Manila’s 120-hectare "Entertainment City" projected to earn $10 billion by 2016, says PAGCOR chairman Cristino Naguiat

ABS-CBNNews.com reports that Philippine Amusement and Gaming Corp. (PAGCOR) expects revenues from 120-hectare integrated casino and tourism hub in Manil-dubbed as "Entertainment City"-to "hit $10 billion by 2016, when all four locators start full operations."

ABS-CBNNews.com reports that  Philippine Amusement and Gaming Corp. (PAGCOR) expects revenues from 120-hectare integrated casino and tourism hub in Manila-dubbed as "Entertainment City"-to "hit $10 billion by 2016, when all four locators start full operations." The four locators are Bloomberry Hotels and Resorts Inc., whose Solaire Manila project will open next year; Tiger Resort Leisure and Entertainment Inc., which will develop the Manila Bay Resorts; and the SM Group, and Travellers International.

 

The report quoted PAGCOR chairman Cristino Naguiat, who said during a forum organized by the Economic Journalists Association of the Philippines and San Miguel Corp., that "Entertainment City" is "expected to trump [similar entities] in Las Vegas and Singapore in the next four years."

 

Naguiat explained: "A research report by [the] Citi group tagged the Philippines as the next market to watch. It said total revenue to be derived from gaming here will compare with Singapore’s $6.7 to $7 billion. But I’m more bullish than Citi. I’m looking at at least $10 billion revenues when the Entertainment City is completed, far greater than Las Vegas and Singapore."

 

For more on this story, log on to ABS-CBNNews.com.

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