The official Philippine News Agency has issued a report saying that four international operators are vying to develop casino resorts in the Cagayan Special Economic Zone, overseen by Cagayan Economic Zone Authority.
CEZA Chief Executive Raul Lambino said the office has received letters of intent from companies in Japan, South Korea, Malaysia and Hong Kong. He did not identify the companies, but said the investments range from US$100 million to US$500 million. Some 55,000 hectares (135,907 acres) are open for development.
