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Okada, Robinsons to open gaming complex in 2014

By Jenniffer B. Austria | Posted on Dec. 21, 2012 at 12:01am |
Robinsons Land Corp. and the Okada Group’s Tiger Resort Leisure and Entertainment Inc. plan to open their $1-billion integrated entertainment and gaming complex in Parañaque City by late 2014.
Robinsons Land general manager Henry Yap said in a media briefing the 44-hectare Manila Bay Resorts would have three hotels with 2,000 rooms. The consortium will build two luxury hotels and one budget hotel.
Yap said the gaming component of the project would cover 30,000 square meters offering 3,000 slot machines and 500 gaming tables.
He said for the retail development, Manila Bay Resorts would contain a shopping mall, a trade hall, luxury retail stores and restaurants.
The casino complex will have a water fountain as one of its major attractions as well as residential towers, he added.
Robinsons Land expects the landmark project to draw interest from local and foreign visitors, especially from Asia-Pacific. The project is also expected to generate more than 5,000 jobs.
Robinsons Land signed a deal with Universal Entertainment Corp. of Japanese pachinko magnate Kazuo Okada to develop Manila Bay Resorts last week.
Robinsons Land, under the agreement, will purchase a majority stake in an Eagle I Land Holdings Inc., a company that owns 30 hectares of land located within the casino project.
Robinsons Land will also subscribe to a minority stake in Tiger Resorts, Leisure and Entertainment Inc., the company that was awarded provisional license to own, develop and manage an integrated mixed-use, resort, and gaming development within the Philippine Amusement and Gaming Corp.’s Entertainment City in Parañaque.
The agreement is subject to comprehensive due diligence, with definitive agreements expected to be signed by Jan. 31, 2013.
Okada’s Tiger Resort is one of the four groups given a license to operate a casino in Pagcor’s Entertainment City.
The three others are Travellers International Holdings Inc., a joint venture between Alliance Global Group Inc. and Genting Hong Kong; Bloomberry Resorts Corp. of businessman Enrique Razon Jr.; and Premium Leisure and Amusement Inc. of Sy-led Belle Corp.
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