Andrea Domingo, head of the Philippines’ gaming regulator, said she hopes the president can relax his ban on new casino licenses, fearing the country would lose out on lucrative foreign investment, according to a report from Bloomberg.
Universal Entertainment has announced that it will be working with Chinese state-owned travel agency to develop package tours to its Philippines-based resort, Okada Manila.
The Philippine Gaming and Amusement Corp. (PAGCOR) expects gross gambling revenue in the country to gain 8.5 percent to 217 billion pisos (about US$4.1 billion) in 2019, Reuters reports.
Japanese billionaire Kazuo Okada has asked the Philippine Stock Exchange to block a planned backdoor listing of Tiger Resort Asia, which owns and operates the US$2.4 billion Okada Manila.
Universal Entertainment has reported to the JASDAQ Securities Exchange a month-to-month 13% decline in gaming revenue from its unit Tiger Resort Leisure & Entertainment, the operating firm for Okada Manila.
Universal Entertainment assured shareholders on Monday that the arrest warrant for Universal Entertainment founder Kazuo Okada will not affect its Philippines gaming operations.
Tiger Resorts & Leisure has been ordered to re-submit its tender offer to minority shareholders in Asiabest Group to disclose factual information about civil and criminal proceedings involving its directors in Hong Kong.