Palace defends casino in Manila Bay reclamation area

MANILA, Philippines - Malacañang on Thursday defended the $10-billion casino and resort complex at the Manila Bay reclamation area, saying the benefits far outweigh the disadvantages as many poor Filipinos stand to benefit from the proceeds. Press Secretary Ignacio Bunye also said the Catholic Church's objections over the establishment of the casino is “not new." “This is not new. We have heard those objections before but we know the operations have helped a lot of people. As a matter of fact, there are many people going to my office seeking help for their families and we have helped a lot of people using this fund," Bunye said. He said people must look at the “total picture" and at how the funds are being utilized. “For as long as they are being utilized properly, for as long as they are able to help the Filipinos, then we believe we can justify the operations," he said. On the Church's criticism that the project would turn Manila into the Las Vegas of Asia, he said: “I'm not the guardian of morals." “We would like to see the total picture, we would like to weigh the benefits against the disadvantages. The way we see it, the benefits far outweigh the social costs," he said. He said the operations of the casino and resort can “help sustain the social programs of the govt and deliver basic services to the Filipino." The Philippine Amusement and Gaming Corp. (Pagcor) has approved the project proposals for the Las Vegas-like Bagong Nayong Pilipino-Manila Bay Integrated City of Japan’s Aruze Corp., Genting Berhad of Malaysia, SM Investments Corp. and Australia’s Bloombery Investments Ltd. Actual development of the 90-hectare resort complex is expected to start in the third quarter of the year. Under Pagcor's terms, companies with approved proposals must invest at least $1 billion for their projects, with the initial $400 million coming in the first two years. Azure Corp. proposed the development of the Okada Resort Manila Bay, an integrated casino resort with 2,000 standard rooms and 300 VIP suites. Its main features would be the world's biggest oceanarium, theaters and a giant Ferris wheel similar to the London Eye and to be called the “Manila Eye." Genting Berhard, with its partners Star Cruises and Alliance Global Group Inc., (AGI), plans to build several hotels with a minimum room capacity of 2,000 rooms and a world-class theme park. The company owns and operates the Genting Highlands Resort in Malaysia. Publicly traded Alliance Global is in talks with Star Cruises Ltd. for a joint venture to develop a $1-billion integrated leisure and resort within the Bagong Nayong Pilipino Manila Bay Integrated City Project. Star Cruises, the world’s third-largest cruise operator and an affiliate of the Malaysian conglomerate Genting Group, is interested to acquire up to 40 percent of Travellers International Hotel Group Inc., a wholly owned subsidiary of AGI. Travellers International will serve as the vehicle for participating in the government’s ambitious plan to put up the multibillion-dollar integrated tourism zone. SM Investments Corp. proposed to put up a gaming facility in partnership with Asia- Pacific Gaming of Australia, and a major luxury hotel to be managed by Radisson Hotels & Resorts at the Mall of Asia Complex side of the Manila Bay Integrated City. Bloombery Investments Ltd. is planning to build three luxury hotels with a total capacity of 1,500 rooms, with high-end retail shops, celebrity-themed dining, and a major entertainment and sports center. The resort facility is expected to raise the country's gaming revenues by at least 30 percent once it becomes fully operational in 2010. It is also expected to boost foreign tourist arrivals by up to 3 million individuals annually, and generate over 250,000 fresh jobs. - GMANews.TV