Packer to invest in Philippine casino

Australian billionaire and gaming tycoon James Packer is expected to invest $1.5 billion in a hotel and casino resort on Manila Bay in the Philippines.

A deal between Packer and the Philippine Amusement and Gaming Corporation (PAGCOR) is thought to be confirmed within the next couple of weeks.

PAGCOR, the government-run body that regulates gaming in the Philippines, hope to transform 120 hectares of reclaimed land on Manila Bay into a gaming resort to rival nearby Macau.

As well as Packer’s interest, Aruze Corporation (Japan), Genting Group and Star Cruises (Malaysia) and SM Investments (Philippines).

Editor, Jackpot.co.uk - 2008-06-16 10:58:05




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