PARAÑAQUE | Entertainment City Manila [gov|mix]

[ryanr]

As much as i support development that will provide jobs and benefit the economy, I'm concerned about how Las Vegas type entertainment will possibly increase crime in Metro Manila. Organized crime, corruption, graft and petty crime like theft could be a problem.

Sounds like Wynn is really interested. Good news, since their hotels and other facilities are world class.

[pau_p1]

I tried to search on old threads via google and saw this areal shot of the reclamation area posted by another forumer... heto ba yung site nito? on the left of the boxed picture is Moa and the right is Coastal Mall...

[venntro]

Is it true that the E-city area is even bigger than Singapore itself?

[ryanr]

Absolutely not. Combining the reclaimed area on Manila Bay is probably only 1/20th of Singapore.

Singapore is actually bigger than most people tend to think. It is almost 700 squared km...comparable to NCR.

[athan]

Originally Posted by basti

Here's a pic from the Philippine Star today. sorry at malabo



One full page on Asia's GEM. It mentioned the different parts/phases of this park. I think it said something about a jungle type theme park... I'll check on it again later

Wow! Manila will finally have its own tower! This is gonna be real good for the economy but I'm also worried about the negative effects on security a gambling hub will do to an already unsafe metropolis of 13 million people. It would have been more ideal if it were to be developed in a smaller city like Cebu perhaps..

[venntro]

Knowing the basic concept of a reclaimed area, will it be able to support tall structures? SM MOA also sits on a reclaimed area and because of this, there are restrictions on constructing high rises.

[ryanr]

If done right, skyscrapers can be built on reclaimed areas. Some of Hong Kong's tallest skyscrapers sit on reclaimed land. In fact, a lot of the developed areas of Hong Kong island is reclaimed.

[Lili]

Originally Posted by boybaha

The original Nayong Pilipino was torn down because a) it was a money loser, undoubtedly because after 20 or so years, they never really invested in improvement and b) they needed to build Terminal 2 of NAIA.

Originally Posted by GreyX

and they had to construct additional taxiways to NAIA3.

That's sad. The Nayong Pilipino showcased miniature natural attractions all over the Philippines. A cultural park such as that doesn't need to be money generating.

I hate for the name to be used for a gambling / entertainment development.

[Louman]

I hope it stands a chance against Macao's version of Las Vegas. At least ours will be cheaper to go to. At 10 million visitors a year, I hope that airport terminal nearby gets finished real soon...

[venntro]

Originally Posted by GreyX

If done right, skyscrapers can be built on reclaimed areas. Some of Hong Kong's tallest skyscrapers sit on reclaimed land. In fact, a lot of the developed areas of Hong Kong island is reclaimed.

Good to hear that. The Manila Bay skyline will forever change with the development of E-City

[venntro]

Originally Posted by Louman

I hope it stands a chance against Macao's version of Las Vegas. At least ours will be cheaper to go to. At 10 million visitors a year, I hope that airport terminal nearby gets finished real soon...

The Philippines could offer more... lots more. Aside from casinos, we have our natural attractions which cannot be matched by Macau or Singapore. It will be a matter of packaging. Gaming and entertainment then you could package also a trip to the beach and throw in Medical tourism to boot.

[great184]

Great more gambling... The jueteng lords will be happy for this development

[wynngd]

I'm thinking, if we want to get this built, we need to vote for Chavit.

about the reclaimed area perception, I think it is no longer impossible for us to build tall buildings in reclaimed area. I learned that the tallest building being build right now in Shanghai stands in a swamp. Please correct me if I'm wrong.

[JAMAICUS]

Pagcor’s 'Las Vegas' dream to cost $20B

State firm in talks with Greek, US gaming operator

By Daxim Lucas, Riza T. Olchondra
Inquirer
Last updated 04:00am (Mla time) 03/22/2007


MANILA, Philippines -- The government's Philippine Amusement and Gaming Corp. (Pagcor) has raised its project cost estimate for an ambitious gaming complex -- to be patterned after Las Vegas -- that will rise on reclaimed land along Manila Bay.

Speaking to reporters Wednesday, Pagcor chair and CEO Ephraim Genuino said that as much as $20 billion-- equivalent to 16 percent of the country’s total economic output in 2006 -- would be spent in putting up the “Entertainment City.”

This marks a 33-percent hike over the initial $15-billion cost that was announced when the project was unveiled in 2001. Under the original plan, the investments and project cost would be spread out over a 10-year period.
“The project is a shift [for Pagcor] from gaming into entertainment,[which means not purely casino” Genuino told reporters at the Asian Gaming and Entertainment Plus Leisure Expo Manila. “We will form a Las Vegas in the Philippines.”
The complex, also called Pagcor City, will be built in three phases on 800 hectares of reclaimed land. The first phase will host a hotel-resort and theme park. The next two phases will have retirement villages and entertainment centers.

Separately, however, Pagcor officials said that only “$10 billion to $15 billion” would be spent on the first phase of the project, which would cover between 45 to 65 hectares of the total proposed area.

Genuino said that only 25 percent of the total land area has so far been reclaimed, with the rest to be added as the project gets underway.

Genuino also expressed confidence that the Pagcor City project will not encounter opposition, even from the Catholic Church.

“For us to hurdle opposition to gaming, we will follow Las Vegas,” he said. “I think the Church will understand. We are the biggest income generator for the government, and I think the Church will be mature enough to understand.”

The gaming firm said that it made P25 billion in revenue from casino operations in 2006, almost 10 percent higher than the P23 billion profit it posted in 2005.

The head of the state gaming monopoly revealed that they are already in talks with Greek casino and resort operator Loutraki—a major player in the European gaming industry—for the development of Entertainment City’s first phase.

“We have also spoken with Ceasar’s Palace and Genting,” he said, referring to the US- and Malaysia-based casino operators.

Genuino said 90 percent of the funds for the project will come from foreign investors. Other funders from Japan, Europe, the US and South Korea have also signified interest in financing the project.

Japanese investors, he said, are interested in developing a retirement village within the area for the expanding Japanese retiree market.

He added that Pagcor was working on the technical requirements of the project, with preparatory work scheduled to begin this year. Construction would be completed by 2009.
“The thrust now is not casino gaming but total entertainment,” Genuino said. “In the global arena, only 25 percent of the revenues of gaming destinations such as Las Vegas come from actual gambling.”

He said the Philippines stands to gain substantial tourism revenues by taking an active role in the global gaming industry. He noted that even a conservative country such as Singapore has opened its door to casinos as it realizes the benefits to be derived from the industry.

“With Pagcor City, we will quadruple our tourists to 10 million in five years,” he said. “We hope we can catch up with Singapore and Macau.”

Genuino also said foreign investments in the project will be finalized once Pagcor’s charter is amended to allow the state-owned company to enter into joint ventures with foreign investors.

http://business.inquirer.net/money/t...ticle_id=56280

[likely]

ang daming good news.
cant wait for the ground breaking of the first casino/entertainment complex. hehe

[likely]

eto pala bad news. ewan ko kung ano problema ng mga ito..

House panel asked to probe Pagcor's $20B casino project
03/22/2007 | 12:53 PM

(Update) Two lawmakers on Thursday said they want the House of Representatives oversight committee to investigate the plan of the Philippine Gaming and Amusements Corporation to build a US$20 billion entertainment and casino complex similar to establishments in Las Vegas.

Party-list Rep. Joel Villanueva of the Citizens Battle Against Corruption (Cibac) told GMANews.TV that Congress should not have allowed the passage of a measure extending Pagcor's operations for another 25 years without looking into the corporation's proposed project.

In a separate interview, opposition Rep. Rolex Suplico of Iloilo said the oversight committee chaired by administration Rep. Danilo Suarez of Quezon, must immediately investigate the proposed project "before it produces more serious problems."

Suplico has a pending motion at the House for the recall of the Pagcor measure.

"Parang bagoong ang proyektong 'yan, nakatakip pero sumisingaw ang mabahong amoy (The project is like soused fish that is covered but still reeks of foul smell)" said Suplico.

He said the committee could still conduct investigations even when the House session had already been adjourned.

However, the lawmakers will have to haggle for time considering that public hearings or investigations during congressional break were allowed only with prior plenary consent.

The regular session of the 13th Congress will resume in June, but it will be for just one week. Traditionally, the sessions after an election do not take up substantial issues.

Villanueva, whose party-list organization serves as a watchdog against corruption, also questioned the timing of Pagcor's public announcement of the project that would make the Philippines a gambling mecca.

"It's an insult to the people. It shows the insensitivity of this administration to allow an announcement like that while the country is still licking the wounds of being called the most corrupt in Asia," Villanueva said. "No. 1 na sa corruption, gusto pa maging No. 1 sa sugalan."

"Can't they not attract legitimate investors to the Philippines that is why they are now courting investors in gambling?" the young lawmaker asked.

Once the Philippines becomes an international gambling center, the incidence of graft and corruption, and money laundering will certainly escalate, the congressman predicted. "That can make the Philippines on top, but it is unfortunately on corruption," he said.

A similar project dubbed "Boulevard 2000" was hatched but was not pursued under the leadership of Pagcor chair Alice Reyes during the administration of former President Joseph Estrada. It was supposed to be built on a reclaimed area on Coastal Road in Paranaque City.

Congress rushed the approval of the bill extending Pagcor’s franchise for 25 years on February 20 during a special session that also saw the ratification of the controversial anti-terror bill.

The Pagcor measure gave the state-run gaming corporation the authority to enter into agreements with private companies, including foreign gambling establishments.

Under the new measure, gambling establishments will enjoy tax exemptions as an incentive to prospective investors, both local and foreign.

"If we are against foreign participation in exploring our natural resources and industries, all the more we should not allow them to interfere in our national values," Villanueva pointed out.

Villanueva on Wednesday told GMANews.TV that Cibac would be questioning at the Supreme Court the legitimacy of the House of Representatives' approval of the measure.

He explained that the Constitution requires that measures with provisions on tax exemptions need the vote of a majority of all House members, which is at least 116. At the time the Pagcor bill was called to a vote, there were less than 50 lawmakers present in plenary.

Suplico earlier said Pagcor's franchise is expiring in 2008 yet, but the present Congress seemed to have deprived the incoming Congress to deliberate more extensively on its provisions, including the ambitious US$20-billion entertainment and casino complex.
-GMANews.TV

[allan_dude]

Same post tayo likely... delete ko post ko

Bad news nga yan!!!

Kelangan lang nila ng Lagay para tumahimik sila! hehehe

[pau_p1]

ala.. oo nga suhol lang ang hanap nyan...

this form of gambling will only mostly affect the rich and affluent and not the greater masses... the greater masses may benefit from the income this project will generate.....

hay naku!

[richard24]

a lot of people would benifit from this project... daming jobs ang magegenerate nito... starting palang sa construction hanggang sa mismong operations...

[Sinjin P.]

Originally Posted by GreyX

If done right, skyscrapers can be built on reclaimed areas. Some of Hong Kong's tallest skyscrapers sit on reclaimed land. In fact, a lot of the developed areas of Hong Kong island is reclaimed.

And yeah, the best example would be Dubai