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Casino
July 25, 2022
PH Resorts Clarifies No Loan Default in Stock Exchange Disclosures
Udenna Corp is a Philippine conglomerate and some worrying debt default news headlines lead to steep drops in many of the involved companies. PSE disclosures were issued by four companies, in order to clarify the confusion, addressing a single online article in the original disclosure statement documents. PSE Disclosures Clarify Default News After multiple news […]
Legal
July 15, 2022
UEC CEO Accuses Okada of Hiding Information in Battle over Okada Manila
The fierce fight over the control of the Okada Manila Casino Resort keeps on raging with more public statements from the involved parties. This time Universal Entertainment Corp (UEC) CEO Jun Fujimoto has targeted accusations against Kazuo Okada and his representatives. Okada Accused of Concealing Information Regarding the ongoing dispute over the control of the […]
Legal
July 12, 2022
Dispute over Okada Manila Rages in Battle of Public Statements
While awaiting court proceedings, the battle for the Okada Manila casino resort continues to rage through a sharp exchange of remarks between the opposing parties – the group led by Japanese billionaire and founder of the resort, Kazuo Okada, and the board of Tiger Resorts, Leisure and Entertainment Inc (TRLEI), which is backed by The […]
Casino
July 4, 2022
Kazuo Okada Issues First Statement Since Okada Manila Takeover
Japanese billionaire Kazuo Okada, the founder of Okada Manila, has finally issued a statement regarding the ongoing dispute over the casino resort, which he took control over together with Antonio “Tonyboy” Cojuangco and Dindo Espeleta on May 31. Kazuo Okada’s Statement In his statement, directed toward the staff of the Okada Manila casino resort, Okada […]
Casino
July 4, 2022
Andrea Domingo to Remain Chair and CEO of PAGCOR
Philippines President Ferdinand Marcos Jr known by his moniker “Bongbong” has announced that the country plans no immediate replacement of the gaming regulator’s head. PAGCOR chairwoman and CEO Andrea Domingo will remain in the position and will not be replaced by George Erwin Garcia, a lawyer whose name was floated on social media as a […]
Industry
June 30, 2022
PAGCOR Collected Record Profits for the Past Six Years
The Philippines gambling watchdog, the Philippine Amusement and Gaming Corporation (PAGCOR), has collected aggregated profits of over PHP300 billion ($5.5 billion) for the six-year period during which Andrea Domingo headed the regulator. Record Gambling Revenue for PAGCOR In a press release issued on June 29, chairman and CEO of PAGCOR Andrea Domingo shared the financial […]
Business
June 28, 2022
Hann Casinos in the Philippines Plan additional $1B Investment
Hann Philippines, a casino resort operator in the Philippines, is planning to expand its casino and hotel offerings over the next five years expecting demand from South Korea and Macau. Back to Pre-Pandemic Levels Formerly known as Widus Group, Hann Philippines initially announced its plans to revamp the Widus Resort located in the Clark Freeport […]
Industry
June 27, 2022
PAGCOR Settled $15M of the Fees POGOs Owed
The Philippine Amusement and Gaming Corporation (PAGCOR) announced that it has collected more than a third of the fees Philippine Offshore Gaming Operators (POGOs) owed. In total, the regulator recovered about $15 million. The rest is owed by operators that have remained closed since the beginning of the pandemic. The PAGCOR Recovered a Third of […]
Casino
June 23, 2022
The Dispute Over Okada Manila Continues in Court
The fight for control over the Okada Manila casino resort continues as the Philippines Supreme Court has issued a court order obliging Japanese billionaire Kazuo Okada to reply to a motion for clarification filed by the parent company of Tiger, Resort Leisure & Entertainment’s (TRLEI). The motion disputes the reinstatement of Okada on the TRLEI […]
Casino
June 23, 2022
PAGCOR Still Trying to Collect $42.7M from POGOs
The goal of PAGCOR, the Philippines’ gaming regulator, has always been to raise sufficient funds to pour back into various social programs. Now, though, a new audit indicates that the watchdog may have not collected as much as PHP2.33 billion ($42.7 million) from Philippine Offshore Gaming Operators (POGOs) over the past five years. PAGCOR Still […]