CEO: Creating “a premier destination”
Philippine-listed Filinvest Development Corp. and a subsidiary have been granted a provisional gaming license from the Philippine Amusement and Gaming Corp. to develop an integrated resort in the Clark Special Economic Zone.
According to GGRAsia, the project will be branded as “Filinvest Mimosa + Leisure City. Along with a casino and a five-star hotel, the complex will include a mall and a performance venue on a 201-hectare (497-acre) site.
In a filing to the Philippine Stock Exchange, the developers disclosed plans to renovate the non-gaming Quest Hotel, two golf courses and some villas. Filinvest Development stated it will make a “minimum investment” of US$200 million for the project.
“Now that we have secured the provisional license, we foresee further upsurge in tourist arrivals upon completion of the various project components. It is our intention to work with a leading casino operator who will align with our vision of a premier destination,” said Filinvest President and CEO Josephine Yap.
She said the IR “is envisioned to become the lifestyle destination north of Manila. Its enviable location close to Clark International Airport makes it accessible to both domestic and international tourists.”
Filinvest Development is the holding company of the Filinvest Group, a conglomerate led by the Chinese-Filipino Gotianun family. In January 2016, Filinvest Development and its Filinvest Land Inc. unit were awarded a 50-year lease on the land parcel by the Clark Development Corp.
