Hann Resorts was established by South Korean businessman Dae Sik Han, who was on vacation in the Philippines when he saw the potential for the former US air base to host a truly world-class gaming complex.
He opened the Widus Hotel & Casino in 2008, starting with 24 tables and 150 slot machines.
The venture was eventually rebranded and expanded to Hann Resorts, which has 960 slot machines, 199 gaming tables, and 40 electronic games, along with hotels like Marriott and Swissotel.
For the planned IPO, Han is in talks with major domestic and international banks to arrange the offer, we're told.
What sets this deal apart is its ability to tap into the South Korean investor base.
“Integrated resorts always have great prospects,” an insider involved in the deal said. “This company has strong connections to a growing Korean population plus proximity to an international airport for tourists.”
Though Metro Manila’s casinos dominate the scene, Hann Resorts is leading a strong gaming presence in Clark. In 2023, it recorded gambling revenues of P11.9 billion, data from state-run Philippine Amusement and Gaming Corp. showed.
For his follow-up act, Han is working on the 450-hectare Hann Reserve in New Clark City in Tarlac. This project will feature an 18-hole championship golf course and the country’s first Banyan Tree luxury hotel.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
