Two New Casinos May Be Added to the Philippines Market
LISTEN TO THIS ARTICLE:Ranked as the second-richest person in the Philippines for 2023 by Forbes, Manuel Villar boasts a staggering net worth of US$9.7 billion. This places him strategically between the illustrious casino-loving Sy siblings and the powerhouse port tycoon Enrique Razon, who is at the helm of Bloomberry Resorts Corp. With wealth and influence at his fingertips, Villar is now eyeing an extensive real estate venture that promises to redefine the metropolitan skyline.
Manuel Villar's Newest Undertaking
The Villar City project stands as a testament to architectural design, encompassing vast terrains of the Philippines. From the streets of Taguig to Tagaytay, it spans 15 communities. The magnitude of this endeavor highlights Villar's dedication to urban transformation.
Related: Philippines Gaming Revenue to Double by 2028, Asserts PAGCOR BossVillar City is an embodiment of modern urban living, crafting spaces that resonate with its inhabitants. A bustling business district, recreational amenities including a theme park, and an academic zone earmark the city's multifaceted approach to urban planning.
Capitalizing on the allure of entertainment, two luxury casinos are on Villar's blueprint. Leading the charge is a $1 billion fund earmarked for the expansive 80-hectare Vista Mall Global South, located strategically in Las Piñas, a jewel of the National Capital Region.
A Fusion of Real Estate, Tourism and Mystery
In a move that's stirring excitement and speculation in the community, Villar alludes to a strategic collaboration with an undisclosed South Korean partner for one of the casinos in the expansive Villar City project. The partnership seems to be rooted in strategy, given the impressive influx of South Korean tourists to the Philippines.
Notably, they made up a whopping 25% of tourist arrivals in the initial months of the year. This showcases their influence in the country's tourism sector.
On another front, Villar is hinting at bigger ambitions. He's dropped teasers about a second casino poised to be situated in Las Piñas. While it's anticipated to be grander and more opulent than the one in Vista Mall Global South, Villar adeptly kept the detailed plans in secrecy.
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