Gaming | US group and Macau firm propose two casinos in the Philippines

A US investment group and a Macau-based gaming firm are currently in talks with the authorities as they try to attain permission to open two new casino resorts in the Philippines.
According to Reuters, Sino-American Gaming Investment Group, which is controlled by Denver-based consultant RiskWise Group, and Macau Resources Group intend to spend USD1 billion on two casino resorts: one of them in the island province of Cebu; and the other in Napayawan, which is close to a proposed airport.
Francis Hernando, vice president of gaming licensing and development at regulator PAGCOR, confirmed to the news agency that the letters of intention from the groups had been received. However, he said that the Filipino regulator currently has no categorical position on the proposals. “For areas outside of metro Manila, especially in underserved areas, the chances of looking into a casino license would be higher than in Manila,” Hernando said.
Michael Foxman, managing director of Sino-American Gaming, indicated to Reuters that the hotel chain Banyan Tree would take part in the development. The proponents are also negotiating with the Marriott group. Sino-American Gaming have further stated that they have signed on with a Las Vegas partner for entertainment.