CASINO

Andrew Tan joins Okada, Gokongwei in three-way Manila casino partnership

TAGs: Alliance Global, Andrew Tan, entertainment city, john gokongwei jr., Kazuo Okada, Philippines

andrew-tan-okada-gokongwei-manila-casino

(l-r) Tan, Okada, Gokongwei

Following Friday’s report that Universal Entertainment chairman Kazuo Okada was in talks with the Philippines’ third-richest man John Gokongwei Jr., to partner on Okada’s $2b casino project in the 100-hectare Entertainment City Manila complex, a third party has elected to join them at the table. The Philippine Star reports that Andrew Tan’s Alliance Global Group will join Gokongwei’s Robinsons Land Corp as Okada’s local partners, controlling a combined 60% stake in the joint venture. Okada’s Tiger Resorts will control the remaining 40%.

Philippine Amusement and Gaming Corp (Pagcor) chairman/CEO Cristino Naguiat told the Star that Alliance Global would handle the land development aspect of the 40-hectare project, while earlier reports suggested Robinsons Land would handle gaming and retail operations. The project is expected to open its doors to the public in Q4 2014.

The move gives Tan an expanded presence in Entertainment City, where Alliance Global is already building its own $1.1b, 31-hectare Resorts World Bayshore casino under the banner of Travelers International Hotel Group (Tan’s joint venture with Genting Hong Kong). Travelers already operates the Resorts World casino near Pasay City’s Ninoy Aquino International Airport. The other two Entertainment City casino projects are Bloomberry Resorts’ 16-hectare Solaire Manila and the Belle Grande joint venture of Belle Corp and Melco Crown Entertainment. Naguiat says Solaire is expected to be the first of the projects to open its doors in Q1 2013, while Belle Grande will welcome its first visitors at the end of 2013.

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