News Summary: Philippines set to open $1B casino

YOU BET: The Philippines hopes to join Macau, Singapore and Las Vegas as a gambling mecca when it opens the Solaire Resort and Casino this weekend.

HIGH ROLLER: The $1 billion project could be an economic bonanza. Studies project the country's gambling revenue will rise to $6 billion from $1.9 billion in about five years.

JACKPOT: The Solaire, the first of four such developments in the $4 billion Entertainment City being built on land reclaimed from Manila Bay, features 500 hotel rooms, 1,200 slot machines and 295 gambling tables, eight restaurants and eventually a 1,800-seat Broadway-type theater.