Philippine-listed casino operator Waterfront Philippines Inc. has earmarked a total of PHP1.65 billion (US$32.6 million) for the facelift of its four properties, including the firm’s three casino hotel.

In a disclosure to the Philippine Stock Exchange, Waterfront announced that it is embarking on a major renovation of its facilities as it targets to increase its revenues by 10 percent.

First in the list of its planned renovations is the Waterfront Cebu City Hotel and Casino. Waterfront estimated that the cost of the renovation of its Cebu hotel, which will start in early 2018, is PHP400 million (US$7.9 million).

As for Waterfront Airport Hotel and Casino Mactan, the firm has allocated PHP450 million (US$8.8 million) for the renovation program. Works are forecast to begin in mid-2018.