Okada's Tiger Resorts partners with Cojuangco's All Seasons

Tiger Resorts Leisure and Entertainment on Thursday confirmed a partnership with All Seasons Hotel and Resort Corporation, a company led by businessman Antonio “Tonyboy” O. Cojuangco, over what it claims as biggest casino and resort complex in the Philippines.

 

“We are very happy and excited that we are finally fulfilling our vision of developing a huge and integrated world-class entertainment property in the Philippines," said Japanese businessman Kazuo Okada, chairman of Tiger Resorts parent Universal Entertainment.

 

"This is just the beginning of that vision,” he added.

 

Through the partnership with All Seasons, known for its hotel, golf course, and restaurant developments, Tiger Resorts said it has acquired a valuable local partner for its Philippine project.

 

“Cojuangco is the right partner to help Tiger Resort in catering to the Filipino people and establishing business partnerships that will help position the property as the entertainment destination of choice in Manila,” the company said.

 

The $2-billion complex, to be dubbed as the “Jewel in the Crown,” is expected to open next year in a 40-hectare property in Entertainment City Manila.

 

The Jewel in the Crow will encompass a 30,000 square meter casino with some 500 game tables and 3,000 slot machines as well a man-made beach with an indoor glass dome 100 meters in diameter.

 

The complex also includes a hotel with two 15-story towers connected by a sky bridge. 

 

Once fully operational, the complex is expected to employment of around 8,000, the firm said.

 

“All preparations are underway and our whole team is working hard in ensuring that everything gets finished properly and on-time,” Okada said.

 

In an emailed statement, Universal Entertainment said it has passed a board resolution appointing Deutsche Securities Inc. as placement agent to a planned fund raising to finance it casino resort in the Las Vegas-style Entertainment City.

 

“The final size and pricing of the notes will be decided based on investor demand, but is initially estimated to be between $600 million and $900 million,” the statement read. – Jon Viktor Cabuenas/VS, GMA News