Philippines’ Udenna Corp has secured a provisional license to build a US$300 million integrated resort casino in central Philippines, local media reports.
The country’s gaming regulator has been inviting investors to build casino-resort projects outside the capital to accelerate growth in the gambling and tourism sectors.
Udenna Corp., a holding firm owned by Dennis Uy is planning to start construction of the Lapu-Lapu Leisure Mactan within three months. It secured a provisional license from Pagcor on Wednesday this week.
Located in Cebu, the resort will feature iconic modern buildings surrounded by lush greens and infinity pools. It will have a skydiving center on a pier; a retail complex; a convention center; luxury hotels and villas; specialty dining options; private residences; and condominium-hotels.
“Lapu-Lapu Leisure Mactan only marks the beginning of our vision of a world-class leisure, residential and commercial destination in Central Visayas,” said Uy, president and chief executive officer of Udenna.
“We see this integrated development taking a major role in bringing the Philippines on a par with the region’s premier destinations for leisure, gaming and meetings as well as for commercial and residential investments.”
The proposed integrated casino-resort will be built on a 12 hectare beachfront property, around 6km from the international airport.
It is scheduled to open as early as 2019.