Billionaire Villar secures $1B casino venture with Korean Partners in Las Pi?as

Sandra Junnikkala August 17, 2023

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Billionaire Villar secures $1B casino venture with Korean Partners in Las Pi?as

Manuel Villar Jr., a prominent business magnate, is poised to step into the world of gaming and entertainment as he embarks on a ground-breaking project in Las Pi?as City. Teaming up with a dynamic Korean consortium, Villar’s vision materialises into a dazzling $1-billion casino and hotel complex.

Villar eludes to grandiose culminations on the horizon

Renowned as both a Filipino business magnate and statesman, Manuel Villar Jr. has left an indelible mark on various domains. As of 2022, his financial eminence placed him at the zenith of Philippine wealth, with an estimated net worth exceeding $8.3 billion. *(Credit: bworldonline.com)*

The identity of the Korean counterpart remains shrouded in secrecy, yet Villar hints at the culmination of extensive deliberations that have paved the way for this significant partnership. With the deal now firmly established, a new era of entertainment is on the horizon.

“We plan to start operations this year or the latest is up to the first quarter of next year,” the billionaire shared with journalists during a recent interview.

Opting for a Korean collaborator was a strategic move, driven by the allure of their robust tourism industry. Notably, Koreans ranked as the top contributors to foreign tourism in the Philippines as of April this year, a testament to their penchant for exploration.

Villar enthusiastically revealed plans to transform the Vista Mall Global South shopping complex in Las Pi?as into a vibrant casino hub. This endeavour marks the inception of a series of gaming projects, the first of a dynamic duo set to grace the locale. He noted that this will be a satellite, not the main body.

Nestled within the expansive canvas of Villar City, a burgeoning 3,500-hectare undertaking that spans across 15 urban locales in the southern expanse of Metro Manila and its neighbouring provinces, these ventures take root.

“Villar City is the undertaking of a lifetime. I probably don’t even think I can finish it [while I’m alive]. It’s too big,” he said.

From gaming ventures to iconic landmarks

In the grand tapestry of Villar’s vision, the mosaic includes not only these gaming ventures but also a visionary indoor arena, a captivating theme park, and a prestigious golf course.

These ambitious plans extend beyond entertainment, encompassing housing, commercial epicentres, hospitality havens, and office edifices. The comprehensive development roadmap is projected to unfold over the span of several decades.

Unfazed by the ebb and flow of the property landscape, this luminary, the architect of Vista Land & Lifescapes Inc., holds a steadfast optimism for the industry. A conviction unwavering despite the ripples caused by the entrance and gradual departure of Philippine Offshore Gaming Operators.

“It’s still too early for the Philippines in terms of our state of development,” Villar said.

Charting the uncharted: the SiGMA Balkans/CIS Summit

Renowned for its global networking prowess, SiGMA Group is shifting its focus to the Balkans this upcoming September. Preparing to leave an indelible impression, the SIGMA Balkans/CIS Summit is set to unfold in the scenic backdrop of Limassol, Cyprus.

Envision a tapestry of networking avenues and avant-garde insights as this highly anticipated occasion approaches. Spanning three eventful days within the dynamic cityscape of Limassol, the summit is poised to showcase a dynamic itinerary inclusive of engaging panel dialogues, illuminating keynote addresses, captivating start-up presentations, and a myriad of other enriching encounters.