He said he is not aware of the full details of the project but the idea is to develop a full-service hotel or entertainment city and not just casinos.
“There will be casinos but the idea is to make it bigger – more than a casino, more than focus on casinos – as what you have seen in the recent developments in Las Vegas,” the Palace official noted. “Ang idea dito is it’s just not only for gambling. That’s why ang plano rin sa entertainment city is more than just gambling,” he said.
Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho are teaming up with the Philippines' richest family to develop a us$ 1 billion casino in Manila.
SM Investments, which is controlled by the Henry Sy family, told the Philippine Stock Exchange its affiliate Belle signed an agreement with Melco Crown Entertainment to form a consortium to develop the project.
Melco Crown is a joint venture between Melco International Development of Ho, son of Macau gaming mogul Stanley Ho, and Packer's Crown of Australia.