MANILA, Philippines - Riding high on the country’s improving economy and a growing high-roller market, the consortium of Belle Corp. and Leisure Resorts World Corp. is scaling up the size of its planned $1-billion world-class integrated entertainment resort by more than 35 percent as it seeks to make the Philippines one of the largest gaming markets in the world.
Belle vice-chairman Willy N. Ocier said Belle Grande Manila Bay’s total floor area will be expanded to 301,000 square meters from the original plan of 220,000 square meters, envisioned to become the largest integrated casino resort in the Philippines.
Ocier said the total capital expenditure for the first phase of Belle Grande Manila Bay is $750 million.
Slated for a soft opening in the second half of 2012, Belle Grande Manila Bay will have a total gaming area of 19,626 square meters with 350 gaming tables and 1,900 slot machines. The first floor will cater to the mass market while over 6,000 sqm of space will cater to VIPs.
Ocier said Belle Grande Manila Bay will provide guests with a full suite of amenities, including six hotel towers with approximately 1,000 rooms, including 86 luxury suites targeted by the fourth quarter of 2013.
Of the six towers, two will house 159 rooms and 86 suites with the first tower which will be an all suites hotel targeted toward the VIP market and junket gaming customers. Tower 2, on the other hand, will be a four or five-star hotel targeted towards the mass market gaming customers with 159 rooms.
The remaining four will comprise condotel towers with 466 units (Belle Grande Suites). These units may may be sold to investors and placed in a pool to be managed by the company/hotel operator. Buyers can can avail themselves of eight to 10 free nights at the resort in addition to a share of the rentals received.
Belle said casino revenues are expected to be realized when it opens in the second quarter next year.
“We are very excited by the performance levels in Macau and Singapore. We hope to attract a broad base of customers from around the world,” Ocier said.
While Macau remains by far the region’s largest casino market, other Asian countries are putting up gambling parlors to help lure more tourists and grow their economy. Earlier reports said Singapore’s tourist arrivals hit an all-time high of 11.6 million in 2010, thanks partly to its casinos.
An expected growth in the number of Asian multi-millionaires and middle class following the region’s sharp rebound from the economic slump is seen to drive regional travel, including people flocking to casinos.
Analysts said Asia could overtake the United States to become the world’s biggest legal casino gaming market by the end of 2012.
“We aim to generate thousands of jobs in the tourism sector and for Filipinos working in the hotel and gaming industry abroad,” Ocier said.
Belle wholly owns Premium Leisure & Amusement Inc. (PLAI), which was granted a provisional license by the Philippine Amusement & Gaming Corp. (Pagcor) to establish and operate a casino within the area.
Macau-based gaming consultancy firm Asia Pacific Gaming (APG) will provide management expertise. It has extensive experience managing casinos and hotels in South Korea, China, Macau, Australia, New Zealand, Vanuatu, Tahiti, and the US.