Philippines gives thumbs up to new casino in Cebu
The project, dubbed Lapu-Lapu Leisure Mactan, will sit on 12 hectares of beachfront property near the airport. The property will have a skydiving center on a pier, a convention center, luxury hotels and villas, specialty dining options, private residences and condominium hotels.
““Udenna plans to start construction in three months, and it aims to open the casino, retail complex and hotels by 2019. The entire project will be completed in 2022.
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The operator is controlled by Mindanao-based businessman Dennis Uy, one of Philippine President Rodrigo Duterte's top campaign donors during the election.
Pagcor Chair Andrea Domingo said in March that the regulator has imposed a moratorium on new integrated resorts in Metro Manila to shield pioneering integrated resort operators from greater competition. The existing investors, which together with their partners have invested at least $1 billion each, are Macau's Melco Crown, Malaysia's Genting Group, Japan's Universal Entertainment, and Bloomberry Resorts owned by Filipino businessman Enrique Razon.
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