A Philippino casino (hey, it rhymes so it must be a good idea) is in development in Manila, and its opening is set to tip the balance of the world’s gambling industry to heavily favour Asia reports The Wall Street Journal. Analysts say this shift of revenue will happen as early as next year, and the Manila casino is aiming to rival Macau and the Las Vegas Strip as a premium gambling destination.
- Manila Bay
Enrique Razon Jr. is the local businessman who’s looking to compete with massive international conglomerates in the casino industry. A port operator that has become a billionaire, he’s invested almost $200 million of his own money towards the casino’s $1.2 billion start-up costs. Although he will have to contend with the Philippines’ bad reputation for poverty, crime and terrorism (which will be quite the leap in and of itself) and lure gambling tourists away from the well-established Asian destination of Macau.
Macau already has five times the annual gambling turnover of Las Vegas, and a casino in Manila is likely to ensure that the next generation associates land-based gambling with the exotic East rather than the dusty Nevada desert.
