The Belle Corp. and Leisure Resources World Corp. (LRWC), owners of a potential billion casino resort on the shores of Manila Bay in the Philippines, last month said they had chosen Asia Pacific Gaming (APG) as the management team to operate the gaming at the property.
The development will be part of a four-casino complex called Entertainment City that has been put together by the Philippines Amusement and Gaming Corp. (PAGCOR). Others committed to build are Aruze, with leader Kazuo Okada, a partner in Wynn Resorts, and Genting bhd of Malaysia, as well as another large Philippine company.
Negros Occidental Rep. Alfredo “Albee” Benitez, majority owner and former president of LRWC, said the group had not decided whether to make APG a strategic partner or simply hire the company to operate the gaming at the Belle Grande Manila Bay. The first phase of the property may open by the fourth quarter of 2011.
It would seem that the more involvement from APG the better. APG leader Ciran Carruthers has vast experience in Australia and Macau. He was most recently the chief operating officer of Galaxy Entertainment, where he got credit for a $600 million bond offering, and helped Galaxy to become the first Asian gaming company to get listed on the Hong Kong Stock Exchange.
The Belle Grande Manila Bay will include two hotel towers, each containing 500 hotel rooms. The first phase of the property will include 100 VIP suites. The casino will have 1,500 slot machines and 250 tables.