Corporate News

Alliance Global finalizing plans for 2nd Resorts World casino-resort

Posted on October 04, 2016

ALLIANCE GLOBAL Group, Inc. (AGI) is looking to finalize the blueprint of its second integrated casino-resort by June next year.

“The master plan would be finished maybe by the first half of next year,” AGI President and Chief Operating Officer Kingson U. Sian told reporters, in a mix of English and Filipino, after an annual stockholders’ meeting on Sept. 29.

AGI, in partnership with Malaysia’s Genting Group, is developing 31 hectares of the state-owned Entertainment City in Parañaque into a leisure and entertainment township called Westside City.

In November 2015, the company of billionaire Andrew L. Tan announced that subsidiaries Megaworld Corp. and Travellers International Hotel Group, Inc. have allocated P65 billion to develop the property.

Travellers International, a partnership between AGI and Genting, currently operates Resorts World Manila in Pasay City. It intends to build a similar development within the 31-hectare estate in Parañaque City.

AGI had targeted to complete Westside City by the last quarter of 2020.

AGI is tweaking the master plan of its property within the eight-square kilometer reclaimed area of the Manila Bay Entertainment City to offer unique attractions and, thereby, ride on the competition, Mr. Sian noted.

The second Resorts World property in the Philippines will be the last integrated casino-resort development to rise within the Philippine Amusement and Gaming Corp.’s Entertainment City.

Two casinos currently operate within the property, envisioned to become Asia’s Las Vegas-like entertainment complex. These are City of Dreams Manila by Melco Crown Philippines (Resorts) Corp. and Solaire Resort & Casino by Bloomberry Corp.

Tiger Resorts, Leisure and Entertainment, Inc., meanwhile, will open by yearend the casino and hotel components of the first phase of Okada Manila, which spans a total of 44 hectares. The development boasts of a two-hectare dancing fountain and an indoor beach club, among others.

Shares in AGI closed two centavos or 0.13% lower at P15.88 apiece on the Philippine Stock Exchange on Monday. -- Keith Richard D. Mariano