Manila sets US$300m tag for new casinos outside capital
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THE Philippines is open to issuing gambling licences outside the capital of Manila and plans to require the minimum investment for new casinos at about US$300 million to ensure world-class properties are in provincial cities and towns, its gaming regulator said.
"There are areas which I think are very ripe for a casino," Cristino Naguiat, chairman of the Philippine Amusement and Gaming Corp, said in an interview, declining to disclose those locations. The agency is "open to giving out a casino licence if it can help boost economic activity and if the people in the area want it. We're developing a template to ensure that no one would be granted a licence unless an investment commitment is made."
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