The Philippines is getting eyed by plenty of casino companies after reports of their eGame sector getting a boost in revenue. However, not everything is going smooth in the Philippines with casinos. President Duterte is trying to stop the havoc that is happening on one island in the Philippines, which he called a cesspool earlier in the month.
Despite the negative news for casinos, Udenna Development Corporation has some positive news. Udenna Development is going to create a new center , which is in the new central business district. The district is in Clark Global City, which is known as the Clark Freeport Zone. The development is for a ten-year plan to create a large casino and entertainment complex. The UDEVCO project as it is being called will cost $5 billion, which will also help the economy.
One must wonder if issues on other islands are springing up how Udenna is able to plan this investment. Perhaps, like many companies, they are intending to begin with the lesser “evil” entertainment and obtain a casino license when the concept is more in favor. Maybe after President Duterte is no longer in office. These conjectures are simply that and the announcement from media does show that Udenna has permission to begin.
Background for UDEVCO
The project will be 437 acres of land for the casino and entertainment center. According to Dennis Uy, the CEO and chairman, the investment will provide new life, innovation, and business to the area. It is a global business destination that will help economic growth occur outside of Metro Manila. The hope is for the growth to continue across the country.
Clark Global City will offer high-end office buildings, with sports centers, academic locations, and high-end retail markets. There will be a casino and hotel. The entertainment complex will add more casino space if allowed, but an Udenna subsidiary will be behind that part of the project.
The development because of its location will provide an ideal economic, operating, and regulatory environment. It will be 10 minutes from the Clark International Airport. A new terminal is also being built to help with the increase in traffic the area is going to have from the entertainment project.
Uy is looking to hire various developers. They are also in negotiations with different local and foreign companies to try to get more developers and interest in the project. Many of the companies are based in Hong Kong, Tokyo, and Beijing.