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Suncity Group said it has signed two construction agreements worth HK$1 billion with Megawide to develop its integrated resort project in the Philippines.
The Philippine Amusement and Gaming Corp. said it was suspending all gaming operations in Manila following President Rodrigo Duterte’s decision to put Metro Manila under community quarantine.
Okada Manila saw gross gambling revenue rise 29.5 percent in September, with strong gains from both the VIP and mass market segment.
Tiger Resorts & Leisure, the company that operates Okada Manila, said the integrated resort generated a 26 percent gain in gross gaming revenue in April.
Tiger Resorts & Leisure has been ordered to re-submit its tender offer to minority shareholders in Asiabest Group to disclose factual information about civil and criminal proceedings involving its directors in Hong Kong.
Universal Entertainment released financial figures showing that casino revenues at Okada Manila reached a record-high PHP2.9 billion ($55.1 million) in November, combined with a record-high EBITDA of almost PHP528 million pesos ($10 million) during the same period.
Philippine gross gambling revenue gained 23 percent in Q3, with figures for year to September already surpassing 2017’s total, according to figures released by the Philippine Gambling and Amusement Corp (PAGCOR).
The Philippine Court of Appeals has upheld a lower court ruling ordering the Philippine Amusement and Gaming Corp. to issue a license for Waterfront Philippines to operate an IR in Manila’s Entertainment City.
Okada Manila, owned by Japan’s Universal Entertainment, is the new comer to Entertainment City, holding a soft opening for the resort in late 2016. At 44 hectares, the property is by far the biggest in the complex and the rollout of hotels and other facilities is continuing. At its completion of Phase One, Okada will have 994 hotel rooms and operate 500 tables and about 3,000 slots. Its centrepiece is the world’s largest coloured fountain, as well as a giant inner city beach complex, known as “Cove Manila”. Managing Director Steve Wolstenholme spoke to AGB about the progress of the rollout and his optimism about non-gaming opportunities in the Philippines.
Resorts World Manila (RWM) was the first integrated resort (IR) to open in the Philippines and is the only one not located in Entertainment City, but opposite the country’s primary international airport. The property is currently in the third phase of its expansion, which will consist of a further three hotels, more gaming and other amenities, and is scheduled to be completed by 2018. Chief Operating Officer Stephen Reilly tells AGB about recovery from a deadly attack last year and how the resort fosters a loyal local base.