Biz Buzz: No rest for BSP chief
The country may now be officially classified as investment grade and foreign funds are flooding local financial markets, but things at the Bangko Sentral ng Pilipinas are as busy as ever.
The country may now be officially classified as investment grade and foreign funds are flooding local financial markets, but things at the Bangko Sentral ng Pilipinas are as busy as ever.
Casino industry leaders met in the world’s biggest gambling hub of Macau on Tuesday for the Global Gaming Expo Asia, a three-day fair of gambling innovations at the glitzy Venetian Macau hotel.
Tycoon Andrew Tan-led Alliance Global Group Inc. grew its first-quarter net profit by 18 percent year on year to P4.91 billion on higher earnings chalked up by its property development, gaming and beverage businesses.
The climate is turning more benign in upscale Ayala Alabang and it has nothing to do with Pagasa’s announcement that the uber-sizzling summer is about to end.
There seems to be no stopping the move to merge the Philippine Dealing System Holdings Corp. (PDS) with the Philippine Stock Exchange, with the latter as the surviving entity—a move that will create a unified bourse and allow fund managers, bankers and even retail investors to trade both stocks and bonds.
Gaming firm Melco Crown Philippines (MCP) has raised $377 million from an equity placement deal priced at the top end of the target range.
Leisure estate and gaming firm Belle Corp.’s first-quarter net profit soared by nearly 15 times year on year as it started collecting rental income from Macau casino operator Melco Crown ahead of the 2014 opening of its integrated casino project in Pagcor City.
Leisure estate and gaming firm Belle Corp. expects to generate around $35 million a year in annual rental earnings from the operation by Macau’s Melco Crown group of Belle Grande, the second gaming complex to open at Pagcor City.
The Philippine Amusement and Gaming Corp. on Wednesday unveiled a plan to upgrade its nationwide slot machine system (SMS) by integrating all its units in various casinos around the country in a single network.
In 10 days—or right after the annual stockholders’ meeting of Ayala-led Bank of the Philippine Islands—the country’s most valuable bank will have a new president, investment banker Cezar Consing, who certainly has very big shoes to fill.
The chance of success of the Entertainment City project of the Philippine Amusement and Gaming Corp. are good, but it is by no means a sure thing, given the challenges the country continues to face.
Japanese gaming tycoon Kazuo Okada on Wednesday refuted the findings of a report by a former United States Federal Bureau of Investigation chief accusing the Japanese businessman of violating US antibribery laws.
