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Okada to pursue PH casino project

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Kazuo Okada AP FILE PHOTO

The group of Japanese gaming magnate Kazuo Okada regrets an aborted partnership with Century Properties Group Inc. (CPG) but still intends to pursue its casino project in the Philippines with the goal of starting business by the third quarter of 2015.

Posted: April 2nd, 2014 in Latest Business Stories | Read More »

Pagcor remittance hits record P21.2B in 2013

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Pagcor chairman and  chief executive officer Cristino Naguiat  INQUIRER file photo

The Philippine Amusement and Gaming Corporation’s (Pagcor) reported on Thursday its “highest recorded” remittance to the government in the amount of P21.20 billion last year.

Posted: January 30th, 2014 in Latest Business Stories | Read More »

Melco prepares $340M back-up credit facility for PH gaming unit

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Casino dealers work on their respective games. AP File Phone.

The Melco Crown group of Macau is preparing a back-up credit facility worth as much as $340-million for its Philippine gaming unit in case a previously announced private debt offering isn’t completed as intended by the end of January in 2014.

Posted: December 26th, 2013 in Latest Business Stories | Read More »

Okada group in final stages of casino property deal

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The group of Japanese gaming tycoon Kazuo Okada may be able to finalize in the next few days a property deal with local partners, thus addressing the foreign equity limit on land where a $2-billion gaming and entertainment complex will rise.

Posted: December 15th, 2013 in Headlines | Read More »

Fact-finding report on alleged $5M Okada bribe to be in soon—DOJ

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doj logo

Justice Secretary Leila de Lima is expecting the submission within this month of a report on the allegations that a former consultant of the Philippine Amusement and Gaming Corporation (Pagcor) got a $5-million bribe from Japanese investor Kazuo Okada for favors related to the government’s entertainment city project.

Posted: June 10th, 2013 in Latest Business Stories | Read More »

Japan set to take casino gamble

Casino dealers work on their respective games. AP File Phone.

A group of Japanese lawmakers are close to hitting the jackpot in their bid to legalise casinos, betting the revenue bonanza could challenge Macau for the title of global gaming powerhouse.

Posted: June 9th, 2013 in Latest Business Stories | Read More »

Casino tycoon Stanley Ho buys stake in HK budget airline

Stanleyho2006

Asian casino tycoon Stanley Ho’s transport company is buying a stake in a budget airline that Qantas and China Eastern Airlines are setting up in Hong Kong, the companies said Thursday.

Posted: June 6th, 2013 in Latest Business Stories | Read More »

SMC to begin constructing 7-km expressway linking NAIA terminals to casino

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Presidential spokesman Edwin Lacierda.  DZIQ photo

San Miguel Corp. will begin constructing within June, a 7.15-kilometer expressway project that would link Ninoy Aquino International Airport’s three terminals with a casino complex, hopefully, by 2015, according to Malacañang.

Posted: June 5th, 2013 in Latest Business Stories | Read More »

Pagcor generates P107B in revenue

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pagcor-logo

After barely three years since the new leadership took office in 2010, the Philippine Amusement and Gaming Corporation (Pagcor) has generated over P107 billion in gross revenue, it said on Wednesday.

Posted: June 5th, 2013 in Latest Business Stories | Read More »

15 days after opening, Bloomberry Resort Corp. earns P578.3M revenue

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solaire

Gaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenues in the first 15 days of operation of Solaire Manila Resort & Casino, the first entertainment complex to open in Pagcor City.

Posted: May 16th, 2013 in Latest Business Stories | Read More »

Robinsons Land readies P30-B office project in C5

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Gokongwei-led Robinsons Land Corp. (RLC) is finalizing plans for a new multibillion-peso office complex near the Ortigas business district but its top official was mum on efforts to break into the gaming sector through a partnership with controversial Japanese billionaire Kazuo Okada.

Posted: April 20th, 2013 in Headlines | Read More »

Aquino opens mega casino in bid to join gaming elite

President Beningo "Noynoy" Aquino III lead the opening ceremonies of the Solaire Resort & Casino in Parañaque City Saturday, March 16, 2013. Joining Aquino were (from L-R) Chairman and Chief Executive Officer Enrique Razon Jr., PAGCOR Chairman Cristino Naguiat Jr., Paranaque Mayor Florencio Bernabe Jr. RICHARD A. REYES

President Benigno Aquino III opened a giant $1.2 billion casino on Saturday to kick off the Philippines’ high-stakes bid to join the likes of Macau and Las Vegas in an elite group of gaming destinations.

Posted: March 16th, 2013 in Latest Business Stories | Read More »

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