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Philippine Billionaire Manny Villarink Trades $1B In Casino Development In Manila

Business tycoon Manuel Villar Jr. aims to become the country's new gaming tycoon by forming a $1 billion casino and hotel venture in Las Pinas City in partnership with the Korean group.

Villa declined to name the South Korean casino partner, but he said they had been discussing it for some time and the deal was confirmed.

"We start operations this year or the latest is by the first quarter of next year," the billionaire told reporters in a recent interview.

Considering the size of the tourism market, Korean partners were selected. According to the Ministry of Tourism, Koreans ranked first among foreign tourists to the Philippines as of April this year.

Villar Said To Convert Vista Mall Global South Shopping Mall In Las Pinas To Casino. This will be the first of two game projects in the region.

"It will be a satellite. It's not the body," he said.

Villa said his next casino, likely to be located near the Evian lifestyle hub in Las Pinas, would be an even bigger adventure.

The projects are located within the tycoon's villa city, a 3,500-hectare newborn development project spanning 15 cities and municipalities in southern Metro Manila and neighboring provinces.