Gatchalian group-led Waterfront Philippines Inc. (WPI) is poised to become the fifth integrated casino operator in Pagcor Entertainment City Manila, the country’s version of Las Vegas gaming and entertainment strip.
There are currently three IRs in the designated gaming zone – Solaire, City of Dreams and Okada Manila – with a fourth, Westside City Resorts World, due to open in 2022.
WPI first filed an application to develop the Grand Waterfront Hotel and Casino and deposited US$100 million in cash, as per casino license requirements stipulated by PAGCOR, in 2008.
But despite fulfilling all requirements, PAGCOR failed to respond, with Waterfront eventually filing a petition in 2015 seeking a resolution.
In a decision in August 2017, the Manila Regional Trial Court (RTC) favored WPI and directed Pagcor to issue a license to WPI and to approve the proposal for the Grand Waterfront Hotel and Casino. Pagcor did not raise an appeal within the 15-day reglementary period.
The Court of Appeals upheld the RTC decision in 2018.
In February 2020, the Supreme Court denied the petition of Pagcor for certiorari, citing failure to sufficiently show any reversible error in the judgments of both the Manila RTC and the Court of Appeals.
In October 2020, WPI received notice from its legal counsels that the Supreme Court decision has become final and executory by being recorded in the book of entries and judgments.
The Court of Appeals also made it clear at the time that Waterfront’s license would be “similar to those granted to Resorts World Manila, City of Dreams, Solaire Resort and Casino and Okada Manila.”
