Error message

  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).
  • Notice: Trying to get property of non-object in template_preprocess_imageblock_content() (line 349 of /home/agbrief/agb/sites/all/modules/imageblock/imageblock.module).

Philippines

Robert Gustafsson, the former head of Bodog’s Asian operations, is facing more charges in the Philippines, local media said. Global Internal Audit (Asset Management Group) auditors have uncovered further irregularities involving Gustafsson, former Chief Financial Officer Arleen Aldaba, Sherwin Quiambao and Sylvia De Guzman. 

Ian Robert Gustafsson, the former head of Bodog’s Asian operations and two other employees have been charged with embezzlement in the Philippines. The complaint involves an April 2012 transaction, 

Globalport 900 Inc. is planning to build a 9 billion peso development in Mandaue on Cebu that will include a casino and entertainment complex, Casino News reports. The company won the rights to develop the project two weeks ago. If it goes ahead, it will be built on 131 hectares of foreshore and submerged lands in Cansaga Bay. It will include a mixed-use commercial and industrial port.

 

Travellers International Hotel Group has priced shares in its initial public offering at 11.28 pesos a share to raise as much as 17.74 billion pesos ($411 million). Earlier reports said the company had been planning to price the stock at as much as 23.38 pesos, but cut back because of shaky market sentiment. Travellers is offering 1.573 billion shares and has an indicative price range of 10.65 to 11.88 pesos a share.

 

 

Melco Crown Resorts, a unit of Melco Crown Entertainment, has branded its new Philippine project “City of Dreams Manila” and increased the planned number of slots following recent regulatory changes. 

Philippine investigators say a company owned by Japanese gaming tycoon Kazuo Okada, a former director of Wynn Macau, allegedly bribed officials 

over a US$ 2 billion casino-resort project in Entertainment City, Manila, the local press reported. Philippine Justice Secretary Leila de Lima said there is documentary evidence of bribery, the report added. The case is also the subject of a criminal inquiry in the United States. 

Travellers International Hotel Group has slashed the maximum price of shares in its planned initial public offering by almost half to 11.88 pesos (US $0.27) a share, from the original plan of 23.38 pesos, amid continuing market volatility. 

The sale may now raise as much as US $430 million. Travellers, which is a venture between Genting Hong Kong Ltd. and Alliance Global Group Inc. plans to sell as many as 1.57 billion primary shares and as many as 236 million stocks in an over-allotment option to fund expansion. Markets have warmed up to the new scheme. 

Bloomberry Resorts Corp. has wasted no time in filling the management gap left by its dismissal of former COO Michael French, announcing on Tuesday that it had appointed former president of Marina Bay Sands Pte Ltd., Thomas Arasi, to the post.  

The Department of Justice (DOJ) last week issued a subpoena for Kazuo Okada, chairman of Universal Entertainment Corp., to attend a preliminary investigation on October 17 and 18 to answer criminal charges relating to his dealings in the Entertainment City project in Manila.  The Japanese gaming tycoon is to answer charges 

In an amended registration statement filed with the Philippines Securities and Exchange Commission on September 26, Travellers International Hotel Group said that it was rescheduling its IPO for October.  

Pages