: Alliance Global and Star Cruises deal near
Posted on July 17, 2008
Filed Under Alliance Global Group, Manila Bay Tourism City, Pagcor City, Star Cruises, Travellers International Hotel Group | Leave a Comment
A deal between Alliance Global and Star Cruises is near, according to a local paper. The deal would give Star Cruises a stake in Alliance Global’s tourism division, Travellers International. This deal should pave the way for the companys’ Manila Bay Tourism City casino project.
James Packer article
Posted on July 9, 2008
Filed Under Bloombury Investments, Manila Bay Casinos, Manila Bay Tourism City, Pagcor City | Leave a Comment
For those that follow the casino industry in Australia and Macao, you know who James Packer is. For those who dont, and even those who do, I highly recommend this well researched article about the man who is the money behind Bloombury Investments’ Manila Bay Tourism City project. Read more
Bloombury Investments article
Posted on July 1, 2008
Filed Under Bloombury Investments, Manila Bay Casinos, Manila Bay Tourism City | Leave a Comment
No experience? No financing? No problem, according to this article, as long as you’ve got the right political connections. This is worth the read if you’re interested in learning more about Bloombury Investments, which was really an unknown when Read more
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