Tiger Resort, Leisure and Entertainment announced it has partnered with a local Filipino firm to develop its Manila Bay Resorts project and build apartments, office towers and an opera house.
The firm, All Seasons Hotels & Resorts Corp, headed by Antonio Cojuangco, will develop the non-gaming portion of the Manila Bay Resorts.
“I can’t match their resources but definitely I want to be part of their group,” Reuters reported Cojuangco as saying after a topping-off ceremony at the Manila Bay Resorts, referring to the investment of Universal.
“The plans for that should start sometime next year because by then, they will be inside the casino finishing it,” Cojuangco said.
In a press release Tiger Resorts, which is controlled by Japanese businessman Kazuo Okada, said Cojuangco – a relative of President Benigno Aquino- is a “strong local partner” who will bring years of experience to the project.
Cojuangco’s involvement will also tick the requirement that 60 percent of land has to be owned by Filipino citizens.
“The plans for that should start sometime next year because by then, they will be inside the casino finishing it,” Cojuangco said, quoted by Reuters.
He also mentioned the possibility of a later listing of the partnership in the Philippine Stock Exchange.
The 44-hectare Manila Bay Resorts will be the third casino-resort to open in Entertainment City, Manila’s scaled-down version of the Las Vegas gaming strip.