In an ambitious move poised to revitalize the local gaming landscape, billionaire tycoon Enrique Razon is slated to open a state-of-the-art casino in Cavite by 2028. This venture is part of a strategic initiative by the Philippine government, which aims to leverage the burgeoning potential of integrated resorts to stimulate economic growth within the gaming sector.
The revelation came during the Inside Asian Gaming Summit, where Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR), outlined the nation’s strategy. The Philippines is increasingly recognized as a premier destination for tourism and entertainment, which bolsters its unique positioning in the Asian gaming market.
Philippines’ gaming development plan:
Tengco announced that at least six new integrated resorts are expected to be developed under the current administration, enhancing the Philippines’ reputation as a hub for luxury and entertainment. “These projects include a new development in Entertainment City set to launch in 2025, with additional ventures in Cebu and Boracay earmarked for 2026,” Tengco noted, as reported by The Philippine Star (Philstar). Further, a new integrated resort is planned for Clark in Central Luzon by 2027, culminating with the opening of the Solaire Puerto Azul in Cavite towards the end of 2028.
Solaire Puerto Azul will represent Razon’s third major casino enterprise, following the successful launches of Solaire in Parañaque and the $1-billion Solaire Resort North in Quezon City. These developments underscore Bloomberry Resorts Corp.’s commitment to enhancing the Philippines’ gaming and tourism sectors. The Solaire brand has become synonymous with high-quality entertainment and gaming experiences, attracting both domestic and international visitors.
The expansion plans also include the near completion of the Westside City Project by Suntrust Resort Holdings Inc., which is expected to open next year. Additionally, two further integrated resorts are anticipated to commence operations in Boracay by 2026.
“We are exploring potential expansions in Lapu-Lapu City on Mactan and Clark. These projects are still in the planning phase, but they promise to create thousands of new jobs and contribute significantly to economic growth,” Tengco added. These developments are part of a broader strategy to diversify entertainment and hospitality offerings across the Philippines, ensuring robust growth in these sectors.
During the summit, Tengco emphasized that the continued expansion of the gaming industry in the Philippines is driven by three major factors: the introduction of more integrated resort casinos, the solid performance of the electronic gaming sector, and the prospective advantages of privatizing PAGCOR-operated casinos in the future.
Strategic investments and collaborations:
As Asia Gaming Brief reports, in April 2022, Razon’s Bloomberry made a pivotal move by securing a property in Cavite, setting the stage for the development of the Solaire Puerto Azul. This project, necessitating a minimum investment of $300 million, is poised to become a landmark in the region, enhancing the local economy and providing high-quality entertainment options.
The Philippine government’s concerted efforts to augment the country’s integrated resort offerings are indicative of a strategic pivot towards reinforcing the Philippines as a leading global destination for tourism and entertainment. This endeavor not only promises to elevate the gaming sector but also to significantly boost the nation’s economic trajectory.
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