Genting HK: co-operator of the Philippines’ largest casino, and local partner Alliance Global Group Inc (AGI), plan to start building their second gambling resort in the Philippines next year to meet demand.
“We are confident that there is a market,” says AGI President Kingson Sian. The second project, called Resorts World Bayshore, follows the existing Resorts World.
Genting HK and AGI’s venture, Travellers Int’l, will build a 31-ha gaming complex in the capital after winning one of four casino operator licenses the Philippines issued in 2008 and 2009.
Belle Corp., Bloombury 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-ha Resorts World and may buy 2 ha of property after estimated foot traffic more than doubled to between 18k -20k visitors a day this year. Resorts World visitors will probably more than double to 5m in 2011 from 2m last year, the co estimates.
Alliance and unit Megaworld Corp. expect to post record profit this year.
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