Razon's Bloomsbury taps Las Vegas firm for planned casino complex

MANILA, Philippines - Port magnate Enrique K. Razon’s Bloomsbury Investments has tapped the services of Las Vegas, Nevada-based Global Gaming Asset Management (GGAM) LLC for the hotel and gaming operations of its proposed integrated casino resort complex at the Entertainment City complex in Parañaque.

GGAM is a group composed of former executives who managed major resorts in the United States and Asia, including Las Vegas Sands Co. and City of Dreams Integrated Resort/Casino in Macau.

According to Bloomsbury, the first phase of its hotel and casino should be up and running by October 2012. The project, covering an area of 8.3 hectares, features a five-star hotel, casino and gaming facilities, state-of-the-art meeting and convention venues, high-end retail and fine dining outlets, and health and wellness facilities. Total investment in the long-term is expected to reach $1 billion.

Presently, retail, dining and entertainment areas are being expanded to complement the complex’s offering of a first-class resort experience.

Aside from attracting local and foreign tourists, the project is expected to generate some 5,000 jobs and boost the country’s ancillary service sectors.

Bloomsbury’s casino resort complex forms part of the Entertainment City project of the state-run Philippine Amusement and Gaming Corp. (Pagcor) encompassing 120 hectares of prime reclaimed land at the southeastern portion of the Manila Bay, and is seen to rival leisure hubs in the region such as those in Macau, Malaysia and Singapore.

The three other firms given licenses to develop the complex are Alliance Group Group Inc., which teamed up with Travellers International Hotel Group, the consortium of Belle-Leisure Resorts World, and Japan’s Azure Group.

PAGCOR is the Philippines’ third largest revenue contributor after the Bureau of Internal Revenue and Bureau of Customs. A government owned and controlled corporation, it is the sole government agency mandated to regulate and operate games of chance, to issue licenses, and to enter into joint venture, management, or investment agreements with private entities. – With Mary Ann Reyes