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Philippines – Waterfront Philippines looking for casino partner following Supreme Court licence ruling

By - 3 November 2020

Waterfront Philippines (WPI), operator of Waterfront Cebu City Hotel & Casino, Waterfront Airport Hotel & Casino and Waterfront Manila Hotel & Casino, is searching for a partner for a new integrated casino hoping to take shape in Manila’s Entertainment City.

Already home to Solaire, City of Dreams and Okada Manila, with Westside City Resorts World, scheduled to open in 2022, Waterfront is hoping that the Supreme Court’s ruling that PAGCOR should give it a casino license was conclusive.

Waterfront said: “In response to the disclosure on the Supreme Court decision pertaining to the granting of the company’s casino license, the company has received several congratulatory messages from foreign casino groups. However, given the COVID situation, prospective investor groups are still studying the Philippine business climate and the financial dynamics of the proposed project in the ‘new normal.’ It is in this light that the company continues its selection process for investment partners for the Grand Waterfront Hotel and Casino.

“The company remains optimistic about the recovery of the Philippine economy and believes that the travel, gaming and hospitality sectors will continue to play a major role in determining the growth,” it added. “The company also believes that the selection process for strategic partner will play a crucial role in making the project a success, and as such, will exert the best efforts in the selection process.”

WPI wants to transform the Grand Waterfront Hotel and Casino into a resort casino. The Supreme Court said its licence should be ‘similar to those granted to Resorts World Manila, City of Dreams, Solaire Resort and Casino and Okada Manila.’

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