MANILA, Philippines – Andrew Tan-led Alliance Global Group Inc. (AGI) said it would complete the first phase of the $1.1-billion Resorts World Bayshore, its second integrated casino and entertainment complex in the country located within Pagcor’s Entertainment City, by 2018.
On the sidelines of the company annual stockholders’ meeting, AGI president Kingson Sian said phase 1 of the casino development would include 3 luxury hotels offering more than 800 rooms, a retail component, a theater, and the casino.
Phase 1 will cover less than one-third of the entire 31-hectare casino and resorts development.
“We should be starting construction of phase 1 within the next 90 days and completion should be by 2018,” Sian said.
The opening of Resorts World Bayshore is, however, two years behind the original schedule of 2016.
Sian explained that it was only recently that the property was turned over to the company.
For the hotels development, Sian said the company would bring in Japanese hotel brand Okura and Westin Hotels & Resorts, an upscale hotel chain owned by Starwood Hotels & Resort. The third brand is still being finalized.
Sian said the development of Resorts World Bayshore is being done under Resorts World Bayshore City Inc., which will soon be owned by AGI unit Travellers International Hotel Group Inc.
Resorts World Bayshore will be the fourth casino operator to open in Pagcor Entertainment City.
The first 3 are Solaire Resorts and Casino of businessman Enrique Razon, which opened in March last year; City of Dream Manila of Melco Crown Philippines, which will open late this year; and Manila Bay Resorts of Japanese billionaire Kazuo Okada, which will open next year.
Travellers, a joint venture with Genting Hong Kong Ltd., is also the developer of Resorts World Manila in Pasay City, which is currently undergoing massive expansion program.
AGI is one of the biggest conglomerates in the Philippines, with interests in the food and beverage industry, property development and quick service restaurant operations.
Genting is Malaysia’s leading multinational corporation and one of the best-managed companies in Asia region, operating theme parks, gaming facilities, hotels, seaside resorts and entertainment venues. – Rappler.com