Philippines gaming operator Waterfront Philippines Inc says the company has yet to consider any possible development of a Manila integrated resort, revealing it expects its ongoing legal battle with gaming regulator PAGCOR to reach the Supreme Court.
The comments come after the Philippines Court of Appeals (CA) last week upheld for the second time a ruling by Manila’s Regional Trial Court compelling PAGCOR to issue a provisional casino license to Waterfront to operate a casino-hotel in Entertainment City.
That decision formed the latest chapter in a lengthy saga between the two parties which began when Waterfront filed a 2008 application to develop the Grand Waterfront Hotel and Casino and deposited US$100 million in cash as per PAGCOR’s stipulated requirements. Despite fulfilling all of those requirements, PAGCOR failed to respond, with Waterfront eventually filing a petition in 2015 seeking a resolution.
In a filing with the Philippines Stock Exchange (PSE) on Tuesday, Waterfront defended its position in the matter, stating, “Even during the administration of President Aquino, no action was also made and no communication was even given by PAGCOR, prompting the filing of the case. PAGCOR did not file its appeal with the RTC on time, prompting the case to be elevated to the CA. The CA has upheld the RTC decision.”
However, in response to questions from the PSE regarding its plans for IR development, Waterfront added, “There is still no finality to the case, as it is expected to reach the Supreme Court.
“We cannot make any comments as the matter is sub-judice. When the matter is finally decided by the Supreme Court, the appropriate disclosures will be made.”
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