The Philippines are ripe for investors like Udenna and Clark’s Widus Hotel and Casino. Clark’s Widus Hotel and Casino will spend $500 million in a casino and hotel expansion for the Philippines location.
The upgrade to the hotel will ensure it is beyond 5-stars. The expansion is set to complete in September 2018. It also means the total investment has increased for the hotel and casino operator since the start of the project.
The president and CEO Daesik Han said the money would help boost the hotel project, which is now $1 billion total in expenditures.
Widus is run by Widus Philippines Inc, which is a subsidiary of Widus International Leisure Inc. The hotel and casino has been open for 12 years, with an initial investment of $4 million. The resort is known as Clark’s Widus because it is in the Clark Freeport Zone. The hotel and casino have s48, 437 square feet for the casino space with 54 gaming tables, and over 300 slots. The new hotel will have 233 rooms, once it is completely remodeled.
Daesik Han told Manila Standard that the company is very happy about the expansion because the local government is making efforts to get more business to the area. The infrastructure is building in the private sector, which will help gain recreational facilities that will keep bringing tourists into the casino and hotel.
Evan McBride, the CIO for Global Gateway Development Corp agreed with Han about the expansion and the government movements to get more business to the area. The company is also behind Clark Global City Business Park, which has 437 acres of land.
Clark Global City
Clark Global City is a revitalization project that is led by Bases Conversion and Development Authority. McBride stated that for a company to come in and invest, it is a good place. Clark Freeport Zone is up and coming in the Philippines and it is the best place to invest right now. With hundreds of millions of dollars being spent, it is a true partnership to make the Philippines a destination.
The efforts by Clark Development Corp, which is a state-run entity, are helping the revitalization occur. Noel Manankill is the CEO and president of the corporation and they are going to spend about $38 million to upgrade the infrastructure for the area, which will include road, transit, and park improvements. The project is following the success of the $19 million put into other Philippines projects.