Pagcor (Philippine Amusement and Gaming Corp.) recently signed an agreement with Clark Development Corp. to build a high-level international casino and other tourist projects in the commercial district of Clark Freeport. Both companies are expected to invest about 197.1 million dollars in the project.
CDC President, Levy P. Laus and Efraim C. Genuino, CEO of Pagcor, said the joint venture includes a high-quality casino, a five-star hotel, restaurants and resorts in a 13.5 ha land. “We expect to hire more than 2,000 workers, once the project is operative,” Laus added. “We hope the project helps to develop a casino strip in the Clark district.”
In 1991, the commercial district in Clark Freeport became a first-class tourist destination and in 2007 it was declared a duty-free zone, which made it the preferred spot for local and international investors interested in projects related to tourism.
Pagcor is a corporation owned and controlled by the Philippine government, created in 1977 by a presidential decree. The corporation regulates games of chance in the country and currently operates 13 casinos, 8 VIP clubs and 3 slot machine venues. Pagcor also regulates more than 180 bingo halls and employs 11,000 people.
Source: MediaGambling
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