By Ben O. de Vera
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.
By Miguel R. Camus
The county’s casino gambling regulator is likely to penalize the local unit of Japan’s Universal Entertainment Corp., led by billionaire Kazuo Okada, if it fails to open its $2-billion project in the Entertainment City complex by Manila Bay by March next year.
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.
By the staff
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.
By the staff
Taipan Lucio Tan might be keen on buying back San Miguel Corp.’s stake in Philippine Airlines (PAL), consolidating his group’s control over the flag carrier, but it appears the pool of local wealthy investors is drier than we thought.