Pagcor planning development of P750-B recreation center

The Philippine Amusement and Gaming Corp. (Pagcor) plans to build a P750-billion Disneyland-style "Entertainment City" in the reclaimed area along Roxas Boulevard in Manila and Pasay City.

Pagcor chairman Efraim Genuino revealed the plan during a hearing by the House committee on legislative franchises on the state gambling firm’s application for a 50-year franchise.

Rep. Juan Miguel Zubiri (Lakas, Bukidnon), committee chairman, said he is inclined to endorse the application since 80 percent of the planned entertainment center will be developed into a theme park and areas for recreation.

He said only 20 percent will be devoted to gambling facilities.

"But if Pagcor can do it, it should develop the entire area as a recreation center similar to Disneyland," he said.

Pagcor’s franchise application is contained in Bill 4238 authored by Rep. Prospero Nograles (Lakas, Davao City).

Nograles said the state firm’s franchise is expiring in six years and needs a new congressional authority to venture into theme park development so it can attract local and foreign investors.

He said the trend worldwide among huge state and private gaming or gambling agencies is to go into developing entertainment centers.

"That is why Las Vegas is no longer known only for gambling. It is a family vacation destination since it has theme parks and other recreation areas," he added. – Jess Diaz