A consortium led by agribusiness Calata Corp says it expects to secure a gaming license from state-run Philippine Amusement and Gaming Corp. by the end of 2017 for its P65-billion casino resort in Cebu, local media reports.
Last week, local media reported that Calata teamed up with a US-based investment group and Macau-based gaming operator to create a real estate investment trust for its proposed integrated resort on Mactan Island.
Expected to open in 2020, the 14 hectare development will include three luxury hotels and an entertainment complex featuring a full-scale casino and shopping facilities.
In a reply to an inquiry from the Philippine Stock Exchange, Calata said the project has secured letters of no objection and support from the governor of Cebu, mayor of Lapu-lapu City, business and civic groups and the Catholic church and resolutions of no objection from the city council of Lapu-lapu and barangay council of Mactan, which are required by Pagcor for all gaming projects outside of Entertainment City.
“The target submission of the complete application with Pagcor will be by late October 2017,” Calata said, quoted by The Standard.
Construction is slated to begin in January 2017.