MANILA (Mindanao Examiner / Mar. 25, 2012) – The Department of Tourism said it is optimistic that the Philippine Amusement and Gaming Corporation’s multi-billion Entertainment City project will make the country “more fun” to visit and help DOT achieve its targeted 10 million annual tourist visits by 2016.
Tourism Secretary Ramon Jimenez said the mixed-use entertainment complex, which is expected to attract at least one million tourists yearly once it becomes fully operational, will complement the DOT’s programs under the slogan: “It’s More Fun in the Philippines.”
“Any development that involves attracting tourists is beneficial to our program to boost the tourism sector. Pagcor’s Entertainment City will be beneficial to Philippine tourism,” Jimenez said in a statement sent to the Mindanao Examiner.
“Gaming is only one part of the Entertainment City. It will also attract the families of players. There will be a comprehensive package, which includes tourist sites in the City of Manila and other nearby environs,” he said.
Pagcor’s Las Vegas-style facility is expected to generate $10 billion annually in gaming revenues alone, of which 25 percent or about US$2.5 billion will go to the government.
“The Entertainment City will have a big impact on our tourism industry,” Jimenez said.
The Entertainment City is expected to make the Philippines one of the world’s leading gambling destinations, thus resulting in a huge “trickle down” effect to the Filipino people, most especially the poor being helped by Pagcor, according to its chairman Cristino Naguiat, Jr.
Pagcor currently finances many of the government’s social, civic, educational; and environmental projects and programs.
Bureau of Treasury data showed that Pagcor has remitted P11.437 billion to the national government last year, exceeding expectations. BOT said the P11.437 billion signifies a 4.5% over the projections of the Department of Finance.
The increase is also 10.5% higher than Pagcor’s remittance of P10.343 billion in 2010 which was attributed to the growth in income to the improved gaming mix in casinos and enhanced marketing and gaming offerings of its casinos, Naguiat said.
Pagcor operates 13 Casino Filipino facilities and has 4 licensed casinos – Fontana Casino and Fort Stotsenberg in Pampanga, East Bay Casino in Rizal and Poro Point Casino.
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