Dennis Uy, 44 year old Filipino entrepreneur, is pushing forward with his ambitious casino plans. Uy has gaming resort constructions firmly on his mind which is exactly the opposite position to President Rodrigo Duterte. Duterte, who Uy supported during his election battle, has his mindset fixed on blocking such ventures.
Presidential Opposition
Despite presidential opposition, Uy’s plans have received the countries Securities and Exchange Commission’s approval. Uy would like to transform the shell listed company Philippine H2O Ventures into PH Resorts Group Holdings. This is a recognised channel which can amalgamate resorts and casinos. With this play Uy will be able to bypass mandatory regulations, such as track record and profit accountability, to list the company.
Two New Casino Resorts
Uy’s plan is for his new company to manage his tourist sector ventures. This includes casino resorts in:
• 1. Cebu
• 2. North of Manila at the Clark Freeport Zone.
Making a Few Waves and Catching Attention
Uy, who chairs PR Resorts, is enthusiastic to explore all sectors of tourism which he believes will lead to increased opportunities for shareholders. When Duterte, took his presidential seat in June 2016, Uy upped his own business strategies with the implementation of an aggressive business plan but this is his first venture into the gambling world. He’s also moved into logistics, hospitality, restaurants, and the local corner convenience stores Family Mart. Globally he’s working closely with China with telecom and oil and gas ventures.
Bringing Duterte into the Game?
Whilst it’s all systems go for Uy he needs to find a way to bring Duterte, who’s on record as saying he hates gambling in August of this year, on board. In the past, he’s turned down plans to build casinos from China-based companies who thought they’d succeeded with all the red tape after securing the relevant licences.
All eyes are now on what happens next with Duterte and Uy!
