GGRAsia – Work on new Manila casino early in 2019: Alliance CEO

Work on new Manila casino early in 2019: Alliance CEO

Dec 27, 2018 Newsdesk Latest News, Philippines, Top of the deck

Building work on a long-heralded second Manila casino resort involving Philippine conglomerate Alliance Global Group Inc will begin in early 2019 and be completed in 2020.

So said Kevin Tan, the group’s chief executive, as quoted from a recent interview with the Manila Times newspaper, and mentioned in a story published on Thursday.

Westside City would see construction start “by early next year” and work would finish “by 2020,” said Mr Tan, who in June took over the group CEO role from his father Andrew Tan.

The township project – to be developed by the group’s property arm, Megaworld Corp – will be the location for Westside City Resorts World, a casino resort being developed by Travellers International Hotel Group Inc. Travellers International is a partnership between Alliance Global and Genting Hong Kong Ltd.

Westside City Resorts World – previously known as “Bayshore City Resorts World”, and before that “Resorts World Bayshore” – officially broke ground in October 2014 and was previously expected to be open by 2018.

The casino element at Westside City is part of a 31-hectare (76.6-acre) “leisure and entertainment township” within the Entertainment City zone, located in the Manila Bay area, according to a February announcement. The February announcement mentioned 2021 for the initial opening of the casino scheme.

Thursday’s report reiterated Alliance Global – via Megaworld – would spend PHP121 billion (US$2.30 billion) on developing Westside City. The figure was mentioned in the February filing by the conglomerate to the Philippine Stock Exchange.

Travellers International operates the Resorts World Manila casino resort next door to Manila International Airport.

Expansion at Newport City – the site where Resorts World Manila stands – will see several new hotels open: the Sheraton Hotel Manila and Hotel Okura Manila in 2019; with the Ritz-Carlton slated to be added by 2020.

Travellers International posted a net profit of PHP134.2 million for the third quarter of 2018, on higher gaming revenue.