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|6 February 2010
Philippines: Subic casino upgraded by Korean firm
A Korean firm has started to renovate a group of hotels and a casino
In Subic Bay, Philippines, that used to be operated by Legend International Resorts Limited (LIRL), reported the Philippines Daily Inquirer.
Armand Arreza, Subic Bay Metropolitan Authority administrator, said the hotels, casino and an unfinished facility built by Hong Kong-registered LIRL had been handed over to Philkor Neorex, a Korean firm planning to build the Ocean 9 casino in Subic Bay.
Arreza said the courts had ordered LIRL to vacate the Main Legenda, Grand Legenda and El Centro establishments last month. With the legal battle out of the way, “we can move to begin operations of our own casino,” said Charles Susung Kim, Philkor Neorex president. He said the firm will soon start the training of new personnel.
Kim said the renovation and his company’s planned investment in the next five years would make Ocean 9 the top casino facility in Asia.
“[This is an opportunity to create] a beautiful, distinctive business. If you look at Macau, that place was built for game players only. But here in Subic, there is more variety. The focus here is on family and so the establishments that you see around reflect that,” he said.
Aside from the quality of life in Subic, the airport, golf course and various leisure-oriented establishments in the area add up to “make it very attractive to foreign guests who will come from different countries, especially Korea,” he said.
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