Manila takes aim at casino boom

The two most richly valued companies in the financial and consumer discretionary sectors in Southeast Asia share two things in common - both are controlled by Filipino tycoons and both are building casinos by the azure waters of Manila Bay.

The lofty valuations of Bloomberry Resorts Corp at forward price-earnings ratio of 37 times and Belle Corp at 73, show the size of bets being laid on the Philippines' ambition to join Macau and Singapore among the ranks of Asia's top gaming destinations.

via Business feed http://www.scmp.com/business/companies/article/1113827/manila-takes-aim-casino-boom