(Source: Inside Retail Philippines | 26 September 2016)
The giant Okada Manila integrated casino resort is on track to open by Christmas.
Its developer, Tiger Resort, Leisure and Entertainment Inc, says the 44ha project’s 21ha stage 1 will include two Y-shaped hotel towers with nearly 1000 rooms, 8409 sqm of luxury retail space, 21 food and beverage outlets, a 41,000 sqm casino floor, a 3000 sqm spa and an indoor nightclub and beach club.
In a briefing late last week, Tiger Resorts president Steve Wolstenholme said 80 per cent of the construction was now complete on phase 1.
Phase 2 will be primarily retail with a broader range of shops planned. The remainder of the project remains in planning.
Okada Manila is largely being funded by gaming tycoon Kazuo Okada who has invested US$2.4 billion in phase 1. An estimated 8000 jobs will be created initially, operating casinos, F&B, hotel and retail facilities.
Wolstenholme said Tiger Resorts is committed to a “long-term” investment in the Philippines.
“We know we’re here in the long term. We see long-term growth here. It’s a $2.4-billion investment in the first phase, and we have confidence it’s a worthy investment.”
He said the Philippines, with a strong 7 per cent growth rate, offered the greatest potential right now for the company globally.