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Smoking gone?

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The Aquino (Part II) administration collected a hefty amount in excise tax last year, the first year of the new “sin tax” on cigarettes and alcohol, with total revenues estimated at about P42 billion—almost double the projected target of P23 billion.

Posted: April 7th, 2014 in Columnists,Inquirer Columns | Read More »

Okada-Century Properties alliance falters

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Kazuo Okada AP FILE PHOTO

A dispute has erupted between the group of Japanese gaming magnate Kazuo Okada and Century Properties Group Inc. (CPG) on the local firm’s entry as a real estate partner in entertainment complex Manila Bay Resorts.

Posted: March 28th, 2014 in Editor's Pick,Headlines | Read More »

Biz Buzz: Gaming woes

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This show-biz personality—who’s no longer active these days—recently became the talk of the town, or at least the moneyed circle. This is because of his assets now being hawked out to high networth individuals. One yacht had been sold and another is up for grabs, according to the grapevine. One can only guess how many fancy cars and real estate assets this guy will add to the secondary market.

Posted: February 12th, 2014 in Headlines | Read More »

Okada seals gaming deal with PH firms

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Kazuo Okada AP FILE PHOTO

The group of Japanese gaming magnate Kazuo Okada has addressed the foreign equity limit on land ownership, snagging a $2-billion gaming and entertainment complex at the Pagcor Entertainment City in Parañaque.

Posted: November 3rd, 2013 in Latest Business Stories | Read More »

DOTC to drop gambling probe on Torres once she retires—Abaya

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LTO Assistant Secretary Virginia Torres (middle)   Contributed photo

The Department of Transportation and Communications is likely to drop an internal investigation into the gambling activities of the Land Transportation Office’s top official, Virginia Torres, who announced on Tuesday her retirement by the end of the month.

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

Solaire fires US managers

Workers can be seen doing the finishing touches at the Solaire Resort and Casino which will open on Saturday March 16. INQUIRER PHOTO/RAFFY LERMA

Solaire Resort, the Philippines’ biggest casino, said Friday it had fired its American managers, alleging breach of contract in a dispute that is now under arbitration.

Posted: September 14th, 2013 in Latest Business Stories | Read More »

Okada seeks criminal raps vs violators of PH anti-dummy law in Manila project

Kazuo Okada AP FILE PHOTO

The group of Japanese tycoon Kazuo Okada has announced that it was pursuing criminal charges against those allegedly involved in the “illegal flow of funds totalling $40 million” that was supposedly used as payment to Philippine authorities to circumvent the country’s anti-dummy law, according to a statement by his company seeking to build a casino in Manila Bay.

Posted: August 8th, 2013 in Latest Business Stories | Read More »

Okada group vows to pursue $2B entertainment hub in Manila

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Kazuo Okada AP FILE PHOTO

The group of Japanese tycoon Kazuo Okada has affirmed commitment to a $2-billion entertainment hub being developed in the Philippines, adding that it’s finalizing negotiations with a prospective local partner alongside efforts to deal with local land ownership restrictions.

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

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

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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 »

Gokongwei, Okada groups fail to clinch deal on Manila Bay Resorts project

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Kazuo Okada (left) AP file photo and John Gokongwei (photo by Nelson Matawaran): Scrapped casino talks

The groups of tycoon John Gokongwei and Japanese pachinko mogul Kazuo Okada have aborted discussions on a partnership for the latter’s Manila Bay Resorts, an integrated entertainment and resort project in Manila’s future gaming hub Entertainment City.

Posted: May 30th, 2013 in Editor's Pick,Featured Gallery,Headlines | Read More »

SEC OKs hike in Melco Crown’s authorized capital stock

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The local gaming unit of Macau’s Melco Crown group has obtained approval from the Securities and Exchange Commission to jack up its authorized capital stock ahead of a $400-million fresh equity offering plan.

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

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