Chinese group reveals $100-million integrated resort scheme, eying Growth to the Philippines Cagayan Special Economic Zone
A Chinese group has expressed interest in building a $100-million casino hotel in the Philippines’ Cagayan Special Economic Zone, despite President Rodrigo Duterte’s veto on the building of new gaming venues around the nation.
The company has revealed plans to build a Jeju Island-inspired resort with a gambling floor, theme parks, and quite a few other amenities.
According to the Chinese category ’s website, its activities include bulk commodity trade, logistics, and customers clearance services, amongst others. But, it is not clear whether the company is involved in any other tourism jobs.
In its statement, CEZA stated that the group has been looking into a tourism destination that matches the appeal of South Korea’s Jeju Island, which will be home to several integrated hotels, including ones that contain casino centers.
As stated earlier, the most recent wave of President Duterte’s crackdown on gaming includes a ban on the building of new casinos in the country. It is yet to be seen how the Philippines’ top official will respond to the information of a possible new casino project.
Past Cagayan Casino Resort Reports
It appeared back in July that four international companies had filed letters of intent to CEZA expressing their interest in building an integrated resort in the special economic zone.
The executive also said that three of the firms had pitched $100-million jobs, while the fourth had introduced a strategy for the development of a $500-million integrated hotel in Cagayan. The names of these firms were not disclosed back afterward.
Mr. Lambino said in July the CEZA’d 55,000 hectares of land available for growth and that besides a casino center, any new hotels should also have hotels, entertainment centers, and food and drink options.
In its Monday statement, CEZA explained that Jucheng has also expressed interest in expanding its footprint throughout the financial zone through multiple other, non-gambling, operations. For instance, the company has revealed plans to engage in Cagayan’s fintech industry through a commerce and exchange operation using the rapidly growing blockchain technology.
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