Megawide Construction Corporation, in the Philippines, has reportedly abandoned a scheme that was to see it partner with local trading and shipping firm, Udenna Corporation, in order to bring a new casino resort to the central island of Mactan.
Airport augmentation:
According to a Sunday report from the Manila Standard newspaper, the Quezon City-headquartered construction firm had earlier revealed that it was in negotiations to build the envisioned casino resort on a 9.8-acre site located next to Mactan-Cebu International Airport. This facility was to purportedly sit alongside a new terminal it opened a year ago in collaboration with India’s GMR Infrastructure that features approximately 64,580 sq ft of retail space.
Hotel hotspot:
Manuel Louie Ferrer, Chief Corporate Affairs and Branding Officer for Megawide Construction Corporation, declares this scheme has now been cancelled, although he revealed that the firm is still planning to bring a trio of luxury hotels offering some 1,000 rooms to the same site. The executive purportedly stated that the first of these is to be a 350-room affair that he expects will open within the next two years and be by run by an international partner.
Ferrer reportedly told the Manila Standard…
“We will soon sign an agreement with an international hotel operator to manage the hotel. There is a huge demand for hotel development in Cebu as well as for meetings, incentives, conferences and exhibitions, particularly in Mactan.”
Ferrer moreover told the newspaper that his firm is hoping to tap an Asian operator to run the second of its envisioned Mactan hotels with the third to be managed by one of its own local brands.
Emerald arrangement:
Regarding Udenna Corporation, GGRAsia reported that the Davao City-based firm controlled by Filipino businessman, Dennis Uy, is continuing with a plan that is to see it open the first stage of its planned $600 million The Emerald Resort Hotel and Casino by the end of next year. This Philippines facility will be located on Mactan’s nearby Punto Engano peninsula and feature 400 hotel rooms as well as a casino offering a collection of some 600 slots and about 100 gaming tables.
Financing future:
All of this comes after Udenna revealed in May that it was to make a second run at raising enough cash to build The Emerald Resort Hotel and Casino via its PH Resorts Group Holdings Incorporated subsidiary. It purportedly proclaimed that this privately-held concern was prepared to borrow up to $420 million in advance of securing the remaining amount by issuing equity in the coming project.
The legal status of online casinos in India is complex and varies by state. While there is no federal law that explicitly addresses online gambling, the legality depends on state regulations and the type of gambling involved.
Key Points:
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No National Law: India does not have a specific national law regulating online casinos. However, the Public Gambling Act of 1867 prohibits operating physical casinos and gambling houses, but it doesn't cover online platforms, leaving a legal grey area for online gambling.
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State-Specific Laws: Some Indian states, like Goa, Sikkim, and Daman, have legalized land-based casinos, and others, such as Sikkim, have also licensed online gambling. Many states have banned gambling altogether, including online gambling.
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Online Sports Betting: Betting on sports, particularly cricket, is very popular in India. However, it's only explicitly legal in some states like Sikkim and Nagaland, which have laws permitting online gaming and betting.
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Legal Gray Area: Many international online casinos accept Indian players and operate legally under licenses from offshore jurisdictions (like Curacao or the UK Gambling Commission). As long as players are gambling on licensed platforms, the risk is minimal, but local authorities may still choose to regulate or restrict online gambling.
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Cryptocurrency: Some Indian players prefer using cryptocurrencies (like Bitcoin) for online gambling, as it provides a layer of anonymity and security.
While online casinos aren't explicitly legal across all of India, many international casinos accept Indian players, and online gambling continues to grow in popularity. Players should ensure they use licensed platforms and understand local laws before engaging in online gaming.
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