The Gokongwei family plans to build an integrated casino resort in Cebu to take advantage of the booming tourism in the province.

The family, through a privately-held company, submitted to Cebu City Mayor Tomas Osmena its proposal to develop an P18 billion mixed-use complex on Kawit Island at the South Road Properties.

Osmena told reporters that the proposed development, which will be in partnership with a foreign group, would include a casino, 1,000 room hotel, convention center, yacht club, water park, and restaurants.

He said the Gokongwei group would formally submit its unsolicited proposal this month.

The Philippines is eyeing a four percent rise in gross gaming revenues this year to P155 billion to P160 billion, driven by warmer ties between the Philippines and China.