The Philippines is about to see another influx of casinos via its freeport zone authority, the Cagayan Economic Zone Authority (CEZA).

Secretary Raul L. Lambino, administrator and chief executive of CEZA, confirmed last week that four “big” integrated resort and casino operators from Hong Kong, Malaysia, Japan and South Korea have submitted letters of intent to establish integrated resorts in the northern part of the Philippines, the Manila Bulletin reported.

Of the four gaming companies, the Freeport authority has signed a memorandum of understanding with “a big Chinese proponent,” which will invest $500 million to develop Fuga Island into an integrated resort and casino, according to CEZA Senior Deputy Administrator Raymundo Roquero. Fuga Island is the second northernmost island group of the Philippines and falls under CEZA jurisdiction.

Plans for the 10,000-hectare island include the construction of a casino, a hotel, a theme park, theatres, and a $1-million peCr unit villa, among others. CEZA officials said the Chinese investor wants to replicate South Korea’s Jeju Island development in Fuga.