Vol. XXII, No. 88 [ BusinessWorld Online ]
Wednesday, November 26, 2008 | MANILA, PHILIPPINES
THE SUBIC Bay Metropolitan Authority (SBMA) aims to get a bigger slice of the local and foreign tourism market with the construction of a $120-million gaming and leisure facility at the free port.
In a statement, SBMA said the 15-storey facility, which broke ground in Subic last week, is expected to create 5,000 jobs and spur tourism growth. It will be completed by 2011.
Korean firm Grand Utopia, Inc. is building the project called Ocean 9 Casino and Hotel Resort.
"The hotel and casino complex will be built using cutting-edge technology and advanced architectural systems in order to make a unique design that will blend comfort with entertainment," the SBMA quoted Grand Utopia Chairman Moon-Sung Choi as saying.
The facility will also have convention and business facilities, SBMA said. The casino and hotel project is a critical infrastructure in Subic’s bid to attract more foreign tourists. — Bernardette S. Sto. Domingo
