Deal to create Philippine version of Las Vegas strip signed

Rappler.com

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The Sy group has formally entered into an agreement with casino billionaires James Packer and Lawrence Ho to build Entertainment City, a US$1-billion gaming venture in Manila. Entertainment City is the integrated tourism and gaming complex of state-run Philippine Amusement and Gaming Corp. (Pagcor) that will rise on a reclaimed area along Manila Bay and near the Manila airport. The cooperation agreement makes Belle a co-licensee and owner of the resort project with Melco, while Melco will be co-licensee and operator of all of the project’s facilities. The deal between Belle and Melco will not only boost the competitiveness of the gambling industry in Manila, where the government is hoping to create the Philippines’ version of the Las Vegas Strip.


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