Packer confident of Manila venture

James Packer waved off worries about the regulatory regime in the Phillipines.

James Packer has dismissed concerns over the regulatory regime in the Philippines, saying he is confident in the nation's gaming market, The Australian reports.

Mr Packer's Asian gaming joint venture Melco Crown is constructing a gaming complex at Manila Bay worth $US1 billion. It is one of three new casinos under construction in the precinct (see Cliona O'Dowd's Collected Wisdom).

"At the end of the day (Genting chief executive) KT Lim is up there. The Singapore government has given this a tick from a probity sense. And Singapore has the toughest probity in the world. That gives me confidence," Mr Packer told The Australian.

"And we (Melco Crown) have 100% management control. We know what we are doing and we are not doing anything differently to Australia or Macau."

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