- A $300-M resort-casino will soon rise in Lapu Lapu City in Cebu
- A Davao-based holding company has been granted a provisional license to develop the project
- The project is expected to be completed by 2022 but some parts of the development will open as early as 2019
MANILA, Philippines – Cebu province could be the new home to the first-ever privately owned casino outside Metro Manila; this after Philippine Amusement and Gaming Corporation (PAGCOR) released the provisional license for the building of the $300-M resort-casino in Lapu Lapu City.
PAGCOR has recently granted the license to Udenna Corp., a Davao City-based holding company owned by businessman Dennis Uy. The project has been dubbed as ‘Lapu Lapu Leisure Mactan’.
Uy said ‘Lapu Lapu Leisure Mactan’ marks the beginning of his company’s vision of a world-class leisure and commercial destination in Central Visayas.
“We see this integrated development taking a major role in bringing the Philippines on a par with the region’s premier destinations for leisure, gaming and meetings as well as for commercial and residential investments,” said Uy.
The project will rise on a 12-hectare (29.6-acre) beachfront property which is about six kilometers from the airport.
Udenna Corp. has targeted completion of the development by 2022, but the casino, retail complex and hotels will be opened by 2019.
The project will include construction of luxury hotels, villas, private residences, convention center, commercial complex and a skydiving center.
According to ABS-CBN News, Udenna Corp. is one of the top contributors to the campaign funds of President Rodrigo Duterte last election.