Star Cruises and Alliance Global Group signed this week an agreement to build hotels and casinos in the Philippines. The companies will invest approximately $1 billion on several projects to increase their presence in the Asian continent and the profitable gaming market.

A spokesperson for Star Cruises said that, as part of the contract, the company will purchase a unit of Alliance named Travelers International Hotel Group Inc. This unit is about to obtain a gaming license to develop hotels and gambling complexes in the Philippines’ Newport City, near Manila’s airport.

Also, Star plans to develop together with Travelers a gaming resort in Pagcor City, which will include several hotels with a total of 1,000 rooms, a theme park, theatres, restaurants, casinos and gaming parlors, shops and a variety of convention and cultural centers.

This is not the company’s first incursion in Asia’s leisure market. In 2005, Star Cruises and Genting Company won the bidding for the construction and operation of Singapore’s second casino, an important step in Star’s strategy to become a leader in the gambling world.