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Bagong Nayon Pilipino 'interests investors'

A number of high-profile investors have lined up to put money into the proposed Bagong Nayon Pilipino resort casino, it has been revealed.

The Philippine Daily Inquirer reported that SM Investments and Star Cruises are both interested in the gaming facility, which now appears closer than ever to being given the go-ahead, according to Xinhua.

Bagong will not be the first casino to attract Star Cruises attention, with the holiday giant having previously owned a quarter of a $3.4 billion resort in Singapore.

SM Investments is one of the Philippines' largest consortiums, lending the casino's backing a local flavor as well as an international one.

Planned features for the resort include a structure similar to the London Eye in England, the world's largest oceanarium, a number of theatres and a 2,000-room hotel.

It reportedly costs $1 billion and will be built on a 40-hectare plot by Manila Bay.