Philippine President Rodrigo Duterte announced he was firing the entire board of Landing International Development’s local partner, just as the two parties broke ground on a US$1.5 billion theme park in Entertainment City, Manila.
Japanese gaming mogul Kazuo Okada and an associate has been arrested by Hong Kong’s anti-corruption watchdog, according to a filing from Universal Entertainment Corporation.
The Philippines is reportedly looking for ways to hasten the processing of “visa upon arrivals” for Chinese and Indian tourists after recognizing the importance of the two markets, local media reports.
Philippine President Rodrigo Duterte has reiterated that he will not allow gambling to take root on Boracay island, which has been closed to tourism due to environmental degradation. He also clarified that he does not have any financial interest in the rehabilitation of the island amidst allegations that business owners would benefit after the six-month cleanup.
Japan is not the only nation in Asia struggling with the question of how many IRs should ultimately be allowed in the country. The Philippine Amusement and Gaming Corporation (PAGCOR), for example, has recently decided to put a moratorium on issuing further land-based casino licenses in the country. They say this is designed to protect investments made by existing casino operators.
Privately-owned Udenna Corporation is planning to shift its hotel and casino assets into a listed unit as it pushes further into the tourism sector in the Philippines.