Paranaque casino okayed

A newly formed company has obtained the endorsement of the Department of Tourism to invest P25 billion for the development of a tourism and gaming complex at a reclaimed portion of Manila Bay in Parañaque City. play casino

Manila Bay Tourism and Leisure Corp., a local company identified with Manila Bay Development Corp. and publicly listed casino online bonuses asia gaming firm PhilWeb Corp., has proposed to build a world-class shopping center, restaurant, hotel, china online casino entertainment facilities and casino bonus asia within the Aseana Business Park in Parañaque City.

Manila Bay Development is the original proponent of a project to transform a 43-hectare property in Parañaque into a tourist-oriented complex. It is owned by businessman Jacinto Ng Sr., chairman of Asia casino United Bank and Republic Biscuits Corp. and a close friend of deposed President Joseph Estrada.

PhilWeb, which started as an oil exploration company in 1969, is now mainly involved in Internet gaming. It is identified with investment banker and former trade minister Roberto Ongpin.
In November 2002, the PhilWeb signed a memorandum of agreement with Philippine online asia gambling Amusement and Gaming Corp. over Internet sports betting. It launched its Internet casino business in April 2004.

No details of the project were available as the top official of Manila Bay Tourism was out of the country over the weekend. The Philippine Reclamation Authority, formerly Public Estates Authority, said the project would be located within the planned Pagcor Entertainment City at Aseana Business Park.
The 204-hectare Aseana Business Park, located along the shoreline of Manila Bay, extending northeast to Roxas Boulevard, is envisioned to be the new central business district of Parañaque.

Pagcor plans to develop at least 40 hectares within Aseana Park into an entertainment and gaming center, near the proposed Bagong Nayong Pilipino, which will cover at least 15 hectares. The corporate communications division of Pagcor said it had not yet signed any partnership with a local private investor, like Manila Bay Tourism.
Aseana Park has already attracted locators such as Price Smart, Yellow Cab, One-stop-shop, Aseana Powerstation and McDonald’s. Expected to be completed this year is Neo China Town located in a four-hectare site.

Ma. Victoria Jasmin, director of the Office of Tourism Standards of the Department of Tourism, said Manila Bay Tourism was the second-largest tourism project endorsed in 2006, next to the P44-billion project of the Poro Point Special Economic and Freeport Zone.
The department endorsed P93.77 billion worth of projects in 2006, the highest worth of annual investments committed for the tourism sector since 1992, when the department began monitoring projects it endorsed to the Board of Investments and Philippine Economic Zone Authority for fiscal incentives.

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