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Pagcor may forfeit Okada bond worth P100M

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Kazuo-Okada

Philippine Amusement and Gaming Corp. (Pagcor) may opt to forfeit the P100-million guarantee earlier set aside by Japanese gaming magnate Kazuo Okada if his group fails to finish the construction of its casino at the Entertainment City on the deadline stipulated in its contract.

Posted: October 23rd, 2014 in Latest Business Stories | Read More »

Higher investment floor for new gaming investors eyed

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The City of Dreams at its earlier stage of construction. State-run Philippine Amusement and Gaming Corp. plans to come out before yearend with a rule putting in place a higher investment requirement for new investors at its sprawling Entertainment City gaming complex along Manila Bay.

Pagcor chair and chief executive Cristino L. Naguiat Jr. told reporters on Wednesday that present terms of reference are being amended so that the minimum capital investment of new entrants would exceed the only $1-billion requirement under existing rules.

Posted: October 23rd, 2014 in Editor's Pick,Headlines,Latest Business Stories | Read More »

$1.2-B City of Dreams Manila to open in November

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City of Dreams Manila, the second of four integrated casinos in Entertainment City along Manila Bay, is set to open in two months, the holder of its gaming license said.

Posted: September 29th, 2014 in Headlines | Read More »

Entertainment City’s casino project hiring 8,000 people

The group of Japanese billionaire Kazuo Okada is preparing to hire about 8,000 workers to staff the initial phase of its integrated casino project in Entertainment City along Manila Bay in Parañaque City, which is scheduled to open in late 2015.

Posted: September 26th, 2014 in Editor's Pick,Headlines | Read More »

Biz Buzz: SM going solar

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Replicating a similar project in its shopping mall in Xiamen, SM Prime Holdings will harness energy from the sun to help power SM North Edsa. This is planned for installation and commissioning in the first half of 2015. The project is designed to generate about 1.4 megawatts at peak, SMPH chief finance officer Jeffrey Lim said.

Posted: September 26th, 2014 in Columnists,Inquirer Columns | Read More »

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