Gambling Spreads

The Philippines is on track to compete with Macau and Singapore as one of Asia’s gaming capitals.

The Solaire Resort and Casino on Manila Bay, which opened for business this month, is the first of four gambling venues that will collectively be called Entertainment City.

Covering 18,000 square meters comprising 300 gaming tables, 1,200 slot machines and a huge VIP lounge, the casino cost $1.2 billion to build. Live music is also available. The resort boasts 55 guest rooms, suites and villas, as well as 15 restaurants and other eateries.

Gambling in the Philippines is regulated by a public corporation that was established in 1976. While there are already a dozen or so casinos in the country, Solaire is the first that can compete internationally with the most famous gaming resorts.

It was developed by a publicly traded company called Bloomberry, which is owned by billionaire Enrique Razon, Jr.