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Article: Genting, Aruze to invest in Pagcor project
- Article from:
- The Manila Times
- Article date:
- April 7, 2008
CopyrightCopyright Content Parnership Pty Ltd Apr 7, 2008. Provided by ProQuest LLC. (Hide copyright information)
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STATE-RUN Philippine Amusement and Gaming Corp. (Pagcor) has amassed huge investment commitments from some of the region's biggest leisure and resort players for a project along Manila Bay by this quarter.
On the sidelines of a gaming expo, Efraim Genuino, Pagcor president, told reporters that local and foreign firms would invest $8 billion in the 105-hectare The Bagong Nayong Pilipino-Manila Bay Integrated Tourism City.
The Pagcor official said the biggest investors would be the Genting group of Malaysia and the Azure group, the Japanese partner of casino mogul Steve Wynn, each of which would be spending at least $3 billion.
Both groups aim to start construction by this quarter after ...