Casino magnate Enrique Razon is one of the 50th richest people in the Philippines, according to the newest ranking by Forbes magazine. The publication’s “Philippines’ 50 Richest” list also included members of the Sy family, who founded gaming investor Belle Corp.
The Sys claimed the top spot, with a collective net worth of US$17.2 billion. The six children of the late Henry Sy—Teresita, Elizabeth, Henry Jr, Hans, Herbert and Harley—are the beneficiaries of business interests including Belle Corp., an investor in gaming that included City of Dreams (CoD) Manila casino resort in the Philippine capital. CoD is managed by a unit of casino group Melco Resorts and Entertainment Ltd. In April Premium Leisure Corp, a unit of Belle Corp, suggested there might be more casino properties in the Philippines under the City of Dreams brand, according to GGRAsia.
Razon occupies fourth place on the list. He is the chairman of Philippines-listed Bloomberry Resorts Corp., which developed and operates the Solaire Resort and Casino in Entertainment City in Manila. His estimated net worth is US$5.1 billion. Bloomberry has plans to develop a second Philippine casino resort at Quezon City, and may bid on a casino license in Japan.
Ranking No. 10 is Andrew Tan, with an estimated net worth of US$2.55 billion. His Alliance Global Group Inc partners with Hong Kong-listed cruise ship operator Genting Hong Kong Ltd. They have joint control of Travellers International Hotel Group Inc., operator of Resorts World Manila at Newport City, near Ninoy Aquino International Airport.
Way down on the list on 22nd place is Dennis Uy, with an estimated net worth of only US$660 million. He is the founder of Udenna Corp., whose PH Resorts plans to build a casino resort on the island of Mactan. The unit is also developing another resort in Pampanga, in the Clark Freeport Zone.
