Philippines OKs First IR outside Manila

Fri, May 12, 2017

The Philippine Amusement and Gaming Corp. and Udenna Corp., owned by Dennis Uy (l.), recently signed a provisional license agreement for what could become the country’s first integrated resort outside Metro Manila.

Could open by 2019

The Philippine government has given a tentative thumbs-up to the first casino resort outside Metro Manila, reports the Daily Tribune.

Dennis Uy’s Udenna Development Corp. plans a US$300 million integrated resort and casino on Punto Engaño peninsula in Mactan Island, Lapu-Lapu City. The development called Lapu-Lapu Leisure Mactan will be built on a 12-hectare (30-acre) beachfront tract 20 minutes from the Cebu International Airport.

Udenna is looking to break ground on the development this summer with the development to be completed in 2022. The casino, retail complex and hotels are scheduled to open as early as 2019.

“Lapu-Lapu Leisure Mactan only marks the beginning of our vision of a world-class leisure, residential and commercial destination in Central Visayas,” said Uy, president and CEO of Udenna. “We see this integrated development taking a major role in bringing the Philippines at par with the region’s premier destinations for leisure, gaming and meetings as well as for commercial and residential investments.”

The Nikkei Asian Review saidUy was one of Philippine President Rodrigo Duterte’s top campaign donors during the 2016 election.

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