Philippine business tycoon Manuel Villar Jr has dropped plans to engage a foreign partner in developing and running two casinos in Las Piñas, in the southern part of Metro Manila.
According to a report by local media outlet InsiderPH, Villar confirmed that there was “No more partner, it’s just us” in comments made while attending a recent event by Colliers Philippines.
Inside Asian Gaming previously broke the news that Villar had partnered with South Korean-facing junket operator Dowinn Group for the dual casino project.
However, a recent decline in the Philippines’ VIP segment and the collapse of Dowinn Group – since reborn under new leadership – have played a part in altering Villar’s plans.
“When you enter that kind of business, you have to think long-term,” he told InsiderPH.
The two casinos are to form part of a new master planned mixed-use estate called Villar City, with the casino projects alone to cost around US$1 billion. The first of the two casinos will be built on the 18,000 square-meter shopping complex Vista Mall Global South and has been envisioned to target international high-rollers as well as local players. It is unclear if it will revert to primarily focusing on locals now that Dowinn is not involved.
Either way, Villar said the Vista Mall Global South casino – located close to hotels, commercial centers and housing developments – was nearing completion.
“The structure is finished. It’s a mall that I converted. We own the land, we own the structure,” he said.
Asked who would run the casinos without the aid of a partner, Villar added, “We need to have [experienced people], we’re getting a General Manager.”
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