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It was reported last December 12, 2012 that the Okada’s Universal Entertainment and Robinsons Land Corp. separately announced the signing of a basic agreement that would allow the latter to acquire a minority stake in its wholly owned Tiger Resorts, Leisure and Entertainment Inc. At the same time, RLC will acquire a majority stake in Eagle I Land Holdings Inc., the landowner of the project site.
RLC will be responsible for developing the commercial facilities, a budget hotel and residential facilities in the project. The final agreement shall be concluded by Jan. 31, 2013, according to the statement.
With other big projects pursued by Bloomberry and the Melco group in partnership with Belle Corp., Garcia said the Philippines would soon “be a fierce player” in the regional tourism gaming space.
The next gaming hub in Asia is soon to roll. Over the last few years, Singapore and Macau have emerged as formidable gaming hubs in the region.
The announcement did not say how much stake RLC will get in the gaming operations.
Universal Entertainment said the casino resort being developed by the Group would be called “Manila Bay Resorts.” Apart from a world-class casino, it said the major casino resort complex would feature luxurious hotels, upscale restaurants, commercial facilities, a budget hotel, residences, Vegas-style water fountains and an enormous indoor pool with real sand beach covered by a huge glass dome.