The Subic Bay Yacht Club’s new boutique casino launched recently to help increase the already booming Philippine gambling industry. Located along the Philippines coastline in the Subic Bay Freeport Zone, the club had a soft opening date for a while, but that date was achieved at last with the launch of the new facility on November 11.
The casino is the centerpiece of the newly renovated club. This renovation needed PHP500 million ($10 million) and was built with the purpose of targeting Asia’s growing boating and yachting enthusiasts.
Manuel Antonio Sequeria, who is the CEO and President of Volare Grandezza, one of the firms which partners with Subic Bay in the casino operations, said, “Subic is a safe haven in the boating world, and we have mega-yachts coming in on a weekly and monthly basis to use Subic Bay as their base.”
The club was made to specially attract yachtsmen and boat enthusiasts from around the globe. “We have everything from Russian mega-yachts measuring 200 meters and above to mega-ships coming in from China – the smallest being 3,800 people and the biggest 5,200 guests, which is a huge market,” explained Sequeria.
The Calvinayre website says, the aim of the club was to really act as a bait for people to the casino. The development of the boutique casino was specifically planned with the idea of building a club which would cater to this community, he explained.
The boutique casino is an attractive construction. It launched on Monday with eight tables and 169 slot machines when doors opened. But the number of gaming tables is expected to increase to 43 by December 1. Gaming tables will comprise such standards as blackjack, baccarat, roulette, paigow, and pontoon.
It is expected that the in-house junket operations will begin in January of next year. There are plans to grow the facilities in the region, tempting the international junket operators from across the Asian theater.
There are some features besides gambling which could draw boatsmen to the area. This includes a 2000 meter beach, sensational fishing, and very clean and unpolluted waters. Sequeira explained to Inside Asian Gaming, “The growing market in Asia of people boating, yachting, will bring people here.”
It reaps all of the benefits in terms of taxation since the facility is located in the Clark Freeport Zone. This region is particularly designed to inspire businesses to come to the area and operate because of the no tax policy. It seems that the Subic Bay Yacht Club will thrive due to the opportunity to earn revenue without the worry of taxation.