Good morning. Philippine billionaire Manuel Villar Jr. is aiming to set up a fifth integrated resort in the nation’s capital, with a $1 billion investment, saying the project will rival the size of Solaire. And Okada Manila has announced a strong comeback in 3Q22 GGR results, topping $170.78 million, boosted by mass play. South Korea’s Paradise and GKL also saw strong yearly returns for November. And in Macau, the junket law is set to head for final approval on December 15th.
What you need to know
- Philippine billionaire Manuel Villar Jr. is planning to develop a fifth integrated resort in nation’s capital, investing $1 billion in the project.
- Okada Manila posts $170.78 million in 3Q22 GGR results, boosted by mass, despite the three-month takeover of property by former founder.
On the radar
- S. Korea’s GKL and Paradise see strong November GGR increases y-o-y.
- Macau junket law set for final reading and approval on December 15th.
- Economist: Macau concessionaires investing $1.7 to $2.84 billion.
- Macau COVID cases visited casinos, new entry requirements.
AGB Intelligence
PHILIPPINES
PH billionaire plans $1 bln resort in capital, same size as Solaire
Philippine billionaire Manuel Villar Jr. is planning a $1 billion integrated resort in the nation’s capital, expecting the project to rival the size of Solaire. The project is expected to be finished by next year, and follow the Las Vegas model, focusing on mass. Villar is currently searching for a foreign partner for the project and accepting offers from VIP promoters.
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