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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 »

Pagcor eyes penalty for Japanese casino developer

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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.

Posted: October 8th, 2014 in Latest Business Stories | Read More »

Protecting sin tax gains

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Elated by the success of their hard-won campaign to overhaul the country’s excise tax system, civil society groups are now shifting gear from raising taxes on so-called “sin products” to ensuring proper collection and preventing tax evasion, particularly on cigarettes.

Posted: July 2nd, 2014 in Columnists,Featured Columns,Inquirer Columns | Read More »

Pagcor to reduce intelligence expenses following criticisms

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pagcor

The Philippine Amusement and Gaming Corporation (Pagcor) is projecting a “much lower” disbursement of its intelligence funds this year as it vowed to find ways to further reduce its intelligence expenses.

Posted: June 30th, 2014 in Latest Business Stories | Read More »

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