Philippine businessman Manuel Villar Jr (pictured in a file photo) has reportedly dropped plans to involve a foreign partner in his project to enter the casino market in that country.
Media outlet InsiderPH said – citing the real estate entrepreneur – that talks to tie to a foreign partner had fallen through.
In 2023 commentary, he had mentioned involving a South Korean group that wasn’t identified by name.
Mr Villar had been cited as observing in the 2023 remarks, the possibility of developing two Metro Manila casinos, both within Villar City.
The latter is a large-scale real estate development in the National Capital Region, being promoted by Villar Group. The master plan for Villar City is said also to include a central business district, a theme park, and a zone for higher educations.
Last year, Mr Villar had mentioned opening a first casino during 2025.
The Villar Group was said to have obtained a gaming licence during the time of the previous administration led by President Rodrigo Duterte. The group has yet to launch any gaming operations in the country.
The latest InsiderPH report cited Mr Villar mentioning a single casino that would be at the renovated Vista Mall Global South in Las Piñas, Villar City.
“The structure is finished. It’s a mall that I converted. We own the land, we own the structure,” he was quoted mentioning. The report mentioned no proposed opening date for the project.
The InsiderPH report stated Mr Villar hoped that venture would push up valuations in the south of Metro Manila, including the 3,500-hectare (8,649-acre) Villar City project.
Real estate entrepreneur Mr Villar was ranked third on the Forbes ‘Philippines’ 50 Richest’ list for 2024, with a net worth estimated at US$10.9 billion.
Above him were two entrants that already have casino interests in their portfolios. They were: ports investor Enrique Razon, chairman of casino developer Bloomberry Resorts Corp who was in second spot with US$11.1 billion; and the “Sy siblings” in first place with US$13.0 billion. They count casino investor Alliance Global Group Inc and the related Travellers International Hotel Group Inc among their interests.
