“Event
On March 16th Bloomberry Resorts’ Solaire Manila, the first of four giant casino resorts that are to be opened the next four years, started trading in the capital.
Analysis
The resort lies at the heart of the Philippine government’s ambitious plan to make Manila a major gaming hub in Asia, alongside Singapore and Macau.
The government wants to create a Las Vegas-style strip consisting of four casino resorts, Entertainment City, as a key element of its plans to develop tourism as a major industry. It is hoped that an increase in tourism will create jobs and boost incomes, especially in remote areas far from large cities. The government wants to raise tourist arrivals to 10m a year by 2016, from 4.3m in 2012…..”
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