The possible participation of Gokongwei-led property developer
Robinsons Land Corp. (RLC) in the planned multibillion-dollar tourism
and casino complex "Entertainment City Manila" is a welcome development,
Malacañang said Friday.
"If there is interest
in investing in the Philippines, we certainly welcome this activity,"
Communications Secretary Ricky Carandang said during a briefing at the
Palace.
The multibillion dollar, "Las
Vegas-style" complex, to be built near Manila Bay, is supposed to
feature six-star hotels, gaming facilities, malls, museums, cultural
centers, sports arenas, residential villages and theme parks.
It is supposed to boost tourist arrivals, generate new jobs, and
capture at least 10 percent of the global gaming market estimated at
$115 billion annually.
One of the proponents of
the project, Wynn Resorts Ltd. director Kazuo Okada, is reportedly in
talks with RLC for the project. Okada's feud with casino developer Steve
Wynn had earlier stirred a controversy in the Philippine Gaming
Corporation (PAGCOR).
"The plans for the Entertainment City
will require large amounts of capital and capital that comes in… will
help complete or continue those plans," said Carandang.
However, because of the private nature of the Okada-RLCH negotiations,
government cannot comment on the specifics of the deal , the Palace
official noted.
"This interest I understand, it
is at an early stage and the government has no role at this point. So
other than a general statement that we support more investments coming
into the Philippines I would not venture into making any other comment
regarding that proposed transaction," he added. — VS, GMA News
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