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Philippines set to open $1B casino-resort

[March 14, 2013]  MANILA, Philippines (AP) -- Officials of a $1 billion casino resort opening in the Philippines this weekend say the country will become one of the world's biggest gambling centers.

Michael French, chief operating officer of Solaire Resort and Casino, said Thursday that studies project the country's gambling revenue of $1.9 billion will rise to $6 billion, which is currently what Singapore's two casinos generate, in about five years.

Solaire opens Saturday as one of the country's biggest hotel-casino complexes in ceremonies to be attended by President Benigno Aquino III.

It has 500 hotel rooms, 1,200 slot machines and 295 gaming tables, including those in private rooms for high rollers.

It's the first of four such developments in the $4 billion Entertainment City being built on a 100-hectare (247-acre) property reclaimed from Manila Bay.

[Associated Press]

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