Philippines

 

Singapore state investment company Temasek Holdings disclosed that it has built up a stake of 222.24 million shares, or 5.02 percent, in Melco Crown (Philippines) Resorts Corp., the local unit of Macau casino operator Melco Crown Entertainment Ltd. Melco Philippines is developing the $1 billion Belle Grande Manila Bay casino hotel in a joint venture with Belle Corp. Temasek's stake is worth 2.2 billion pesos ($53 million). Melco unsuccessfully competed for one of the two casino licenses Singapore awarded in 2006. 

 

 

Philippine Amusement and Gaming Corp. will close its casino in the Heritage Hotel Manila after 20 years of operations. The state-owned operator has told hotel owner Grand Plaza Hotel Corp. that it will not renew its lease for the casino when it expires July 10. Pagcor has been paying monthly rent of 10.72 million pesos ($258,000) and describes the casino on its website "as the most accessible hotel and casino in the metro". The casino has more than 50 tables and more than 400 slot machines. Pagcor operates three other casinos in the capital.

 

 

 

 

The ombudsman filed 39 charges of corruption against Efraim Genuino, the former chairman of Philippine Amusement and Gaming Corp., over the use of 26.7 million pesos ($633,000) in company money to promote the movie Baler, a joint production involving the Bida Foundation. The ombudsman also charged six other former Pagcor officials. Most of the officials, including Genuino, were involved with both Pagcor and Bida. Pagcor underwrote the cost of 89,000 movie tickets, though 72,150 went unsold after they were promoted to casino patrons and others.

 

 

National Bureau of Investigation agents arrested eight foreigners, mostly Malaysians, for allegedly operating an illegal online casino from a Manila condominium. The eight are to be deported and blacklisted.

 

 

The Widus Resort & Casino in the Clark Freeport Zone is nearly doubling its room count to 233 from 119 due to growing passenger volumes at Clark International Airport. The expansion is expected to be complete by October.

 

 

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