The Philippines is a region which has enjoyed a rapid pace of development in the past years and this comes as no surprise since the country is looking for ways to increase the investment in its casino and recreational field. The developer working on Widus Hotel and Casino located in Clark Freeport Zone announced that some additional $500 million would be invested in the company’s project in order to make the location even more attractive.
Over the span of the recent years the casino industry in the region has witnessed a considerable interest and development with visible results. There were even concerns expressed back in September 2017 that the casino industry in the Philippines is rapidly broadening its horizons. Back then Enrique Razon Jr, who is Chief Executive Officer of International Container Terminal Services, Inc. stated that the big interest towards the new gambling hub in Asia could eventually lead to overinvestment since there are many casino operators which are interested in working in the sector.
However, this is simply a possibility in the future and for the time being development is keeping its steady rates. With its recent announcement the casino operator which manages the location made clear its intention to invest some $500 million to the complex in order to make it even more attractive for the customers and guests willing to make their way to the Clark Freeport Zone. This move is expected to boost even more the already booming development in the area which is one of the preferred ones when it comes to new projects.
Clark Freeport Zone is a Preferred Construction Location
It is known for attracting international investors from near and far due to its favorable conditions which encourage development and provide it with the needed infrastructure. In a recent statement Evan McBride, chief investment officer of the Global Gateway Development Corp. stated that all business interactions are being conducted in a transparent manner which makes them preferred ones.
Once this amount of money is invested in the project, the overall sum poured into the Widus Hotel and Casino and other projects of the company would be estimated to some $1 billion. In the foreseeable future, the field is going to welcome a brand new casino resort developed by Widus International which is going to go by the name of Marriott Hotel. The official launch is scheduled for September this year.
The President and Chief Executive Director of the operator Daesik Han stated that developers should make an effort to make the destination an attractive one and make tourists stay for longer in the region with the help of new and improved recreational offerings. Widus International Leisure is the South Korean operator and developer which oversees the management of the casino resort.
Ever since 2008 when the first hotel tower saw its official launch, there has been a lot going on. Shortly after the introduction of the hotel accommodation, there was a casino venue built in 2009. The year 2012 brought a second tower with hotel rooms available for booking. Two years later there was a third tower constructed which brought with itself the introduction of more restaurant offerings, as well as an improved casino venue. Now a fourth hotel tower is well on its way.