In the Philippines, the firm behind the Widus Hotel and Casino Clark has reportedly declared that the Luzon venue will be opening a new 15-story and 260-room hotel from next week due to be branded as the Clark Marriot.
September 14 launch:
According to a report from GGRAsia, the coming Friday premiere of the five-star hotel for the development operated by South Korean firm Widus International Leisure Incorporated comes after the enterprise launched its first such facility in 2008 followed by a similarly-sized counterpart four years later.
No gaming inside coming hotel:
Located in the Clark Freeport Zone, which is the site of a former United States Air Force base, the Widus Hotel and Casino Clark complex currently offers some 233 hotel rooms alongside a 48,437 sq ft casino featuring 342 slots as well as 54 gaming tables. Although the new hotel will not have its own gambling floor, Widus International Leisure Incorporated reportedly told GGRAsia that the property will be ‘connected to the existing Widus Hotel and Casino [Clark] as part of the integrated resort’.
Fourth hotel being planned:
GGRAsia reported that the operator is moreover planning to inaugurate a fourth luxury hotel for the Widus Hotel and Casino Clark by the end of 2020 in order to take the development’s total room allowance up to 873. By this time, it detailed that the firm will have spent approximately $500 million on the property in just over twelve years.
Operator planning IPO:
Finally, Han Daesik, President and Chief Executive Officer for Widus International Leisure Incorporated, reportedly detailed to GGRAsia that his firm is hoping list its shares on the Philippine Stock Exchange before spending another $500 million to further enhance the Widus Hotel and Casino Clark. He purportedly stated that such an initial public offering (IPO) ‘is still in the pipeline’ before adding that his firm was ‘still studying the feasibility of the market’.