Alliance Global Group Inc (AGI) is continuing to back growth in Filipino tourism and casino business sectors with plans to build 6,500 hotel rooms. Over the next five years, AGI will construct the rooms that include plans the launch its 2,500-room Resorts World Bayshore project before the year is out. That project is being built under the terms of an agreement they hold with Genting to develop casino business locations in the Philippines.
In a statement, AGI Chairman Andrew Tan stated, “We are extremely bullish about the prospects of the Philippine tourism industry. We have committed substantial resources to build up our capacity and be a major player in this sector.”
The previously launched $345million Boracay Newcoast on the central resort island of Boracay will also see 2,500 of the rooms. The remaining rooms will be integrated into Resorts World Manila with four new hotels being built alongside the three that are already there.
Resorts World Manila is one venture that has gone very well for the two companies and it contributes towards Genting being Asia’s third-largest operator by market value. A place on the podium in the fastest growing market in the global gambling market is no mean feat.
Earlier this year, AGI cited population size and a stable economy as factors that could eventually push the Philippines to be up there with Macau and Singapore in the global casino business market. Manila is already one of the leaders in the online gambling industry and with the growth that is currently going on in the land-based sector it won’t be long until it’s being hailed in the same breath as Macau.