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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 »

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 »

Lower ‘win rate’ crimped Travellers’ 2013 earnings

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Travellers International Hotel Group Inc., developer and operator of integrated gaming and tourism estate Resorts World Manila, posted a 59-percent decline in net profit last year to P2.74 billion on financing costs and a lower “win rate” for its casino.

Posted: March 21st, 2014 in Headlines | Read More »

Travellers International’s net profit in 2013 dipped 59% to P2.74B

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Travellers International Hotel Group Inc., operator of Resorts World Manila (in photo). INQUIRER FILE PHOTO

Travellers International Hotel Group Inc., developer and operator of integrated gaming and tourism estate Resorts World Manila, posted a 59-percent decline in net profit in 2013 to P2.74 billion on financing costs and mark-to-market losses on its US dollar-denominated bond.

Posted: March 20th, 2014 in Latest Business Stories | Read More »

Pagcor asked to remit P5.8B in unpaid dividends to gov’t coffers

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Pagcor chairman and  chief executive officer Cristino Naguiat  INQUIRER file photo

The Philippine Amusement and Gaming Corp. has been asked by the Department of Finance to remit to state coffers P5.8 billion worth of unpaid dividends during the term of President Gloria Macapagal-Arroyo.

Posted: February 24th, 2014 in Latest Business Stories | Read More »

Gaming company gets SEC nod on share offering

The Securities and Exchange Commission has approved Leisure and Resorts World Corp.’s (LRWC) plan to raise P250 million from an offering of preferred shares sweetened with warrants, partly to fund the acquisition of a hotel-casino building in Binondo.

Posted: February 22nd, 2014 in Headlines | Read More »

Leisure & Resorts World Corp. raising P250 M to buy Binondo hotel-casino

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Travellers International Hotel Group Inc., operator of Resorts World Manila (in photo). INQUIRER FILE PHOTO

The Securities and Exchange Commission has approved Leisure & Resorts World Corp.’s plan to raise P250 million from an offering of preferred shares sweetened with warrants, partly to fund the acquisition of a hotel-casino building in Binondo.

Posted: February 21st, 2014 in Latest Business Stories | Read More »

PH to give Singapore a run for its money

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The Philippines may soon become the world’s second largest gaming market, next to Macau, with about $6 billion to $7 billion in gross gaming revenues in around five years, the chief of state-controlled Philippine Amusement and Gaming Corp. said Tuesday.

Posted: February 19th, 2014 in Headlines | 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 »

Nobu Hotel to debut in Asia at City of Dreams in Manila

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Screen grab from www.nobuhotels.com/

Nobu Hotel, inspired by Japanese culinary genius Nobuyuki Matsuhisa, is making its debut in Asia as Macau gaming giant Melco is set to introduce a 321-room hotel under his brand as part of its gaming and entertainment hub City of Dreams Manila.

Posted: January 27th, 2014 in Latest Business Stories | Read More »

Las Vegas firm sells stake in Bloomberry

The Las Vegas-based management firm that was earlier booted out of Solaire Resort & Casino has unloaded its 8.7-percent stake in Bloomberry Resorts Corp. at a discount, prompting the gaming firm to go on a six-day trading suspension starting yesterday.

Posted: January 16th, 2014 in Headlines | Read More »

‘Pro’ fleeces casino

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Solaire Resorts and Casino—the country’s newest and trendiest gaming destination—was recently visited by a “pro” who walked out of the venue a few million pesos richer, according to our sources.

Posted: December 31st, 2013 in Headlines | Read More »

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