SBMA to Propose Casino Property to Korean Firm

Subic Bay Metropolitan Authority (SBMA) is offering a Korean company that wants to build a hotel and casino here.

David Maund, a liquidator appointed by a Hong Kong court in 2006 to bring back Legend International Resorts Ltd. (LIRL) to profitability, told the Philippine Daily Inquirer in a phone interview from Hong Kong last week that the SBMA suddenly changed its approach in dealing with LIRL.

The SBMA has offered LIRL's properties to Neorex Philkor Inc., a Korean company that tried to build Ocean 9 hotel-casino at a tree park here last year.

SBMA Administrator Armand Arreza confirmed that Neorex had been assigned LIRL’s properties. He said a lease contract with the Korean company had been approved by the SBMA.

The Subic Bay Metropolitan Authority (SBMA) blockaded the hotels and a casino that a Hong Kong-based company is operating so it could offer the property to a Korean company that also wants to build a hotel and casino here, the firm’s liquidator said.

A lease contract with the Korean company had been approved by the SBMA.

If the project will be pushed through, another set of job opportunities will be opened for the public. Written by Loren - MyBataan