Philippines – A deal announced last year by Suncity Group Holdings for it to enter the casino market in the Philippines is today coming to fruition after the firm announced its subsidiary had signed a leasing agreement in the Southeast Asian country that was initially pencilled as the site for the new casino resort.
It is reported that the agreement has been signed until the year 2039 between Suncity Group Holdings’ subsidiary Suntrust Home Developers Incorporated, Travellers International Hotel Group and Westside City Resorts World; a gaming and entertainment complex within the Entertainment City casino and entertainment complex, also known as E-City – a gaming and entertainment complex under development by Philippine Amusement and Gaming Corporation.
Reportedly, the deal involves an initial figure of two-hundred million dollars paid to Westside City Resorts World by Suncity for the firm to develop and operate the casino.
The location, Entertainment City, is a project is officially named as the Bagong Nayong Pilipino-Entertainment City through an executive order by President Gloria Macapagal Arroyo. Five Integrated casino Resort projects have been approved and are currently under construction by phases, including: City of Dreams Manila and Solaire Resort & Casino; currently the tallest hotel in the Manila Bay area.
City of Dreams Manila is a luxury integrated resort and casino complex owned and developed by Melco Resorts and Entertainment (Philippines) Corporation.
Metro Manila currently has around twenty casinos, most of which are located near the Manila Bay area and the NAIA airport. Most casinos in the city are operated by PAGCOR under the Casino Filipino brand.