Casino
September 9, 2022
Court Denies Okada’s Appeal against PAGCOR
Japanese billionaire and founder of the Okada Manila Casino Resort Kazuo Okada is not giving up on the fight over the control of the resort that easily. Okada recently made an attempt to block the decision by the Philippine Amusement and Gaming Corporation (PAGCOR) to reinstate the board of directors of the resort’s operator Tiger […]
Casino
September 7, 2022
TRAL Regains Control Over Okada Manila Following PAGCOR Order
On September 2, Philippine Amusement and Gaming Corporation (PAGCOR) ordered the group led by Japanese billionaire Kazuo Okada to surrender the Okada Manila Casino Resort back to The Tiger Resort Asia Limited (TRAL), the legal owner of the casino’s operator Tiger Resort, Leisure and Entertainment Inc (TRLEI). TRAL Regains Control Over Okada Manila Following an […]
Casino
September 5, 2022
PLC Reports 47% Revenue Increase in H1 2022
Premium Leisure Corp (PLC), an investment holding company that participates in gaming-related businesses, has posted its financial results for the first half of 2022. The results demonstrate a strong post-COVID recovery and show the company’s strengths. PLC Recorded Improved Revenues As reported by PLC, the company earned around $14.69 million (current conversion rates) for the […]
Industry
September 1, 2022
New PAGCOR Chief Suggests Privatization of State-Owned Casinos
The new CEO and chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), Alejandro Tengco, has suggested that he will be considering the privatization of the state-owned casinos in the Philippines. New PAGCOR Chief Voices Ideas Regarding Casino Privatization The freshly appointed PAGCOR head, Tengco, has made comments that PAGCOR will reconsider its current function […]
Legal
August 29, 2022
Former TRLEI Board Accused of Theft by Current Okada-led Executives
The saga over the control of the Okada Manila Casino Resort still continues. The next move in the dispute comes from the board of the casino operator Tiger Resort, Leisure and Entertainment, Inc (TRLEI) led by Japanese millionaire Kazuo Okada. The executives have filed a lawsuit against the former TRLEI board members on theft charges […]
Business
August 29, 2022
PAGCOR Casinos May Be Up for Sale Under BBM
The presidential elections in the Philippines earlier this year resulted in the appointment of Bongbong “BBM” Marcos, a scion of Ferdinand Marcos Sr., a former president, and Imelda Romualdez Marcos, a former first lady. While his family is linked to profligate spending that was largely seen as one of the reasons why the Philippines ended […]
Casino
August 8, 2022
Bloomberry Resorts Posts Strong Q2, First Half 2022 Results
The resort developer and operator, Bloomberry Resorts, released its unaudited financial results for the six months and three months ended June 30, 2022. Bloomberry Resorts Enjoys Strong First Half, Q2, 2022 The company reported a strong first half of 2022 with double-digit growth. This result was further complemented by triple-digit growth in gross gaming revenue […]
Casino
August 8, 2022
Philippines Court Lifts Freeze on Funds of Chinese Junket
An appeal from the Philippines’ Anti-Money Laundering Council (AMLC) was rejected by the Court of Appeals in the Philippines after the court confirmed its own decision on April 29 to lift the asset preservation order (APO) against a Chinese casino operator that has operations in the Philippines, which was issued in connection with the cyber […]
Legal
August 5, 2022
Okada Manila Corporate Wrangle to Continue with Inspection
The corporate wrangle around Okada Manila casino integrated resort in the Philippines continued with the board backed by Tiger Resort Asia (TRA) sending a demand letter to the board backed by Kazuo Okada demanding internal documents inspection. Disbursing Funds from the Casino Cage TRA, the owner of 99.9% of the voting rights of Tiger Resorts, […]
Esports
August 4, 2022
Manhunting Philippine Esports Team Owner After $33M Drug Bust
According to the accused, who “categorically denies” the allegations, “the truth will always prevail”. On the other side, the governmental bodies want him to “surrender and face the charges against him”. Bernard Lu Chong Wanted for Alleged Drug Smuggling The Daily Tribune reported on the National Bureau of Investigation (NBI) launching a so-called “manhunt” for […]
