• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 2 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Philippine Lawmakers May Subpoena Okada

Newsdesk by Newsdesk
Thu 15 May 2014 at 01:38
Print Friendly, PDF & Email

A lawmaker in the Philippines says he wants Kazuo Okada to respond personally to allegations that companies he controls attempted to evade the country’s 40% cap on foreign ownership in winning approval for a US$2 billion Manila megaresort.

Mr Okada’s Tokyo-based Universal Entertainment together with a number of affiliated entities and individuals, including the Japanese billioniare himself, have been under investigation by the Philippine Department of Justice in connection with charges that dummy companies were used so that it would appear the giant project, Manila Bay Resorts, as its called, was in compliance with the ownership rules.

Since then, three partnerships with Philippine developers designed to bring it into compliance have fallen through. These include deals with Robinsons Land, First Paramount Holdings 888 and Century Property Group. Both Robinsons and First Paramount withdrew; while Universal’s principal Philippines affiliate, Eagle 1 Landholdings, terminated the partnership with Century in an apparent dispute over control of certain residential and commercial elements planned for the complex, which occupies 44 hectares of a government-sponsored resort district on Manila Bay called Entertainment City.

The Philippine Amusement and Gaming Corp. (PAGCOR), the government regulator that owns the district, has temporarily put on hold the license granted to Tiger Resort Leisure and Entertainment, a Philippine subsidiary of Universal, until the ownership issues are resolved.

Tiger maintains Manila Bay Resorts will open on schedule in 2015. But Elpidio Barzaga Jr., who chairs the House of Representatives’ Committee on Games and Amusement, says the panel wants Mr Okada to tell them how that will be accomplished.

“He must come here to personally explain how he plans to comply with the constitutional limitations on foreign ownership after it was discovered that he used fronts,” the representative for Cavite said. “We should subpoena him to ensure his attendance because we cannot rely on just his lawyers’ excuses forever.”

Mr Barzaga accuses attorneys for Mr Okada of stonewalling both the committee and the Justice Department in their investigations.

“We believe we should address this problem now rather than wait until Okada has completed his project and the government would be forced to bend over backward for him just to prevent an international lawsuit,” he said.

PAGCOR has issued four casino licenses at Entertainment City. PSX-listed Bloomberry Resorts holds one. Its Solaire Resort & Casino opened last March. The second, City of Dreams Manila, is slated to open later this year as a joint venture between a Philippine subsidiary of Macau’s Melco Crown Entertainment and a subsidiary of Philippine retail and real estate giant SM Group. PSX-listed Travellers International Hotel Group holds the fourth license. Travellers, a joint venture between Hong Kong-listed Genting Hong Kong and Alliance Global, a major Philippine restaurant and commercial property developer, also owns the country’s largest casino, Resorts World Manila.

 

RelatedPosts

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

Tue 1 Jul 2025 at 08:54
Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Mon 30 Jun 2025 at 14:04
SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

Sun 29 Jun 2025 at 17:45
More fun in the Philippines

IAG EXPO – Exhibitor registration closing today!

Fri 27 Jun 2025 at 06:31
Load More
Tags: Entertainment CityKazuo OkadaManila Bay ResortsPhilippinesUniversal Entertainment
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

JP Morgan: Macau GGR surge seemingly sparked by direct VIP, ultra-premium mass gaming customers

by Ben Blaschke
Tue 1 Jul 2025 at 18:15

The unexpected resurgence of Macau gaming revenues over the past two months, which culminated in June GGR smashing consensus at 19% year-on-year growth, appears to have been supported by the performance of the high-end gaming segments, according to investment bank...

Thailand in political turmoil as Constitutional Court suspends Paetongtarn as Prime Minister over leaked phone call

Thailand in political turmoil as Constitutional Court suspends Paetongtarn as Prime Minister over leaked phone call

by Newsdesk
Tue 1 Jul 2025 at 15:26

Thailand’s fragile political situation took another dramatic turn on Tuesday as the Constitutional Court suspended Paetongtarn Shinawatra as Prime Minister pending an investigation into her leaked phone call with former Cambodia leader Hun Sen. Paetongtarn may still remain as culture...

On the brink

Macau GGR continues recent resurgence by rising 19% year-on-year to MOP$21.1 billion in June

by Ben Blaschke
Tue 1 Jul 2025 at 12:52

Macau’s casinos generated gross gaming revenue of MOP$21.06 billion (US$2.60 billion) in June, representing a 19.0% improvement over the same month last year and continuing the city’s recent growth spurt. The June figure was only slightly lower than May, when...

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

by Newsdesk
Tue 1 Jul 2025 at 08:54

Philippine gaming regulator PAGCOR has approved a Php50 million (US$888,000) grant to the Bureau of Immigration (BI) to fund the ongoing deportation of foreign workers previously employed by illegal offshore gaming operators, or POGOs, it revealed Tuesday. In a statement,...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English