Philippine billionaire says new Manila casino will be open next year

Philippine billionaire says new Manila casino will be open next year

Manuel Villar, the Philippine real estate businessman, and listed this year as the second richest Filipino by Forbes magazine, plans to launch a new casino resort complex in the country’s capital, Manila by 2023.

The Gold Coast Entertainment City project construction is near completion, said Mr. Villar in a group interview with local media.

Mr. Villar said, “Yes, it will push through. It is already a big development. We will be launching early next year since the casino has already been built”. He added that about US$1 billion had been committed to the project, which is being developed near the Ninoy Aquino International Airport.

All the details of the project, including its name, partners, and the schedule for opening the casino, would be revealed upon the launch of the project early next year.

The property sector has long been the pillar of Mr. Villar’s business interests. He has a number of companies listed on the Philippine Stock Exchange.

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