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Genting to build 2nd casino

by Jenniffer B. Austria
[ ] December 30, 2011

Star Cruises Ltd. of Genting Malaysia Bhd., co-operator of the country’s largest casino, and local partner Alliance Global Group Inc. plan to start building their second gambling resort in Pasay City next year to meet demand.

“We are confident that there is a market,” Alliance president Kingson Sian told reporters Thursday. The second project, called Resorts World Bayshore, follows the existing Resorts World.

Genting and Alliance’s venture, Travellers International Hotel Group, will build a 31-hectare gaming complex in Pasay City after winning one of four casino operator licenses the Philippines issued in 2008 and 2009. Belle Corp., Bloomberry Investments Holding Inc. and Japan’s Universal Entertainment Corp. are also building casinos under the licenses.

“We have to make sure that Bayshore won’t cannibalize what we have at Resorts World,” Sian said.

Travellers plans to expand its existing 10-hectare Resorts World and may buy two hectares of property after estimated foot traffic more than doubled to between 18,000 to 20,000 visitors a day this year, Sian said. Resorts World visitors will probably more than double to 5 million in 2011 from 2 million last year, the company estimates.

Alliance and unit Megaworld Corp. expect to post record profit this year, Sian said.

Sian said Travellers would acquire the two-hectare property from sister company Megaworld Corp. He said the acquisition would enable Travellers to put up more shopping, entertainment and gaming areas within the area.

About 15,000 of the 18,000 visitors in Resorts World Manila are casino players. Sian expects the number to increase to 35,000 to 40,000 a day toward the end of 2012.

He said the company had started offering 24-hour cinema and would soon have a 24-hour shopping for customers. It is also building a huge gaming arcade that will attract families.

The company is building the country’s largest ballroom with capacity of 2,500 people and putting up new hotels within the area.

Bayshore Manila will be the company’s second integrated tourism estate. It is three times the size of Resorts World Manila.

Travellers International has committed to invest $1.1 billion to develop the property.

Alliance Global is one of the biggest conglomerates in the Philippines, with interests in the food and beverage industry, property development and quick service restaurant operations.

Star Cruises is the leading cruise line in the Asia-Pacific. Its main business activities include leisure and entertainment under Genting Malaysia, a private company incorporated in 1980.

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