A $1 billion casino resort is opening in the Philippines this weekend, making the country one of the biggest gambling centers in the world, next to Macau, Singapore and Las Vegas.
Researchers are expecting the country's gambling revenue of $1.9 billion to increase to $6 billion within five years, according to Michael French, chief operating officer of the Solaire Resort and Casino. Singapore's two casinos already generate this amount and the Philippines are hoping to match it, the Associated Press reports.
The Solaire Resort and Casino is set to open on Saturday. It will be one of the country's biggest hotel-casino complexes. President Benigno Aquino III will attend the opening ceremony for this big economy booster. Aquino is hoping the casino will help bring in 10 million tourists by 2016.
The pricey resort has 500 hotel rooms, 1,200 slot machines and 295 gaming tables. There are even tables in pricate rooms that have a view of Manila Bay for those who like to raise the stakes. The resort also has eight restaurants, a spa, a night club, and will have a 1,800-seat Broadway-type theater, French said.
Solaire currently has 4,500 employees and there are plans to hire 500 more. About 400 senior officers have worked at casinos in Macau, Singapore and on cruise ships.
According to Fox, French said the hotel-casino will offer an "East meets West" venue, combining "the glitz and grandeur and the sparkle of Las Vegas" and the "Macau experience" of VIP gambling.
Lorraine Koo, vice president for business development, hopes that the casino will draw in international players.
"The Philippines itself is a very attractive tourist destination," she said, according to Fox. "The only issue we might possibly have is we may not be perceived that way. All we need is one chance to be able to show our international players how great the Philippines is."
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