• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Pagcor nods licence for casino resort in Cebu

May 05, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor nods licence for casino resort in Cebu

The Philippine Amusement and Gaming Corp (Pagcor), the country’s gaming regulator, has approved a provisional licence for local firm Udenna Corp to build a casino resort at Lapu-Lapu City, on the island of Mactan in Cebu province. The company on Thursday said it would invest US$300 million in the scheme, according to media reports.

Privately-held Udenna – owned by Philippine businessman Dennis Uy – is a holding company based in Davao City, engaged in trading and shipping. Mr Uy is said to have been one of the top contributors to the election campaign of the country’s current head of state, President Rodrigo Duterte.

Udenna said in a statement it planned to start construction of the casino resort – dubbed Lapu-Lapu Leisure Mactan – in three months. The project would be built on a 12-hectare (29.6-acre) beachfront property, six kilometres (3.7 miles) from Cebu’s international airport (pictured).

The casino, retail complex and hotels are scheduled to open as early as 2019, with the remaining facilities completed by 2022, the firm said.

“We see this integrated development taking a major role in bringing the Philippines on par with the region’s premier destinations for leisure, gaming and meetings, as well as for commercial and residential investments,” said in a statement Mr Uy, Udenna’s president and chief executive, as quoted by Reuters news agency.

The head of Pagcor, Andrea Domingo, had said in March that the country would have a five-year moratorium on issuing further casino licences for the capital Manila, amid industry concerns of oversupply.

Despite the moratorium on more Manila licences, Pagcor was said to be welcoming applications for other parts of the country with more modest capital expenditure.


  • tweet
Related articles
  • Suntrust gets OK for unit handling hotel, tourism biz
    Suntrust gets OK for unit handling...

    Jan 20, 2021  

  • Metro Manila, thus Entertainment City, in GCQ to Jan 31
    Metro Manila, thus Entertainment City,...

    Dec 29, 2020  

More news
  • Digital yuan eventually for Macau mass bets mulls Bernstein
    Digital yuan eventually for Macau mass...

    Jan 22, 2021  

  • Macau Covid-19 case no bar to mainland travel ties
    Macau Covid-19 case no bar to mainland...

    Jan 22, 2021  


Latest News

Digital yuan eventually for Macau mass bets mulls Bernstein

Digital yuan eventually for Macau mass bets mulls Bernstein

Jan 22, 2021  

Were China’s central government-backed digital yuan (CNY) to be adopted in Macau for casino chip transactions, it could in the long run benefit mass and premium-mass play, as cross-border money...
Read More
Macau Covid-19 case no bar to mainland travel ties

Macau Covid-19 case no bar to mainland travel ties

Jan 22, 2021  

Mohegan seeks govt nod to delay Inspire opening

Mohegan seeks govt nod to delay Inspire opening

Jan 22, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The entire company is eagerly anticipating the launch of our newest themed destination – The Londoner Macao"

Wilfred Wong Ying Wai

President of Macau-based casino operator Sands China



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Melco likely to take on more debt for expansion: Moody’sMelco likely to take on more debt for expansion: Moody’s January 20, 2021
  • Macau Covid-19 case no bar to mainland travel tiesMacau Covid-19 case no bar to mainland travel ties January 22, 2021
  • Grand Lisboa Palace backer SJM taps circa US$1bln in notesGrand Lisboa Palace backer SJM taps circa US$1bln in notes January 21, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us