Philippines’ tycoon to launch €900 million casino resort???

Jenny Ortiz July 17, 2024

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Philippines’ tycoon to launch €900 million casino resort???

Manuel “Manny” Villar Jr., the richest man in the Philippines and a former Senator, is set to enter the gaming industry with the launch of his first casino resort in mid-2025. This initiative is part of a substantial $1 billion (€917 million) investment plan. According to a recent interview with local media The STAR, Villar confirmed that construction is progressing as scheduled, with the casino located in the revamped Vista Mall Global South along the C5 Extension in Las Pi?as.???

The casino resort plan was finalised in August 2023 when the business tycoon sealed a partnership with a Korean group, which Villar declined to name. The new casino will be situated near the Brittany Hotel Global South, formerly known as the Mella Hotel Manila, also owned by the Villar Group. This proximity is expected to streamline the opening of the integrated resort. Villar mentioned that the structure is largely complete, and the plan is to convert the mall into a casino, aiming for a launch in the latter part of next year.

In April, real estate mogul Villar emerged as the only Filipino in Forbes Magazine’s top 200 billionaires in 2024. Forbes ranked Villar at 190th in this year’s list, up from 232nd in 2023, as his wealth grew 28 percent to $11 billion (€10.08 billion).?His political debut happened in 1992 when he won a seat in the House of Representatives, and he later run and win three terms in the Philippine Senate.?

While specific details like the casino’s name, and the number of gaming tables and rooms are still being decided, Villar is confident about the project’s potential. He indicated that the basic framework is ready, although the exact configuration of the gaming facilities remains to be finalised.

Competitive edge and plans??

Addressing potential competition from the established Entertainment City in Para?aque, Villar emphasised the strategic advantage of his casino’s location. He noted that the new casino would be closer to Ninoy Aquino International Airport Terminal 1, the main international airport serving Metro Manila, providing easier access for visiting players, particularly those involved in casino junkets.

Beyond the initial casino, Villar also talked about plans for a second property within Villar City, a vast 3,500-hectare mixed-use development that spans 15 towns and cities in Metro Manila and Cavite. Villar City is envisioned as a comprehensive urban hub, featuring an amusement park, an arena capable of hosting international concerts, schools, cultural centres, museums, hospitals, universities, churches, and nature parks.

To enhance access to Villar City, the Villar Group, through Prime Asset Ventures Inc. (PAVI), recently acquired the four-kilometer Muntinlupa-Cavite Expressway (MCX). This acquisition, along with other major thoroughfares like Daang Hari, is expected to significantly improve connectivity to the development.

Securing casino licence??

The Villar Group secured its casino licence in 2018 just before then President Rodrigo Duterte issued a moratorium on new casino licences to prevent an oversupply. In 2021, Duterte lifted the moratorium, enabling the group to move forward with its casino projects.

Villar’s entry into the gaming industry represents a significant diversification of his business portfolio. His ambitious vision for Villar City and the casino resorts is set to transform the area, potentially attracting both local and international visitors. As he steps into the gaming sector, Villar’s strategic planning and substantial investment underscore his commitment to creating a major new hub for entertainment and leisure in the Philippines.

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