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Tag Archives: Manila Bay

Philippines – PAGCOR threatens Universal/Tiger with licence suspension

PAGCOR, the Philippine gaming regulator, has given Tiger Resorts, the operator controlled by Kazuo Okada’s Universal Entertainment, 90 days to explain why it shouldn’t have the licence for its future casino resort in the Philippines revoked. PAGCOR has already confiscated a $2.2m guarantee payment from Tiger, paid when it secured the licence for Manila Bay…

Philippines – Travellers to complete Resorts World Bayshore by 2018

Travellers International Hotel Group, owner and operator of Resorts World Manila in Manila Bay, in the Philippines, has said the first phase of its US$1.1bn second casino should be complete by 2018. Travellers, controlled by Alliance Global Group and Genting Hong Kong, will commence construction on Resorts World Bayshore within the next three months with…

Philippines – Universal and Century Properties prepare for legal battle over Eagle 1 shares

Tokyo-based Universal Entertainment has severed a deal with Century Properties which would have seen the Philippine-based company funded part of the US$2bn Manila Bay Resorts casino complex it is developing on Manila Bay in the Philippines. Century Properties, who said it would contest the notice of termination, had agreed to buy a 36 per cent…

Philippines – Universal offloads 60 per cent of Manila Bay project

Universal Entertainment has signed a deal with a Philippine property developer as it looks to move forward with its US$2bn Tiger Resorts project in Pagcor Entertainment City. It has signed a deal with Century Properties Group who will develop five hectares of the 44-hectare site. Analysts believe that the agreement struck with Kazuo Okada’s Eagle…

Philippines – Melco Crown to brand Philippines project; City of Dreams Manila

Melco Crown’s new integrated casino resort at Entertainment City, Manila, will be branded City of Dreams Manila, building on the success of the company’s City of Dreams project in Macau. Following various amendments to gaming regulations in the Philippines by PAGCOR, City of Dreams Manila has been permitted to operate a substantially increased number of…

Philippines – Doubt over Manila Bay’s sustainability

With four huge projects planned for the region, Analyst Union Gaming Group has questioned whether Manila Bay in the Philippines can support two large scale casino resorts projects. The group’s Grant Govertsen said: “It can hardly support two integrated resorts. We’d doubt if these companies will be able to generate a meaningful return for their…

Philippines- New twist in Okada/Wynn case could halt Manila casino

With US authorities investigating bribery charges brought against Universal Entertainment’s Kazuo Okada by Steve Wynn, Philippine officials have confirmed the former’s licence to operate in Manila Bay could be cancelled. The investigation, part of the long-running Wynn/Okada court saga, will determine whether a US$5m payment by affiliates of Universal to Rodolfo Soriano, then a consultant…

Philippines- Okada’s Tiger Resorts to be bolstered by Taipan billionaire

Taipan billionaire John Gokongwei is believed to be in discussions over lending his financial muscle to the Philippine’s project of Japanese billionaire and Pachinko King Kazuo Okada, one of four groups given a license to operate a casino in the $5bn Entertainment City, a 100-hectare property on the edge of Manila Bay. Mr. Gokongwei, listed…