Gaming regulator Philippine Amusement and Gaming Corp. (PAGCOR) has formally granted Universal Entertainment Corp. subsidiary Tiger Resorts Leisure and Entertainment the much-needed extension to complete its $2b integrated casino-resort in Entertainment City.

PAGCOR Vice-President for Gaming Licensing and Development Francis Hernando confirmed the approval for timetable changes in Manila Bay Resorts project, pushing back the deadline to Dec 31, 2016.

The approval also means that the Tiger’s casino license is not suspended.

During a House committee hearing on Monday, Hernando said that Tiger Resorts has complied with the requirement set during the conditional approval, which was given in June. The requirements include the reinstatement of a PHP100 million bond ($214m), payment of over PHP30 million in penalties, improvement in the company’s corporate governance policies, and proof that the company has the financial resources to bankroll the development of the integrated resort.