SM Investments Ready To Invest $300 Million In New Manila Casino Resort

SM Investments has announced plans to invest $300 million in an integrated casino and resort complex north of Manila, in the region of Clark.

Through its subsidiary Premium Leisure and marks a shift in the company’s diversification strategy, as the landlord of City of Dreams casino-resort in Manila, operated by Nasdaq-listed Melco Resorts and Entertainment, SM Investments is now poised to further cement its position as a key player in the country’s growing gaming and hospitality landscape.

The decision to establish the new integrated casino-resort in Clark, a former U.S. military air base turned into a leisure and business hub, is a strategic move by SM Investments. Located in the province of Pampanga, has been steadily emerging as a promising growth market for gaming and leisure activities.

The Philippines’ gambling sector, which ranks second in size only to Macau and Singapore in Asia, has been a significant draw for high-rollers from countries like China, Japan, and South Korea. This trend has not gone unnoticed by SM Investments, as the company recognizes the immense potential of Clark to become the next major integrated resort hub in the country.

The gaming regulator’s recent announcement of Hann Resort’s planned initial public offering (IPO) of up to 20 billion pesos ($342.2 million) in early 2023 further underscores the growing appeal of Clark as a premier gaming and leisure destination. Hann Resort, which currently operates a casino-resort with 147 gaming tables and 868 slot machines in Clark, is poised to capitalize on the region’s burgeoning reputation.