Philippines

The Philippine Stock Exchange allowed shares of Leisure & Resorts World Corp. to resume trading following a three-day suspension after the company began implementing a pledge to help investors unwind trades made when the company misstated the dividend it would pay. Fifteen times as many shares changed hands as usual after the company said July 29 that it would pay a dividend of 40 centavos a share when it meant to say 4 centavos.

Melco Crown Entertainment Ltd. will announce branding for the hotel portion of the Belle Grande Manila Bay casino complex next month, Willy Ocier, vice chairman of Belle Corp., told the Philippine Star. The $1.3 billion project is a 50/50 joint venture between Belle and Melco Crown's local unit. “(The hotels) are five and six-star brands. Solaire is five and six-stars so we cannot be less than that,” he said, suggesting Melco Crown might carry over some brands from its Macau properties.

Noli Romana, the new police chief of Cebu city, said he will crackdown on illegal gambling in the city, responding to critics who had noted that he was previously relieved of his position as director of provincial police in Negros Oriental for failing to curb illegal gambling. Two of his subordinates there are under investigation for allegedly taking bribes from gambling operators.

SBOBET, the Philippine-based online bookmaker, signed an agreement to be the official Asian betting partner of Norwich City, the English Premier League club, following a similar deal last week with Swansea City. Bill Mummery, executive director of SBOBET, said the company can "help lift the profile of Norwich City in the Asia region".

 

Bodog Asia has signed a six-figure sponsorship deal to cover the 2013 FIBA Championships. However, the exact amount was not disclosed. The women’s volleyball championship runs from August 1-11 in Manila. Izhar Biran, marketing director for Bodog Asia, said “very few events on the planet can offer those sort of [audience] numbers [of 100 million] so this was an easy decision for us.”

 

 

Swansea City, the English Premier League club, announced it had entered an exclusive agreement with SBOBET, the Philippine-based online bookmaker, to become the club’s official Asian betting partner. Swansea City vice-chairman Leigh Dineen said “there is huge interest in the Barclays Premier League in Asia and we want to be at the forefront of that interest”. He added, “Crucial to the agreement is the fact that SBOBET has also agreed to assist us with our adult initiatives within the local community.”

 

 

Michael Rama, mayor of Cebu City, vetoed a city council resolution to authorize Cebu Grand Management Group Inc. to open a poker room inside the Casino Filipino at the Crown Regency Hotel. He said later he acted in objection to new gambling operations in the city.  Waterfront hotels in Cebu have been hosting legs of the Asian Poker Tour and Asia Pacific Poker Tour.

 

 

 

Philippine Amusement and Gaming Corp. remitted 1.17 billion pesos ($27 million) to the government in May, up 15 percent from a year earlier thanks to contributions from the new Solaire Casino. The government-owned casino operator is required to remit at least half its revenue.

 

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