Millennium to develop $300 mil Cebu IR

Millennium Pan-Asia Hotel and Resort Inc. has obtained a Provisional License from Philippine Amusement and Gaming Corporation (PAGCOR) to develop a $300 million integrated resort and casino in Mandaue, Cebu.

The mixed-use development will be located in the heart of Mandaue City in Cebu. It will offer a modern integrated entertainment hub, a world-class casino, as well as a diverse array of contemporary entertainment and leisure facilities, such as, hotels, shopping areas, restaurants, cinemas, and theater.

The project is scheduled to open in the third quarter of 2020, according to the company press release.

Justin Xiao, CEO of Millennium, said he was positive that the new IR will be “a world class entertainment center and most popular place in Cebu.”

Mr. Xiao mentioned that the Project will generate at least 4000 employment opportunities, and boost the tourism and economy in Cebu.

Millennium is also committed to set up a foundation that focuses on the enhancement of cultural heritage as a way of giving back to the community, he said.

More news from this jurisdiction

PhilippinesMonday, Aug 21, 2017

A Chinese casino financier has been arrested for illegally detaining a Korean national who failed to settle his debt, local media reports.

PhilippinesSunday, Aug 20, 2017

Philippines-listed PhilWeb Corp. will be able to operate again after receiving the green light from the Philippine Amusement and Gaming Corp. (Pagcor) to become a service provider, Philstar reports.

PhilippinesThursday, Aug 17, 2017

The opening of Okada Manila hasn’t cannibalized the gaming revenues of Manila’s integrated resorts, with GGR rising 20 percent, 28 percent and 13 percent quarter-on-quarter in 17Q2, according to a note from Morgan Stanley on Thursday.

PhilippinesWednesday, Aug 16, 2017

The Makati Regional Trial Court has issued a writ of preliminary injunction against the Philippine Charity Sweepstakes Office (PCSO) for allegedly violating Berjaya Philippines Inc’s exclusive right to supply and lease lottery equipment in the Luzon territory.

PhilippinesThursday, Aug 10, 2017

The Philippines has avoided further scorn from the Asia-Pacific Group on Money-Laundering following "significant compliance" in tightening their AML regulations.

PhilippinesWednesday, Aug 09, 2017

Philippine technology firm DFNN Inc. saw net profit rise 456 percent year-on-year to P101.8 million over a surge in revenues from its gaming platform business.

PhilippinesWednesday, Aug 09, 2017

The Philippine Amusement and Gaming Corp on Wednesday proceeded with the opening of Casino Filipino (CF) Manila Bay, despite an ongoing dispute over its lease contract.