MANILA, Philippines - Vice President Jejomar Binay yesterday said the Las Vegas style Entertainment City project of the Philippine Amusement and Gaming Corp. (Pagcor) will surely attract more tourists and investors once it is completed.
Binay, presidential adviser on overseas Filipino workers (OFWs) concerns, said the project will spur the economy and create employment for millions of Filipinos, many of whom still go abroad to look for high-paying jobs.
“The project will be a big boost to the economy. It will bring investors and visitors and this will provide employment and livelihood opportunities for Filipinos,” he added.
Binay expressed belief that Pagcor’s Entertainment City will also encourage local government units (LGUs) to give priority to their respective tourism development programs, particularly on improving tourist spots.
Attracting foreigners to visit their localities would not only mean additional revenues for the LGUs, but also provide livelihood to local residents, the vice president said.
Pagcor chairman Cristino Naguiat Jr. said they are rushing the completion of the $5-million project, which is expected to create one million jobs annually for local gaming experts, entertainers, performers, artists and service sector staff.
He said the multi-billion gaming and entertainment facility will transform the Philippines into one of the premier tourist destinations in the world.
“A 10-percent share in the $115 billion global gaming pie will give the Philippines $11.5 billion in revenue, making the country an even bigger destination than Las Vegas in terms of earnings,” he said.
Parañaque Mayor Florencio Bernabe earlier said the Entertainment City will be a big source of taxes for the city government.
“It will make Parañaque at par with Las Vegas,” he said.