U.S., Macau firms to spend billion
A casino resort complex at the airport in Cebu, Philippines, broke ground last week. Presiding over the ceremony was Philippine President Benigno Aquino III, according to the Asia Gaming Brief.
Presidential spokesman Edwin Lacierda released a statement saying the project will boost the regional economy and bring in more tourist and business travel, the PhilStar reported.
A new international passenger terminal will be built at the Mactan-Cebu International Airport and an existing terminal will be renovated. The Department of Transportation and Communication said the new terminal will be complete by 2018 and the renovation will be finished in 2019. Together they are expected to increase capacity from 4.5 million to 15 million.
“It will not only cement our place on the global map as a major tourist and business destination, it will boost the local economy and is projected to generate jobs especially in Cebu,” said DOTC Secretary Joseph Abaya.
Earlier this year, Reuters reported that a U.S. company, the RiskWise Group and Macau Resources Group will invest up to $1 billion dollars to develop two new casino resorts in Cebu and on an island in Masbate Province.
