Newport World Resorts operator Travellers International Hotel Group Inc is looking to acquire one or more Casino Filipino properties from Philippine gaming regulator PAGCOR as part of its ambitious expansion plans.
Travellers chairman Kevin Tan confirmed the company’s interest during a panel session curated by IAG at G2E this week in which he also said it remains on track to open its US$1.25 billion Westside City hotel and casino development by 3Q26, as put forward by the project’s former owner Suntrust Resort Holdings.
Tan said Travellers “will open” its Westside project next year after assuming majority control from Suntrust as part of a strategic agreement reached in recent months. Inside Asian Gaming broke the news that Travellers was assuming control of the “LET X” development in early August.
He also detailed Travellers broader expansion plans in the Philippines, which could include more boutique casinos in some of sister company Megaworld Corporation’s 37 townships nationwide and acquisition of one or more Casino Filipino properties from regulator PAGCOR.
“The Philippines has a very, very big population so there is really an opportunity to be able to spread out the opportunities all over the country,” Tan said. “There is no reason why it should be centered just in Metro Manila. That’s why you’re starting to see these small gaming hubs appearing in different parts of the Philippines.
“We’re very bullish on places like Clark, Cebu and also in other tourism hubs around the Philippines like Boracay and Palawan for example – these are all potential areas for expansion for gaming. The key is the right sized facilities for the market but it is a vast market and it’s a huge market and so there are really a lot of opportunities for regional expansion.”
Travellers previously announced plans to build small casinos and hotels within its townships in Boracay and in Mactan, Cebu, each estimated to cost up to US$400 million.
On PAGCOR’s ongoing efforts to privatize its self-operated casinos, Tan said, “There is a lot of determination by this current administration to privatize the PAGCOR casinos. They’ve been talking about this for decades and nothing has been done in the past but this time they are really evaluating each asset and they have already started talking to potential investors.
“There is a lot of interest – we are just one of many – but we really do believe that regional expansion in the Philippines puts us in quite a strong position.
“We are very interested in participating in the privatization because we believe that a few of those locations are actually very strategic to our townships near where they are located.
“We actually have 37 townships all over the country which are master planned communities and each of these townships provides an opportunity to develop hospitality and maybe gaming. It’s really just about us deciding where to go, which markets are promising.”
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