It has been claimed that a local hotel and casino operator, Waterfront Philippines Incorporated, has been given permission to continue through with its intention to bring a new gambling-friendly facility to Manila's Entertainment City zone. The property in question is intended to be located in Manila.
According to a report published by Inside Asian Gaming, the sanction for the company with its headquarters in Manila was issued after the Supreme Court of the nation rejected an appeal that had been filed by the Philippine Amusement and Gaming Corporation (PAGCor), the country's gaming regulator, in January. The source detailed that this state-run organization was purportedly attempting to reverse a decision made by the Court of Appeals in 2018 that had given Waterfront Philippines Incorporated the okay to build and operate its envisioned Grand Waterfront Hotel and Casino venue within the 1,976-acre zone. The decision had awarded Waterfront Philippines Incorporated with the okay to build and operate the venue.
According to reports, Waterfront Philippines Incorporated is already in charge of managing the Waterfront Cebu City Hotel and Casino, Waterfront Manila Hotel and Casino, and Waterfront Airport Hotel and Casino properties in the Asian nation of the Philippines. The company is also said to have submitted an application for the Grand Waterfront Hotel and Casino license as far back as 2008. Even though the casino company had supposedly met all of the requisite application standards, including the deposit of a $100 million cash security, the casino company was still still stuck in limbo since PAGCor repeatedly refused to answer to any of its inquiries.
Reportedly in an effort to speed up the procedure, Waterfront Philippines Incorporated filed a lawsuit in 2015, and a regional trial court ruled in its favor around two years after the case was initially heard. The casino company then reportedly prevailed in front of the Court of Appeals, where PAGCor was further compelled to pay the casino company roughly $4,130 in moral and exemplary damages.
According to reports, Waterfront Philippines Incorporated has declared that the denial handed down by the Supreme Court has now "become final and executory." This will allow the company to move forward with the construction and operation of a venue that will be comparable in size and scope to the already existing properties of Solaire Resort and Casino, City of Dreams Manila, and Okada Manila. In addition, the Resorts World Westside City development that is being planned by Megaworld Corporation is expected to join these large concerns as early as the year 2022. Meanwhile, rival operator Landing International Development Limited is reportedly still in discussions regarding an Entertainment City home for its own envisioned NayonLanding enterprise.
According to a statement that was reportedly read, Waterfront Philippines Incorporated...
Once the epidemic is over, the granting of a casino license will have a positive impact on our company's business and operations.
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