Philippine billionaire plans 2 new casinos in Manila area

The person who won second place in Forbes’ list of “The 50 Richest People in the Philippines 2023” plans to own two casinos in a huge real estate initiative he is developing.

Manuel Villar’s latest gaming project in the country is for a 3,500-hectare (8,649-acre) venture called Villar City in Metro Manila. Local media reported this week that at least one of them will have an as-yet-unidentified Korean partner.

Mr. Villar did not name his Korean casino partner, but he reportedly said that the conversation was extensive and that the deal was done.

The Korean partner was selected in consideration of the market’s contribution to tourism in the Philippines. According to data from the Ministry of Tourism, Koreans topped the list among foreigners who visited the Philippines for seven months from January this year, accounting for a quarter of all arrivals.

Mr. Villar told reporters that his business empire had set up a casino plan worth more than $1 billion within the 80-hectare Vista Mall Global South Shopping Project in Las Pinas, southwest of the National Capital Region. The Vista Mall Global South is located in the city of Villar.

He also added that the second casino, which will be located in Las Pinas, will be much bigger than the one in Vista Mall Global South. No further details were provided.

According to Forbes, Mr. Villa has a net worth of $9.7 billion, just behind the Sy siblings, an existing Filipino casino investor, and right behind Enrique Lajon, a port entrepreneur who leads the casino business Bloomberry Resorts Corp.

Villa City’s master plan includes a central business district, theme park, university area, and two casinos.

Villarsi spans 15 communities, including Taguig, Laspinas, Paranake, Muntinlupa, Baku, Dasmarinas, Imus, San Pedro, Mariano Alvarez, Silang, Trias, Tanja, Trece Martírez, Carmona and Tagaitai.

BY:, 슬롯머신

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