Davao-based Dennis Uy aims to expand its Philippine operations. Earlier this year, Cebu City Council received an application from Udenna Development Corporation (Uy-owned holding company) requesting casino licenses from Philippine Audition and Gaming Corporation (PAGCOR), a Philippine gambling regulator. Authorities have already authorized the construction of a $341 million emerald resort and casino complex on the gambling island, which stretches across Lapaktare 125. 카지노사이트
Regarding the upcoming casino project, Raymondo Martin Escalona, Udenna's director of special projects, explained that the company still needs to get an environmental permit. He added that he expects the company to get final approval before Christmas and move the project forward. Escalona explained that the company is exploring a range of opportunities to fund the project, including initial public offerings and backdoor listings. The Davao-based business has unveiled more companies in its fast-growing business.
The company is expected to announce whether it will run its upcoming casino project through partners or on its own, and Escalona explained that its employees are experienced enough to handle the job and can run the casino without having to hire a partner, but the hotel part of the project is known to be run by Enderan College Hotel management.
Emerald Resorts and Casinos to Boost the Local Economy
The $341 million casino project includes both gambling and non-gambling facilities to attract people with diverse interests. In addition to the planned casino where you can enjoy a variety of games, it also includes a hotel, dining and beverage area. This summer, casino officials celebrated the groundbreaking ceremony. Among the special guests at the event were Philippine Amuse and Gaming Corporation (PAGOCOR) Chairman and CEO Andrea Domingo.
Casino gambling has turned into a profitable industry in the Philippines. The Philippines is gaining huge popularity among Singaporeans, Koreans, and Chinese. According to a Udenna official, the global casino project aims to maximize the potential of Maktan Island, which gives a powerful boost to Cebu's economic growth.