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Melco Crown year end losses posted
Melco Crown Entertainment filed their paperwork with the regulators in Hong Kong showing losses in 2014. Business World reported Monday April 13, 2015 that Melco Crown lost P6.3 billion in 2014 which is 156% mo...
Philippines
Sino-America group proposes 2 casinos for Philippines–$1 billion investment
Entertainment City, Philippines: A U.S. investment group, including a subsidiary have presented a proposal to Philippine regulators for two casino resorts with a combined price tag of $1 billion - one on Cebu, ...
PAGCOR remits P5-Billion cash dividends to National Treasury
Posted: Monday | March 30, 2015 | 4:30 PM
For the first time in nearly three decades of its existence, the Philippine Amusement and Gaming Corporation (PAGCOR) remitted P5 billion in total cash dividends to t...
SMIC has no specific plans for Cebu casino project
Yesterday we ran a story about SM Investments Corp considering the possibility of developing a casino on Cebu. In a filing with the Securities and Exchange Commission the company has clarified their position, s...
Casino project in Cebu eyed by SMIC
Update 3-27-15: SMIC has issued an official clarification with the PSE Securities And Exchange Commission clarifying that, "At the Latham and Watkins Conference, we only mentioned the possibility of having a g...
Some investigations into Universal Entertainment closed, PH Justice Secretary says not closed
Going back to 2012 Universal Entertainment has been under suspicion for making bribes. Decisions from various parties involved have now come to conclusions after holding fact finding panels. To fully understand...
Solaire Casino at Entertainment City posted profits For 2014
The first casino to open in Manila's (Parañaque) Entertainment City posted a loss of P1.315 billion for 2013. Solaire has turned that number around with a significant profit for 2014. The Solaire casino reporte...
Okada gets nod from Mississippi gaming regulator amid FBI probe
The Mississippi Gaming Commission has voted to renew Kazuo Okada's gaming license within Mississippi, voting "suitability status" for the Japanese billionaire. Okada operates Aruze Gaming America and will now ...
Bloomberry to buy South Korean island, casino operator
Reports state Enrique Razon, a Philippine billionaire, is going to buy a South Korean island to develop a new entertainment complex on. This tourism and leisure complex is specifically going to house a gambling...
Okada Group could lose over $2 million for failing to meet PAGCOR deadline
The Okada Group owned by Japanese casino mogul Kazuo Okada is in the process of constructing a massive $2.3 billion Manila Bay Resorts casino in Manila Bay, Philippines. The project is being developed by Tiger ...
Okada Group request project extension from PAGCOR
There are a number of mega casinos currently under construction in the Philippines and one of those casinos is being built by Tiger Resort, Leisure and Entertainment, Inc which is owned by Kazuo Okada, the Japa...
Philippines Supreme Court confirms that PAGCOR can take tax exemptions
The Philippine Amusement and Gaming Corporation (PAGCOR) as per law has to pay only 5% franchise tax from its gaming operations and normal income tax on the operations generated from regular services. The Burea...
Sun International merges Latin operations, eyes Asia
Sun International owns and operates dozens of casinos in Africa and South Africa including Sun City Casino Resort, as well as The Monticello Grand Casino in Chile. It was recently announced that they would merg...
Entertainment City expanding as Macau revenues contract
The push has been on for several years to make Manila's Entertainment City a destination in its own right for well heeled gamblers from China as well as a place for the burgeoning middle and upper income Filipi...
Legislature Proposes to Limit Philippine Gaming Authority Powers
Giorgidi Aggabao, a legislator from the Philippines, has proposed a bill that could limit the powers of the country’s gaming authority. Aggabao wants to remove the Philippine Amusement and Gaming Corp’s rights ...