The casino industry in the Philippines is growing at a rapid pace as the Philippine government continues to encourage foreign companies to invest in its casino industry and construct mega-casino resorts. An American based company along with a Macau based gaming establishment has approached the government with a proposal to construct a multi-billion dollar casino resort in Lapu City.
Macau Resources Group Ltd and the Sino-American Gaming Investment Group are willing to invest $650 million to purchase 14-hectares (34.6 acres) of land in Barangay Mactan to construct a mega-casino resort called Mactan Leisure City. If the government approves all the necessary documentation, then construction will commence at the earliest as Sino-America would like the casino to be opened in 2017.
The new casino resort will create over 6000 employment opportunities for the local people and generate millions of dollars for the City in the form of taxes. The Mayor of Mactan is very keen on kick starting the project as soon as possible and has recommended the project to the City Council. If the council approves the project, it will then submit a “no objection” letter to the Philippine Amusement and Gaming Corp. (Pagcor) and only then can construction commence.
Macau Resources Group Ltd and the Sino-American Gaming Investment Group also want to construct a second casino in Napayawan, Masbate and will once again invest millions of dollars to set it up. However, they prefer to launch and run a successful casino in Mactan before starting work on their second casino. The casino in Masbate will most likely start operations in 2020.
The mega-casino resort in Mactan will have as many as three seven star hotels and a high end shopping mall and is expected to attract a large number of tourists. The Mayor of Mactan believes that the multi-million dollar casino will benefit the city in taxes but also the locals who will be able to cater to the influx of tourists.
In a statement, the Mayor said “This will help the city attract even more tourists. There might also be more chartered flights to the city since the casino’s market is mainly foreigners.” The Mayor is also looking to network with a number of establishments in the city including the local church to get their support and ensure there are no hiccups to the construction of this mega-casino.