International Entertainment will postpone a plan approved by the Philippine Amusement and Gaming Corp. (PAGCOR) to develop an integrated resort in Manila.
The planned resort included 250 gaming tables, 100 junket tables, 1,600 slot machines and 800 five-star luxury hotel rooms. The company attributed the delay in its plan to an increase in Delta variant Covid cases and resulting quarantines.
According to GGRAsia, the agreement encompasses a provisional license to a subsidiary of the company, MSPI, for the integrated resort, with a 15-year license term. PAGCOR and MSPI will jointly operate the facility, with the regulator taking 40 percent of net gaming revenues.
International Entertainment presently leases gaming equipment to PAGCOR at its New Coast Hotel facility in Manila.
