PAGCOR approves Tiger Resort's new dev't plan

Tiger Resort Leisure and Entertainment Inc. on Thursday said it received the approval from Philippine Amusement and Gaming Corp. (PAGCOR) for an updated project implementation plan of a casino complex.

 

In effect the state-controlled PAGCOR extended Tiger Resort's March 2015 deadline to complete its project in teh Las Vegas-style in Entertainment City.

 

"The extension was granted given the increased scope and scale of the development, which promises to be the “jewel in the crown” of Entertainment City," according to Tiger Resort, an affiliate of Japanese tycoon Kazuo Okada's Universal Entertainment Corp.

 

"The expansions in the design and scope of the project called for an increase in investment, requiring an additional $700 million (P31 billion). The improvements will include an additional 97,000 square meters of gross floor area, covering two hotel towers with a sky bridge, making the striking property an even more iconic showpiece in the Metro Manila skyline," Tiger Resort noted in a statement.

 

The company expects to employ over 8,000 people once the resort complex is fully operational.

 

Last May, PAGCOR announced it has confiscated a P100-million guarantee payment of Tiger Resort and threatened to cancel its permit because of delays in its casino project. – VS, GMA News