Udenna Corp. of businessman Dennis Uy is building a $300-million integrated resort and casino on Punto Engaño peninsula in Lapu-Lapu City, Cebu.
Udenna and state-run Philippine Amusement and Gaming Corp. said in a statement the two parties signed on May 3 a provisional license agreement for the establishment of what could become the country’s first integrated resort and casino outside Metro Manila.
The development called Lapu-Lapu Leisure Mactan will rise within a 12-hectare prime beachfront, six kilometers, or a 20-minute drive, from the airport.
Udenna is looking to break ground for the integrated resort and casino in three months. It targets to complete the development in 2022, with the casino, retail complex and hotels scheduled to open as early as 2019.
“Lapu-Lapu Leisure Mactan only marks the beginning of our vision of a world-class leisure, residential and commercial destination in Central Visayas,” Udenna president and chief executive Dennis Uy said.
“We see this integrated development taking a major role in bringing the Philippines on a par with the region’s premier destinations for leisure, gaming and meetings as well as for commercial and residential investments,” he said.
Listed firm Calata Corp. and its joint venture partners Sino-America Gaming Investments Group Llc and Macau Resources Group Limited also reported plans to build a P65-billion gaming and leisure complex in Cebu in August last year.
Calata’s project to be called Mactan Leisure City is situated on a 14-hectare property located on Mactan Island, Cebu, will have three hotels, casino and entertainment complex, commercial, retail, conference facilities and yacht club.
The project is slated for commercial operations by 2020. The group, however, has yet to secure a gaming license from Pagcor.
Meanwhile, Lapu-Lapu Leisure Mactan will feature iconic modern buildings surrounded by lush greens and infinity pools. It will have a skydiving center on a pier; a retail complex; a convention center; luxury hotels and villas; specialty dining options; private residences; and condominium-hotels.
The development will give residents and guests access to the longest stretch of beachfront in Mactan as well as views of the Hilutungan Channel and the Magellan Bay, making it a premier business and holiday destination year round.
Lapu-Lapu Leisure Mactan will also serve a gateway to a diving, snorkeling, island hopping and watersports.