Megaworld Corporation, a subsidiary of Aliance Global Group Inc. and one of the largest property developers in the Philippines, has agreed to invest 261 million dollars (PHP 15 billion) with Winford Resort to build a three-hectare “new integrated lifestyle community” in Manila that will include “residential condominiums, hotels, and commercial developments with a casino complex.”
Metro Manila:
According to Megaworld, this $261 million casino project will be built in the San Lazaro Tourism and Business Park, which was formerly home to a horse racing track that the corporation acquired for about PHP 1.89 billion (32.92 million) at the beginning of the year.
A casino complex, commercial buildings, hotels with apartments for residents, and the “Promenade,” which is expected to “become a major tourist destination in this side of Manila,” are all included in the hotel and Casino Gcash project. Old Manilla, with its pre-war structural designs, served as the project’s inspiration.
“A commitment to revive the old beauty of Manila would be evident in the planned designs of the commercial developments of this community,” said Wilson Sy, first vice president and head of sales and marketing at Megaworld Manilla. The business did not specify whether Metro Manila would require its own regulated gaming license from the Philippine Amusement and Gaming Corp., the country’s gaming authority (PAGCOR).
The company also plans to introduce the 389-apartment One Crown Suites condominium tower as part of the project. Sales from this launch are expected to total PHP 3 billion. But by 2028, it’s expected to be fully operational.
About:
In Manila’s “China Town,” within the San Lazaro Tourism and Business Park, is Winford Resort, also known as Winford Hotel & Casino. While it was founded in January 2016, 2017 marks the official opening.
The Philippine Amusement and Gaming Corp. (PAGCOR) is in charge of running the Resort, which has two floors devoted to slot machines and a third floor with live table games and VIP gambling. APT-branded poker room with a selection of cash games and tournaments is also available.
A self-made billionaire named Andrew Lim Tan is currently in charge of Aliance Global Group Inc., an investment holding company with its main office in the Philippines. The conglomerate operates in a number of sectors, including fast food, liquor, gaming, and real estate development.
A significant developer of condominiums is its subsidiary Megaworld Corporation. Its main objective is to surpass other office landlords in the nation in terms of business process outsourcing.
