The Philippine Clark casino industry is about to undergo a significant expansion. Dae Sik Han, founder and chairman of Hann Philippines Inc., announced that its subsidiary, Hann Holdings Inc., will launch an IPO worth 11.8 billion pesos (approximately 207 million USD) on the Philippine Stock Exchange to drive the expansion of the Clark resort and the development of the new project "Hann Reserve".
In an interview with One News, Dae Sik Han stated that to avoid financial issues affecting progress, he decided to sell part of his shares to accelerate financing. "I can earn less, but I cannot afford to slow down the development pace."
Hann Resorts has already invested over 50 billion pesos in Clark, and the upcoming "Hann Reserve Phase I" will be located in New Clark City, covering 450 hectares. The plan includes three 18-hole championship golf courses, the first PGA-certified training center in the Philippines, a five-star hotel, a commercial district, luxury residences, an international school, and a brand-new casino. The first golf course is expected to open by the end of the year.
Currently, gaming revenue accounts for 85% of Hann Group's revenue, but Han hopes to create a differentiated advantage through golf and natural experiences. "I don't make money from the golf course, but from the high-quality customers it attracts."
Furthermore, Hann is creating an "omnichannel" model that integrates online and offline, launching a remote gambling platform and pioneering it in the Clark casino. Faced with potentially tightening regulations, Han stated he is well-prepared, emphasizing that the group's development will encompass an integrated experience of gambling, golf, and Korean culture.
"The IPO is just the beginning," said Dae Sik Han, "Our goal is to make Clark the most valuable high-end entertainment destination in Asia."
