PARAÑAQUE | Entertainment City Manila [gov|mix] [Archive] - Page 31

DCRJ

February 22nd, 2012, 12:33 AM

di raw kasalanan ni nuguiat ang pagtangap ng hotel accomodations etc...

normal pag tao ni ABNOY

abnormal pag ibang tao ang gumagawa sa pagtangap ng regalo

hanep ka Lacierda,para kang nsa mental health na nurse,tingnan mo yung mata mo,kakaiba na

napansin ko nga rin yan eh. pag si Naguiat ang tumanggap freebies are OK and accepted in Pagcor and acceptable by Naguiat's classmate Pres. Noynoy Aquino pero pag si Genuino ang tumanggap ng rice donations freebies are NOT OK and not accepted in Pagcor and surely NOT acceptable by Pres. Noynoy Aquino because Genuino, an ex-Pagcor chief, was appointed by GMA not by Pnoy !

======================================================================

Palace: Freebies for Pagcor OK
By Christine O. Avendaño
Philippine Daily Inquirer

http://newsinfo.inquirer.net/files/2011/12/lacierda3-298x224.jpg

Malacañang on Tuesday said there was nothing wrong with Philippine Amusement and Gaming Corp. (Pagcor) Chairman Cristino Naguiat accepting free accommodations and gifts from the Wynn chain of casino hotels as this was “an industry practice and saves expenses for the government.”
According to presidential spokesperson Edwin Lacierda, Naguiat did not personally profit from the freebies.

In a press briefing, Lacierda said President Benigno Aquino III had accepted Naguiat’s explanation on the matter which was revealed in a dispute between Wynn Resorts Ltd. chief executive Steve Wynn and Japanese gambling tycoon Kazuo Okada.

Wynn had accused Okada of making improper cash payments and gifts totaling about $110,000 to gaming regulators, including those in Philippines—in this case, Pagcor.

The report alleged that Pagcor officials had received dinners, Chanel bags and suites at Wynn Macau, all courtesy of Okada, chair of Universal Entertainment Corp.

“(The President has accepted Naguiat’s explanation) in the matter of being able to save on costs, that is beneficial to the government and chair Naguiat never profited from it personally anyway,” Lacierda said.

“Look, it’s cheaper for us: When they come here we pay for them and when we go there they pay for (our) accommodations. From that perspective, we save more on the cost,” he said.

Asked whether this kind of arrangement was not in conflict with the President’s clean governance campaign, Lacierda said there was no conflict because Okada had been granted a provisional license as far back as 2008 to do business with Pagcor.

http://newsinfo.inquirer.net/149945/palace-freebies-for-pagcor-ok

pau_p1

February 22nd, 2012, 03:50 AM

well in business if you really want to grab something freebies are given... in my previous company we even tour our counterparts who visit the country with all expenses paid by our project... this ensures that business relationship is retained...

and I can imagine that all winning and losing proponents even from the time of Geniuno has given freebies to try to woo them for that coveted spot...

sun-tex

February 22nd, 2012, 05:44 AM

mas katangap tangap pa ang Platinum cards na binigay ng PAL kay corona kasi lahat ng governmant heads ay merong PAL platinum,pero ang pagangap ng regalo sa isang project ay halatang may corruption at iilan lang sila, ito ba ang maganda daan at tuwid na daan?

baka ito ay "ang Dating Daan",tama, kasi magrarally ang INC sa Feb. 28 laban kay Pnoy

ang regalo kay Corona na Platinum Cards ay pribadong usapan at sa pamamagitan lang ng PAL at ng cardholder, pero ang government projects ay di sa pamamagitan lang ni nuguiat at ng investor kundi sa gobyerno at ang investor, hindi pagmamay ari ni nuguiat ang pagcor lalo na ni PNOY ang pilipinas

nakikita ko dala dala ng administrasyong aquino ang salamin na naka imprenta si marcos,arroyo at cory

Kintoy

February 22nd, 2012, 07:14 AM

Kintoy

February 22nd, 2012, 07:15 AM

napansin ko nga rin yan eh. pag si Naguiat ang tumanggap freebies are OK and accepted in Pagcor and acceptable by Naguiat's classmate Pres. Noynoy Aquino pero pag si Genuino ang tumanggap ng rice donations freebies are NOT OK and not accepted in Pagcor and surely NOT acceptable by Pres. Noynoy Aquino because Genuino, an ex-Pagcor chief, was appointed by GMA not by Pnoy !

======================================================================

Palace: Freebies for Pagcor OK
By Christine O. Avendaño
Philippine Daily Inquirer

http://newsinfo.inquirer.net/files/2011/12/lacierda3-298x224.jpg

Malacañang on Tuesday said there was nothing wrong with Philippine Amusement and Gaming Corp. (Pagcor) Chairman Cristino Naguiat accepting free accommodations and gifts from the Wynn chain of casino hotels as this was “an industry practice and saves expenses for the government.”
According to presidential spokesperson Edwin Lacierda, Naguiat did not personally profit from the freebies.

In a press briefing, Lacierda said President Benigno Aquino III had accepted Naguiat’s explanation on the matter which was revealed in a dispute between Wynn Resorts Ltd. chief executive Steve Wynn and Japanese gambling tycoon Kazuo Okada.

Wynn had accused Okada of making improper cash payments and gifts totaling about $110,000 to gaming regulators, including those in Philippines—in this case, Pagcor.

The report alleged that Pagcor officials had received dinners, Chanel bags and suites at Wynn Macau, all courtesy of Okada, chair of Universal Entertainment Corp.

“(The President has accepted Naguiat’s explanation) in the matter of being able to save on costs, that is beneficial to the government and chair Naguiat never profited from it personally anyway,” Lacierda said.

“Look, it’s cheaper for us: When they come here we pay for them and when we go there they pay for (our) accommodations. From that perspective, we save more on the cost,” he said.

Asked whether this kind of arrangement was not in conflict with the President’s clean governance campaign, Lacierda said there was no conflict because Okada had been granted a provisional license as far back as 2008 to do business with Pagcor.

http://newsinfo.inquirer.net/149945/palace-freebies-for-pagcor-ok

di ba pinamigay ni Genuino yung mga bigas nung kampanya ng anak nya?

Kintoy

February 22nd, 2012, 07:16 AM

kung may license na si Okada dito to operate, so di na nya kailangan i-bribe ang mga officials ng Pagcor.

afterlife00

February 22nd, 2012, 08:04 AM

^^ Meaning it's not intended as a bribe no? :lol: violent reaction nanaman kasi yung iba eh.

boncedrick

February 22nd, 2012, 01:47 PM

Murky past catches up with new PAGCOR
BY ROEL LANDINGIN

http://www.rappler.com/business/1687-murky-past-catches-up-with-new-pagcor#.T0TfQH0LSfo.twitter

sun-tex

February 22nd, 2012, 04:04 PM

walang evidence ang kay nuguiat,wala siyang tinangap, at wala rin siyang kinausap,wala ring taga pagcor na nakipagmeet dahil walang evidence

anonymous_filipino

February 22nd, 2012, 04:12 PM

Imbis na mag-away si Wynn at si Okada dahil sa Manila Bay Resorts (because Wynn is afraid that Manila Bay Resorts might take the chinese market from Wynn Macau and the future Wynn Cotai), Wynn should just think of investing at the PAGCOR City and construct his Wynn Manila Bay, and offer something better than Manila Bay Resorts. Kumbinsihin si Winnie the Pooh with an offer he couldn't resist. Make a healthy competition with Universal Entertainment. Tapos ang problema. Malay natin, kapag pumayag na si Winnie the Pooh na mag-invest si Wynn sa PAGCOR City, susunod na ang Las Vegas Sands, MGM, at Harrah's Entertainment.

boncedrick

February 22nd, 2012, 04:29 PM

^^ True. I agree with you @anonymous_filipino. This is the best we could hope for since that way, it could be more beneficial to our country.

miss the phils

February 22nd, 2012, 04:42 PM

anu ba yung construction pic? Belle?

watcher09

February 22nd, 2012, 05:24 PM

anu ba yung construction pic? Belle?

Belle, with those buildings with the same heights; the other one is Solaire.

todjikid

February 22nd, 2012, 11:02 PM

Ang bobo ng ABS CBN anchor ng Umagang Kay Ganda at Unang Hirit...di nila makita ang angulo na si WYNN ay may motibong pigilan ang investment sa Manila Entertainment City. namp*cha naman.

InfinitiFX45

February 23rd, 2012, 01:13 AM

PAGCOR claims 'standard reciprocity' in visit of its execs to Macau resort :ohno: :bash: :bash: :bash:

by CECIL MORELLA | GMA News (Agence France Presse) | February 23, 2012 | 4:10am

The Philippine Amusement and Gaming Corporation (PAGCOR) and Malacañang confirmed Wednesday that top PAGCOR officials accepted free luxury accommodation from a Japanese tycoon but denied these were bribes to ensure a new Manila casino was built.

US-based Wynn Resorts filed a suit on Tuesday accusing Kazuo Okada of spending more than $110,000 in travel expenses and gifts on the officials so that his mega-gaming venue in Manila went ahead.

PAGCOR, the Philippines' gaming regulator, awarded a license to Okada's Universal Entertainment in 2008 to build a gaming resort on the shores of Manila Bay featuring 2,000 guest rooms and three hotels.

http://www8.gmanews.tv/webpics/v3/2012/02/naguiat-okada.jpg

PAGCOR Chairman Cristino Naguiat Jr. (3rd from right) and resort developer Kazuo Okada (center, in barong) lower into the ground the time capsule at the project site of Okada's resort-casino complex in the PAGCOR Bagong Nayong Pilipino Entertainment City in the Manila Bay reclaimed area on January 26, 2012. Earl Victor Rosero

Read More: http://www.gmanetwork.com/news/story/249052/news/nation/pagcor-claims-standard-reciprocity-in-visit-of-its-execs-to-macau-resort?ref=bannerh1

InfinitiFX45

February 23rd, 2012, 01:30 AM

Philippines denies casino graft :ohno: :bash: :bash: :bash:

by Cecil Morella | ABS-CBN News (Agence France-Presse) | Thursday | 02/23/2012 | 6:54 AM

MANILA - Philippine authorities confirmed Wednesday that top gaming officials accepted free luxury accommodation from a Japanese tycoon but denied these were bribes to ensure a new Manila casino was built.

US-based Wynn Resorts filed a suit on Tuesday accusing Kazuo Okada of spending more than $110,000 in travel expenses and gifts on the officials so that his mega-gaming venue in the Philippine capital went ahead.

The suit against Okada, a director of Wynn with a 19.7-percent stake in the firm, alleged the suspect payments were made to two chairmen of the Philippine Amusement and Gaming Corporation (Pagcor) from 2008 to last year.

Read More: http://www.abs-cbnnews.com/business/02/22/12/philippines-denies-casino-graft

noypiblazer

February 23rd, 2012, 01:43 AM

^^ ayan na nga ba sinasabi ko eh, Naguiat aka Winnie the Pooh laging tinitira si Efraim Genuino, ayan tuloy nag ricochet tuloy kay Winnie the Pooh ang mga bintang....ang tawag dyan...KARMA. anak ng teteng, meron papalang nanny itong si Winnie the Pooh, sino kaya ang nanny nya? ah alam ko na, ang nanny nya ay walang iba kundi si.....

MARY POPPINS !
http://images2.makefive.com/images/entertainment/movies/best-movies-of-all-time/mary-poppins-7.jpg

InfinitiFX45

February 23rd, 2012, 01:44 AM

Japanese tycoon bribed Pagcor execs: US suit :ohno: :bash: :bash: :bash:

by ABS-CBN News (Agence France-Presse) | Wednesday | Updated 02/22/2012 | 8:35 PM

WASHINGTON - Japanese gambling tycoon Kazuo Okada was accused Tuesday in a US lawsuit of paying off Philippine regulators and cheating his powerful Las Vegas partner.

Wynn Resorts said Okada, Japan's pachinko king and a director of Wynn, went behind the company's back to develop business for his own Universal Entertainment in the Philippines and broke US laws on foreign bribery, the lawsuit alleges.

http://www.abs-cbnnews.com/sites/default/files/a_images/wires/reuters/022212_okada.jpg
Kazuo Okada, chairman of Universal Entertainment Corp, is seen during the ground breaking ceremony of its casino-hotel projects in Manila in this January 26, 2012 file photo. / REUTERS

Wynn said Okada spent more than $110,000 to curry favor with two Philippines officials in apparent violation of the US Foreign Corrupt Practices Act, jeopardizing Wynn's own reputation in the process.

"Mr. Okada, his associates and companies appear to have engaged in a longstanding practice of making payments and gifts to his two chief gaming regulators at the Philippine Amusement and Gaming Corporation (Pagcor), who directly oversee and regulate Mr. Okada's provisional licensing agreement to operate in that company," the lawsuit said.

It named former Pagcor chairman Efraim Genuino and current Chairman Cristino Naguiat, and their families, as the recipients of the payoffs, which dated to 2008.

Read More: http://www.abs-cbnnews.com/business/02/21/12/japanese-gambling-tycoon-bribed-filipinos-us-suit

InfinitiFX45

February 23rd, 2012, 01:49 AM

Nothing wrong with freebies for Pagcor execs: Palace :ohno: :bash: :bash: :bash:

by ABS-CBNnews.com | Wednesday | Updated as of 02/22/2012 | 9:08 PM

MANILA, Philippines (UPDATE) - Malacañang does not see anything wrong with free accommodations at a $6,000-a-night hotel room and other alleged perks received by Philippine Gaming and Amusement Corp. (Pagcor) chairman Cristino Naguiat Jr. from a Japanese billionaire.

Presidential spokesperson Edwin Lacierda said this is acceptable as long as Naguiat and other officials do not profit personally from these free accommodations.

He even noted that gaming officials receiving free accommodation is an “industry practice” and has helped the government save on costs.

"It's an industry practice as long as you don't profit from it personally; as long as it is done because it's a practice that you provide accommodations for each other. Again, like what we mentioned yesterday, it would be more expensive for us to pay for all the expenses and since it's already an industry practice and Mr. Bong Naguiat never profited from it personally, this is something that is peculiar to the gaming industry," Lacierda said.

Read More: http://www.abs-cbnnews.com/business/02/22/12/nothing-wrong-freebies-pagcor-execs-lacierda

InfinitiFX45

February 23rd, 2012, 02:55 AM

US suit tags Pagcor execs :ohno: :bash: :bash: :bash:

Naguiat, Genuino deny wrongdoing

by Daxim L. Lucas | Philippine Daily Inquirer | Thursday | February 23rd, 2012 | 12:17 am

http://globalnation.inquirer.net/files/2012/02/Naguiat-genuino-300x225.jpg
Pagcor Chairman Cristino Naguia and former Pagcor chairman Efraim Genuino. INQUIRER FILE PHOTO

The chairman of state-owned Philippine Amusement and Gaming Corp. (Pagcor) on Wednesday denied allegations made by an owner of US-based casino giant Wynn Resorts that he had received undue perks and favors from a Japanese businessman.

Cristino Naguiat Jr., also the Pagcor CEO, said his name was being dragged into a boardroom fray between two gaming magnates.

Naguiat said he did not receive a pricey Chanel bag meant for his wife from pachinko tycoon Kazuo Okada during a visit to Macau in September 2010.

He acknowledged that he found a Chanel bag delivered to his room after his return from one of his business meetings, but said that he returned it promptly to his hosts.

Naguiat explained that he had casually told his liaison—one of Okada’s staffers— that he wanted to surprise his wife with a Chanel bag and was astonished to find one delivered to his room later on.

Read More: http://globalnation.inquirer.net/26409/us-suit-tags-pagcor-execs

InfinitiFX45

February 23rd, 2012, 03:10 AM

Pagcor Execs Named In Las Vegas Suit :ohno: :bash: :bash: :bash:

by Manila Bulletin | Wednesday | February 22, 2012 | 7:45pm

WASHINGTON (Bloomberg) — Wynn Resorts Ltd. accused Japanese billionaire Kazuo Okada of putting up a top official of the Philippine Amusement and Gaming Corp. (Pagcor) in a $6,000-a-day suite in Macau as part of a series of payments that the company said appear to have violated US anti-bribery law.

Okada’s Universal Entertainment Corp. improperly gave more than $110,000 in payments and gifts to two chief gambling regulators in the Philippines and their families, according to a report prepared for Wynn Resorts and filed Feb. 19 with a lawsuit against Okada in state court in Nevada.

The lawsuit named former Philippine Amusement and Gaming Corporation (Pagcor) chairman Efraim Genuino and current Chairman Cristino Naguiat, and their families, as the recipients of the payoffs, which dated to 2008.

Okada, his associates and companies made three dozen improper payments, including a four-day stay by Naguiat in the most expensive room at Wynn Resorts Macau, according to a report by Freeh Sporkin & Sullivan LLP. The room, known as Villa 81, covers 7,000 square feet, the report said.

“Naguiat’s luxury stays at Wynn Resorts facilities were fully known to Mr. Okada, who actively involved himself in some of the arrangements,” according to the report, prepared by former Federal Bureau of Investigation director Louis Freeh.

Read More: http://www.mb.com.ph/articles/352231/pagcor-execs-named-in-las-vegas-suit

InfinitiFX45

February 23rd, 2012, 03:22 AM

Pagcor chief tagged in casino bribe row :ohno: :bash: :bash: :bash:

by Manila Standard Today | Thursday | February 23, 2012

WYNN Resorts has accused Japanese billionaire Kazuo Okada of putting up a Philippine Amusement and Gaming Corp. official in a $6,000-a-day suite in Macau as part of a series of payments that the company said appears to have violated US anti-bribery law.

Okada’s Universal Entertainment Corp. improperly gave more than $110,000 in payments and gifts to two chief gambling regulators in the Philippines and their families, according to a report prepared for Wynn Resorts and filed Feb. 19 with a lawsuit against Okada in state court in Nevada.

Okada, and his associates and companies made three dozen improper payments, including a four-day stay by Pagcor chairman Cristino Naguiat Jr. in the most expensive room at Wynn Resorts Macau, according to a report by Freeh Sporkin & Sullivan LLP. The room, known as Villa 81, covers 7,000 square feet, the report says.

“Naguiat’s luxury stays at Wynn Resorts facilities were fully known to Mr. Okada, who actively involved himself in some of the arrangements,” according to the report, prepared by former Federal Bureau of Investigation director Louis Freeh.

Read More: http://www.manilastandardtoday.com/insideNation_mstd.htm?f=//2012/february/23/nation1.isx&n=nation&d=/2012/february/23

InfinitiFX45

February 23rd, 2012, 03:32 AM

Philippine regulator denies casino graft :ohno: :bash: :bash: :bash:

by AFP | Manila Times | Wednesday | February 22, 2012 | 16:18

MANILA, Feb 22, 2012 (AFP) - The Philippines' gaming regulator confirmed Wednesday that top officials accepted free luxury accommodation from a Japanese tycoon but denied these were bribes to ensure a new Manila casino was built.

US-based Wynn Resorts filed a suit on Tuesday accusing Kazuo Okada of spending more than $110,000 in travel expenses and gifts on the officials so that his rival gaming resort in the Philippine capital went ahead.

The suit against Okada, a director of Wynn with a 19.7-percent stake in the firm, alleged the suspect payments were made to two chairmen of the Philippine Amusement and Gaming Corporation (Pagcor) from 2008 to last year.

The top officials' relatives and associates were also beneficiaries, as was the current chairman's nanny and the husband of then-president Gloria Arroyo, the suit alleged.

Read More: http://www.manilatimes.net/index.php/news/breaking-news/17737-philippine-regulator-denies-casino-graft

InfinitiFX45

February 23rd, 2012, 03:44 AM

Japan tycoon bribed Pagcor execs - US lawsuit :ohno: :bash: :bash: :bash:

by Delon Porcalla (The Philippine Star) | Thursday | February 23, 2012 | 12:00 AM

MANILA, Philippines - The owner of Wynn Macau casino accused Japanese gambling tycoon Kazuo Okada on Tuesday of paying off Filipino casino regulators in his bid to build a rival gaming resort in Manila.

Steve Wynn, 70, accused Okada, 69, of making improper payments and gifts totaling about $110,000 to Filipino casino regulators, as the latter’s Universal Entertainment Corp. broke ground at the 12-hectare Philippine Amusement and Gaming Corp. (Pagcor) Entertainment City in Manila Bay on Jan. 26.

Entertainment City is dubbed as Manila’s equivalent of the Las Vegas strip.

Okada said it was aiming to attract the same VIP Chinese gamblers Wynn has targeted at his five-year-old Macau casino.

He promised more than 2,000 guest rooms in three hotels, with the planned opening in the first half of 2014.

Las Vegas-based Wynn Resorts said in a lawsuit that Okada, Japan’s pachinko king and a director of Wynn, went behind the company’s back to build a stake in Asian gaming for his own Universal Entertainment group.

Wynn also accused Okada of spending more than $110,000 to curry favor with Philippine officials in apparent violation of the US Foreign Corrupt Practices Act, jeopardizing Wynn’s own reputation in the process.

The suit, filed Tuesday in Las Vegas district court, said that Okada had sought a gaming license in the Philippines and made the payments despite Wynn’s telling him not to do so.

Read More: http://www.philstar.com/Article.aspx?articleId=780239&publicationSubCategoryId=63

pomelo888

February 23rd, 2012, 04:12 AM

It sounds more like Wynn is retaliating against Okada with the Philippine/US lawsuit. After Wynn divorced his wife, the shares where split up between the couple and then Okada became the top Wynn shareholder. Feels like a power grab where Wynn is trying to regain control as majority shareholder by dissolving Okada shares using Pagcor for the reason. Okada filed a lawsuit in Nevada only last month.

http://www.lvrj.com/business/wynn-s-conflict-feels-quite-familiar-138283449.html

Wynn's conflict feels quite familiar

Posted: Jan. 29, 2012 | 2:02 a.m.

Spending habits by Wynn Resorts Ltd. Chairman Steve Wynn have angered investors -- namely, one extremely incensed Japanese billionaire who happens to be his largest stockholder, controlling almost 20 percent of the casino operator.

When Wynn Resorts board member Kazuo Okada filed suit in Clark County District Court on Jan. 11 to force the company to open its financial books and records, Wall Street became concerned.

"We believe the lawsuit will weigh heavy on shares," Sterne Agee gaming analyst David Bain warned investors the day after the legal action was revealed in a filing with the U.S. Securities and Exchange Commission.

A week after the lawsuit was filed, Okada submitted documents to the SEC in which he proposes to replace three current Wynn Resorts board members -- including two of Steve Wynn's closest confidants -- with his own slate of candidates.

Clearly, this is going to get uglier.

Sound familiar?

More than a decade ago, Steve Wynn lost control of Mirage Resorts under similar circumstances.

Shareholders blew a gasket in early 2000 when Mirage's stock price cratered. Wynn had spent millions of company dollars on his art collection while expensive developments, such as the $685 million Beau Rivage in Biloxi, Miss., didn't provide an adequate return on investment.

In March 2000, following a meeting between Wynn and billionaire developer Kirk Kerkorian, Mirage's board agreed to a $6.4 billion buyout by the then-MGM Grand Corp., in which Kerkorian held a 66 percent stake.

Longtime gaming observers are speculating that history is repeating itself.

The endgame for the current fight is the split between Wynn, who turned 70 on Friday, and Okada, the 68-year-old chairman of Japan-based slot machine maker Aruze USA.

Wynn began his comeback shortly after selling Mirage, and Okada was his first stockholder, with a $260 million investment through Aruze in 2000.

"These disputes sound to us like early divorce proceedings, which could be positive for Wynn shareholders," Nomura Securities gaming analyst Harry Curtis said.

Wynn and Okada once had equal stakes in Wynn Resorts. That changed when Wynn and his then-wife, Elaine, divorced in 2010. The Wynns split their shares, leaving each with 9 percent, much less than Okada's 19.66 percent.

However, Steve Wynn gained an amendment to the stockholders agreement that restricts Okada's shares and Elaine Wynn's stake. If Okada's attorneys can get a Clark County District Judge to toss the shareholders agreement, the ballgame changes dramatically.

Okada is questioning why Wynn agreed to donate $135 million from the company to the University of Macau Foundation. He believes some of the money came from an additional $120 million he invested in Wynn Resorts in 2002 for use toward Macau casinos. The company owns two Macau resorts and is looking to build a third.

padyakpinoy

February 23rd, 2012, 04:31 AM

Any update regarding the construction of this project? and not on politics...

noypiblazer

February 23rd, 2012, 04:51 AM

Any update regarding the construction of this project? and not on politics...

uh oh, another spoon feeder, mag backread ka na lang dude, this thread has the latest updates on this project :nuts::lol:

InfinitiFX45

February 23rd, 2012, 04:53 AM

Pagcor nixes casino graft involvement :ohno: :bash: :bash: :bash:

by AFP | Business World | Thursday | February 23, 2012

CLAIMS that local officials were lavished with gifts and accepted payoffs were denied yesterday by the Philippine Amusement and Gaming Corporation (Pagcor), which has been dragged into a high-stakes dispute between US-based casino and hotel operator Wynn Resorts, Ltd. and a Japanese investor.

Noting reports that Wynn Resorts had filed a lawsuit against Kasuo Okada, whose stake in the firm was forcibly redeemed earlier this week, Pacgor yesterday said, "The US lawsuit merely mentioned the allegation that Philippine gaming regulators received cash gifts from Mr. Okada."

The lawsuit filed on Tuesday accused Mr. Okada of spending over $110,000 in travel expenses and gifts on the officials so that a mega-gaming venue in Manila went ahead.

The suit against Mr. Okada, a director of Wynn with a 19.7% stake in the firm, alleged the suspect payments were made to two Pagcor chairman from 2008 to last year.

The top officials’ relatives and associates were also beneficiaries, as was the current chairman’s nanny and the husband of then-President Gloria Macapagal-Arroyo, the suit alleged.

Read More: http://www.bworldonline.com/content.php?section=TopStory&title=Pagcor-nixes-casino-graft-involvement&id=47227

NOVO ECIJANO

February 23rd, 2012, 05:15 AM

watcher09

February 23rd, 2012, 07:59 AM

nagulat si naguiat sa gastos ni Genuino sa pangkape sa mga casino players nang umupo siya,mas grabe pa ngayon ang ginagawa niya.
ito lang ang tunay na investment na pinapaniwalaan ko sa gobyernong ito mauudlot pa yata.

Okada confirmed to Naguiat that it's a go amidst the controversies. Afterall, it's Okada's money that he is investing and not Wynn's nor Wynn Resorts'.

It's not only Naguiat who was involved according to the lawsuit, but also Genuino. Prior posts are a worthwhile read. Go back to them friend.

pau_p1

February 23rd, 2012, 08:03 AM

Bosnyboy

February 23rd, 2012, 12:39 PM

Wynn is making all this fuzz kasi super threatened sya sa project ni Okada.. kaya tinitira niya ang pinakaobvious na pwedeng sumira sa reputation ni Okada.. ang bribery.. I doubt Wynn didn't try to bribe Macau when they built his casino there...

sana matalo yang si Wynn.. ehehehe

Correct. Pare pareho lang mga yan. Gambling is always known to be associated with underworld characters. As such something illegal would take place in order for such business to be put up. Im sure for every casino business anywhere, illegal money changed hands.

kimbap

February 23rd, 2012, 03:03 PM

i dont like winnie the pooh.. pero parang gusto ko sya ipagtanggol matuloy lang lahat ng to. ungas talaga yang Wynn na yan

DCRJ

February 23rd, 2012, 03:21 PM

I passed by the area this afternoon from MIA road turning right to Macapagal boulevard, Feb. 23, 2012 Thursday around 5:55pm and I saw those cranes....it's the area where Sta. Elena is developing the ground level of Pagcor city...the cranes in the shot are on the land to be vertically constructed by RWBayshore

http://a8.sphotos.ak.fbcdn.net/hphotos-ak-ash4/431181_3145055139835_1068719127_3114375_1370969094_n.jpg

http://a4.sphotos.ak.fbcdn.net/hphotos-ak-ash4/429298_3145055899854_1068719127_3114377_161984784_n.jpg

reign

February 23rd, 2012, 03:50 PM

Great , so nag start na pala ang construction ng RW Bayshore. Parang yung RW Manila dati walang masyadong publicity during its early phase of construction.

sun-tex

February 23rd, 2012, 04:01 PM

parang singapore ah, daming cranes!!!

InfinitiFX45

February 23rd, 2012, 04:16 PM

Palace draws flak for defending PAGCOR chief :ohno: :bash: :bash: :bash:

by Jing Castañeda, ABS-CBN News | Bev Lorente, ABS-CBN News North America Bureau Updated as of 02/23/2012 | 9:45 PM

MANILA, Philippines - Malacañang has drawn criticism for quickly defending Philippine Amusement and Gaming Corporation (PAGCOR) Chairman Cristino Naguiat Jr., who was accused of accepting bribes from gaming tycoon Kazuo Okada.

Economist Winnie Monsod and House deputy minority leader Mitos Magsaysay believe that President Benigno Aquino should have first ordered an investigation into the matter before defending Naguiat.

Naguiat is said to be a former classmate and close friend of Aquino.

"Look at both sides before making a judgment. Double standard e. Pag kaibigan, acquitted, pag kaaway, guilty," Monsod said.

"KKK [kaibigan, kaklase, kabarilan/friend, classmate, shooting buddy] na naman iyan kaya kinakampihan," Magsaysay said. "Laging naaabswelto sila e."

Read More: http://www.abs-cbnnews.com/nation/02/23/12/palace-draws-flak-defending-pagcor-chief

InfinitiFX45

February 23rd, 2012, 04:29 PM

US casino, turned off by corruption in PH :ohno: :bash: :bash: :bash:

by ABS-CBN News | Thursday | 02/23/2012 | 9:48 PM

Nang makausap ng ABS-CBN North America Bureau si Steve Wynn noong 2008, walang tigil ang papuri nito sa mga Pilipino.

Nagpahiwatig rin ang chairman ng Wynn Resort na kung mabibigyan ng pagkakataon, interesado siyang magtayo ng casino sa Pilipinas.

"My company in Macau has the most wonderful group of boys and girls from the Philippines, the best! The absolute best -- they're the most beautiful, they have the most wonderful smiles. The greatest service personality for hospitality in the world are the people of the Philippines,” sabi ni Wynn.

Read More: http://www.abs-cbnnews.com/video/nation/02/23/12/us-casino-turned-corruption-ph

InfinitiFX45

February 23rd, 2012, 04:35 PM

Wynn: Corruption 'ingrained' in PH gaming industry :ohno: :bash: :bash: :bash:

by Bev Llorente, ABS-CBN North America Bureau; and AFP
ABS-CBNnews.com | Thursday | Posted at 02/23/2012 6:05 PM | Updated as of 02/23/2012 10:29 PM

MANILA, Philippines - US-based Wynn Resorts said corruption was the main reason it rejected Japanese tycoon Kazuo Okada's repeated requests to form a joint venture in the Philippines.

The famous casino operator revealed this in a suit it filed on Tuesday wherein it accused Okada, co-founder and director of Wynn with 19.7% stake in the firm, of spending thousands of dollars in travel expenses and gifts on officials of Philippine gaming regulator, Philippine Amusement and Gaming Corp. (Pagcor).

In the said complaint filed before the district court of Nevada, Wynn said it commissioned its own investigation to assess the gaming industry in the Philippines.

As early as 2011, it said it had come to a conclusion that corruption was "deeply ingrained" in the industry, and even President Aquino's plans for reforms would not eliminate it.

It added that the Philippines' legal and regulatory framework was not closely aligned with US transparency standards.

Read More: http://www.abs-cbnnews.com/business/02/23/12/wynn-corruption-ingrained-ph-gaming-industry

InfinitiFX45

February 23rd, 2012, 04:41 PM

'Pagcor chief committed no ethical violation' :ohno: :bash: :bash: :bash:

by Willard Cheng | ABS-CBN News and Agence France-Presse | Thursday | Posted at 02/23/2012 2:48 PM | Updated as of 02/23/2012 6:51 PM

MANILA, Philippines - Malacañang once again came to the defense of Philippine Amusement and Gaming Corp. (Pagcor) chairman Cristino "Bong" Naguiat, who stayed for free at a $6,000-a-night luxury villa in Macau courtesy of a Japanese billionaire.

Presidential spokesperson Edwin Lacierda on Thursday said Naguiat committed no ethical violations when he accepted free luxury accommodations at the Wynn Resort in Macau from Kazuo Okada, who is opening a casino in the Philippines.

Lacierda said Naguiat went to Macau as a "casino operator" attending a gaming convention for operators, and not as a "casino regulator."

"There is no ethical violation because he was there as a casino operator and not as a casino regulator. Again he couldn’t go there as a casino regulator because the 'provisional agreement' has already been signed in 2008 and he was there talking to several casino operators," he said.

Read More: http://www.abs-cbnnews.com/business/02/23/12/pagcor-chief-committed-no-ethical-violation

InfinitiFX45

February 23rd, 2012, 05:06 PM

Manila plan sparks Las Vegas boardroom war :ohno: :bash: :bash: :bash:

by Joyce Pangco Pañares with Bloomberg | Manila Standard Today | Thursday | February 23, 2012

Wynn Macau Ltd. will hold an emergency meeting of its board to discuss removing Japanese billionaire Kazuo Okada after parent Wynn Resort Ltd. accused him of illegal payments to Philippine gambling regulators.

“I don’t think the time has been confirmed yet, but we are talking about” an emergency meeting in Macau, said Allan Zeman, vice chairman of the unit.

“I’m still waiting to hear from the lawyers here.”

Wynn Resorts chairman and chief executive Steve Wynn will convene an emergency meeting with Wynn Macau directors, Reuters reported earlier, citing people it didn’t identify. Okada, the 69-year-old chairman of Universal Entertainment Corp., has denied Wynn’s allegation he violated US laws by making payments to members of Philippine Amusement and Gaming Corp.

Read More: http://www.manilastandardtoday.com/insideNews_mstd.htm?f=//2012/february/24/news6.isx&n=news&d=/2012/february/24

InfinitiFX45

February 23rd, 2012, 05:20 PM

Pagcor chief: I'm collateral damage in tycoon war :ohno: :bash: :bash: :bash:

by Helen Flores | The Philippine Star | Friday | Updated February 24, 2012 12:00 AM

MANILA, Philippines - Philippine Amusement and Gaming Corp. (Pagcor) chairman and chief executive officer Cristino Naguiat Jr. yesterday said he has become “collateral damage” in the widening legal battle between two casino giants.

Naguiat also expressed concern on the possible effects of the bribery issue on the agency’s $5-billion Entertainment City project in Manila Bay.

Wynn Resorts Ltd. chief executive Steve Wynn on Monday filed a lawsuit against his partner, Japanese gambling tycoon Kazuo Okada, for violating the US Foreign Corrupt Practices Act.

Okada, who has a $2-billion investment in Entertainment City in Manila Bay, allegedly spent more than $110,000 to curry favor with Pagcor officials.

“Basically it is a battle between two tycoons and I’m the collateral damage here,” Naguiat told select members of the press. “It’s a corporate battle, naiipit kami dito (We are caught in the middle).”

Read More: http://www.philstar.com/Article.aspx?articleId=780608&publicationSubCategoryId=63

InfinitiFX45

February 23rd, 2012, 05:55 PM

Melco Crown wants slice of Manila casino project pie :cheers: :banana:

by Gambling Peoples News | Tuesday | February 21, 2012

Macau based casino operator Melco Crown Entertainment has expressed interest in a $1 billion Manila casino project, the Philippine gambling regulator Pagcor said yesterday.

In a report by Reuters, the firm run by Australian billionaire James Packer and son of Macau gambling tycoon Stanley Ho was “very interested” in the project according to chairman of the state-owned Philippine Amusement & Gaming Corp (Pagcor), Cristino Naguiat.

That wasn’t all the gossip Reuters managed to bag from the chairman either – he also let on that Hong Kong-listed Galaxy Entertainment Group Ltd was eyeing up a project in the 100-hectare Entertainment City near Manila Bay, which will begin construction late next year.

As Macau’s largest casino operator, Pagcor awarded four licenses in 2008 and the following year in 2009 to operate casino resorts in the Manila Bay area. Pagcor is rubbing its hands together at this prospect as it expects the resorts to generate annual gambling revenue of up to $11 billion after five years of operation. If that happens, it would overtake Las Vegas – something Pagcor is gagging to do.

When asked if Melco was looking for local partners, Naguiat didn’t know for sure but he did say in Reuters’ report that Galaxy was in talks with local groups and “could be” in discussions with local property and leisure firm Belle Corp – controlled by the country’s richest man Henry Sy – for a partnership.

According to reports, three other groups are pursuing developments in Entertainment City, including Japan’s Universal Entertainment Corp and their enormous $2 billion casino-hotel project set for completion in 2014.

Source: http://gamblingpeoples.com/news/6476-melco-crown-wants-slice-of-manila-casino-project-pie.html

InfinitiFX45

February 23rd, 2012, 07:24 PM

Melco interested in $1 bln Manila casino project :cheers: :banana: :banana: :banana:

by Erik dela Cruz | Reuters | Tuesday | Feb 21, 2012 | 5:51am EST

http://s1.reutersmedia.net/resources/r/?m=02&d=20120221&t=2&i=573365517&w=460&fh=&fw=&ll=&pl=&r=ALNE81K0U6D00
Kazuo Okada (3rd R), chairman of Universal Entertainment Corp, pushes the button with other local officials during the ground breaking ceremony of its casino-hotel projects in Manila January 26, 2012. Credit: Reuters/Romeo Ranoco

MANILA (Reuters) - A casino operator run by Australian billionaire James Packer and the son of Macau gambling tycoon Stanley Ho has expressed interest in investing in a $1 billion Manila casino project, the Philippine gambling regulator said on Tuesday.

Macau-based Melco Crown Entertainment Ltd MPEL.0 was "very interested" in the project, Cristino Naguiat, chairman of the state-owned Philippine Amusement & Gaming Corp (Pagcor), told Reuters after meeting with Melco officials last week in Manila.

He said Hong Kong-listed Galaxy Entertainment Group Ltd (0027.HK) was also interested in a project in the more than 100-hectare Entertainment City near Manila Bay, construction of which is to begin late next year.

Pagcor, the country's largest casino operator, awarded four licenses in 2008 and 2009 to operate casino resorts in the Manila Bay area. Pagcor expects the resorts to generate annual gambling revenue of as much as $11 billion after five years of operation, overtaking Las Vegas.

Pagcor requires a minimum investment of $1 billion from any firm awarded a gaming license, Naguiat said.

CASINO RESORTS

Naguiat did not know if Melco was looking for local partners, but said Galaxy was in talks with local groups and "could be" in discussions with local property and leisure firm Belle Corp (BEL.PS) for a partnership.

Belle, controlled by the country's richest man Henry Sy, was looking to lease at least 10 hectares of land from Pagcor for its second casino project in Entertainment City. The project could also cost $1 billion.

Belle is building an integrated entertainment resort complex called Belle Grande Manila Bay, which features a 30,000-square-metre casino, within the Entertainment City.

Three other groups are pursuing developments in Entertainment City, the biggest being the $2 billion casino-hotel project being built by a unit of Japan's Universal Entertainment Corp (6425.OS) set for completion in 2014.

The other developers are Bloomsbury Investments and the joint venture between Genting Hong Kong Ltd (0678.HK) and Alliance Global Group (AGI.PS).

Naguiat said Universal Entertainment remained interested in pursuing its Philippine project despite a much-publicised fight between Japanese gaming mogul Kazuo Okada and his former business partner, Las Vegas casino tycoon Steve Wynn.

Okada owns Universal Entertainment and Wynn is chief executive at Wynn Resorts Ltd (WYNN.O). Both claim the other made improper payments to win favour in their respective Macau and Philippines markets.

"I don't know what's going on between Mr. Okada and Mr. Wynn. We have to be outside that fight, Naguiat said. "From the way I look at it, there was nothing wrong with our transactions with Mr. Okada.

Naguiat said he had discussed the issue with Okada, who promised to pursue his Philippine project. "No change in plans, everything will push through."

Pagcor grew its total revenues by 16.5 percent to a record 36.7 billion pesos last year. It expects revenues to grow at least 16 percent this year.

Source: http://www.reuters.com/article/2012/02/21/uk-philippines-melco-idUSLNE81K01F20120221

todjikid

February 23rd, 2012, 08:12 PM

noypiblazer

February 24th, 2012, 02:17 AM

noypiblazer

February 24th, 2012, 02:21 AM

Great , so nag start na pala ang construction ng RW Bayshore. Parang yung RW Manila dati walang masyadong publicity during its early phase of construction.

hindi pa nag start ang construction ng resorts world bayshore 'tol. dinedevelop pa lang daw yung kalye and water pipes by the construction firm sta. elena

http://santaelenaconstruction.com/yahoo_site_admin/assets/images/sta_elena_official_logo.184210844_logo.jpg
http://santaelenaconstruction.com/

sta. elena ang developer...road pavements, pipe laying...kumbaga ground works palang wala pang groundbreaking ang travelers/global alliance

Kintoy

February 24th, 2012, 07:24 AM

from New York Times:

The fight between the casino magnate Stephen A. Wynn and his erstwhile friend and business partner, Kazuo Okada, is a war over money, and lots of it.

A $135 million donation to the University of Macau here and a $2 billion casino complex in the Philippines are only the tip of the iceberg. And then there’s a hotel suite in the Wynn Resorts Macau with some eye-popping figures of its own: a $6,000-a-night 7,000-square-foot palace...

http://dealbook.nytimes.com/2012/02/23/the-wynn-fight-and-the-6000-a-night-high-rollers-suite/

NOVO ECIJANO

February 24th, 2012, 07:39 AM

but one thing i like here despite of the controversy is their strong desire to invest here.and the constructions going on are the proof.tourism is our country's future.

InfinitiFX45

February 24th, 2012, 01:53 PM

Naguiat: Bribery claim not true :ohno: :bash: :bash: :bash:

by ABS-CBNnews.com | Friday | Posted at 02/24/2012 4:15 PM | Updated as of 02/24/2012 5:30 PM

MANILA, Philippines (UPDATE) - Philippine Amusement and Gaming Corp. (PAGCOR) chairman and CEO Cristino Naguiat Jr. on Friday denied any involvement in the bribery case against Japanese businessman Kazuo Okada in the US, saying the allegations against him are politically motivated.

Naguiat and former PAGCOR chair Ephraim Genuino were identified in a lawsuit filed by Las Vegas-based Wynn Resorts Ltd. against Okada as the two PAGCOR heads for whom the Japanese tycoon spent $110,000 so his business venture in the Philippines went ahead.

"This is a business dispute into which I have been dragged," Naguiat said in a statement. "The recent allegations against me are outrageous, politically motivated and untrue."

Naguiat did not deny receiving perks from Wynn Resorts during a five-day visit to Macau in 2010, but he stressed these were limited to hotel accommodations.

He said he did not receive $20,000 cash advance for shopping and gaming, and knew nothing of the $110,000 alleged cash gifts made to PAGCOR.

Read More: http://www.abs-cbnnews.com/business/02/24/12/naguiat-bribery-issue-not-true-politically-motivated

InfinitiFX45

February 24th, 2012, 02:03 PM

Analysis: Wynn-Okada row may not stick with US officials :ohno: :nuts: :nuts: :nuts:

by ABS-CBN News (Reuters) | Posted at 02/24/2012 2:57 PM | Updated as of 02/24/2012 | 2:57 PM

WASHINGTON/MACAU - A U.S. law against foreign bribery is the unusual weapon of choice in an increasingly bitter boardroom struggle between U.S. casino mogul Steve Wynn and Japanese investor Kazuo Okada. But both sides may end up shooting blanks.

Kazuo Okada, chairman of Universal Entertainment Corp, speaks during the ground-breaking ceremony of its casino-hotel projects in Manila January 26, 2012./ REUTERS

Okada last month accused Wynn Resorts Ltd of making an "inappropriate" $135 million donation to the University of Macau, based in the former Portuguese colony that is now the world's largest gambling destination.

Read More: http://www.abs-cbnnews.com/business/02/24/12/analysis-wynn-okada-row-may-not-stick-us-officials

InfinitiFX45

February 24th, 2012, 02:08 PM

Okada refuses meeting on eve of Wynn ouster :ohno: :bash: :bash: :bash:

by Ronald Grover and Sue Zeidler | Reuters (ABS-CBN News) |Posted at 02/24/2012 12:21 PM | Updated as of 02/24/2012 | 2:40 PM

LOS ANGELES - Japanese investor Kazuo Okada, embroiled in a legal battle with Wynn Resorts CEO Steve Wynn, a long-time business partner, over alleged improper payments made to Philippine regulators, says he will not attend a Friday meeting scheduled to oust him from the board of Wynn Macau.

In a letter to the board of Wynn Resorts' Macau unit, a copy of which was provided to Reuters, Okada disagreed with that impending decision and said his attendance would be meaningless as his ejection at the Macau meeting was all but certain.
The Asian billionaire, who helped bankroll Steve Wynn's empire through a long friendship, again blasted an internal company report released this week that alleged multiple instances of improper behavior by Okada.

"I do not want to embarrass you, as my colleagues, by forcing you to make false and defamatory statements about me in my presence," Okada wrote in the letter.

"I disagree with the decision to remove me as a director, because it is based on false and misleading assertions in a report that was created only to serve as a means to discredit me."

Wynn spokesman Charles Sipkins declined to comment.

Read More: http://www.abs-cbnnews.com/business/02/24/12/okada-refuses-meeting-eve-wynn-ouster

InfinitiFX45

February 24th, 2012, 02:18 PM

Casino mogul Wynn dumps Okada from Macau board :ohno: :bash: :bash: :bash:

by Farah Master | Reuters (ABS-CBN News) | Posted at 02/24/2012 2:38 PM | Updated as of 02/24/2012 | 2:38 PM

MACAU - Wynn Resorts CEO Steve Wynn ousted his former friend and billionaire partner Kazuo Okada from the board of his Wynn Macau casino, the latest twist in a legal battle that has implications for their multibillion-dollar businesses.

A board decision to un-seat Okada was effective immediately, the company said in a filing to the Hong Kong stock exchange on Friday.

"The board determined that it was obligated to remove Mr. Okada as a non-executive director given the unacceptable conduct by Mr. Okada, his employees and associates detailed in the independent report," it said, referring to an internal investigation by the company.

Wynn Resorts said earlier this week it forcibly redeemed Okada's nearly 20 percent stake in the company, adding the internal investigation by former FBI Director Louis Freeh revealed Okada, chairman of slot and pachinko gaming firm Universal Entertainment Corp (6425.OS), and associates violated U.S. anti-corruption laws.

Read More: http://www.abs-cbnnews.com/business/02/24/12/casino-mogul-wynn-dumps-okada-macau-board

InfinitiFX45

February 24th, 2012, 02:53 PM

Wynn Macau ousts Japanese tycoon Okada over alleged PHL corruption :ohno: :bash: :bash: :bash:

by BEH LI YIH | Agence France-Presse (GMA News) | Friday | February 24, 2012 | 1:55pm

HONG KONG — The board of casino operator Wynn Macau on Friday dumped Japanese gambling tycoon Kazuo Okada as a director over what it called "unacceptable conduct" involving alleged corruption in the Philippines.

The subsidiary of US-based Wynn Resorts said the board resolved to remove Okada as a non-executive director "with immediate effect," amid a bitter feud between the Japanese businessman and one-time partner Steve Wynn.

The company issued a statement to the Hong Kong stock exchange saying it felt "obliged" to sack Okada after an internal Wynn Resorts investigation accused him of bribing Philippine regulators in his bid to build a rival gaming resort in Manila.

Wynn Resorts said in a lawsuit filed Tuesday in a Las Vegas district court that Okada, Japan's pachinko king, went behind the company's back to secure a stake in Asia's booming gaming industry for his Universal Entertainment group.

Read More: http://www.gmanetwork.com/news/story/249273/economy/companies/wynn-macau-ousts-japanese-tycoon-okada-over-alleged-phl-corruption?ref=section_banner_full

InfinitiFX45

February 24th, 2012, 03:01 PM

Philippines’ gambling regulator denies bribery charge :ohno: :bash: :bash: :bash:

by: Daxim L. Lucas | Philippine Daily Inquirer | Friday | February 24th, 2012 | 8:04 pm

MANILA, Philippines — The head of the Philippine Amusement and Gaming Corp. (Pagcor) denied “in the strongest possible terms” Friday what he called “uninformed and reckless allegations” recently made against him by a US casino mogul.

The statement of Pagcor chairman and CEO Cristino Naguiat Jr. came after US casino operator Wynn Resorts sued its former partner Kazuo Okada in a Las Vegas court, accusing the latter of bribing Philippine gaming officials with free accommodations at a $6,000-a-night Macau hotel and a pricey Chanel bag for Naguiat’s wife.

In Wynn’s court filing, company officials also presented the results of a third-party probe the company t commissioned in January 2011 about the Philippine gaming industry.

In the report prepared by former Federal Bureau of Investigation director Louis Freeh, the Philippine gaming industry was described to have “deeply ingrained” official corruption.

The same report expressed “doubts that [then] newly elected President Benigno Aquino III’s stated plans for reform would eliminate corruption from the gaming industry.”

The government-owned Pagcor, apart from itself being a casino operator, regulates all gaming and gambling operations in the Philippines.

Read More: http://business.inquirer.net/46089/philippines-gambling-regulator-denies-bribery-charge

Bosnyboy

February 24th, 2012, 03:08 PM

InfinitiFX45

February 24th, 2012, 03:13 PM

Pagcor vows transparency in $4B project :ohno: :nuts: :nuts: :nuts:

Entertainment City licensees to follow strict rules

by: Daxim L. Lucas | Philippine Daily Inquirer | Friday | February 24th, 2012 |12:09 am

http://business.inquirer.net/files/2012/02/naguiat-300x225.jpg
CRISTINO NAGUIAT JR.: Level playing field INQUIRER FILE PHOTO
The state-run Philippine Amusement and Gaming Corp. on Thursday reiterated its commitment to undertake its Entertainment City project under the most rigid guidelines and the most exacting standards amid renewed scrutiny from the international investor community.

Pagcor’s reassurance came after its former and current chairmen were accused by a former partner of one of the licensees at its $4-billion flagship project of receiving undue perks and favors from Japanese gaming tycoon Kazuo Okada.

“If they’re saying that one group will be favored over another, that’s impossible,” Pagcor chairman and CEO Cristino Naguiat Jr. said in an interview with the Inquirer. “What we have here is a level playing field among all licensees in the project.”

Read More: http://business.inquirer.net/46031/pagcor-vows-transparency-in-4b-project

miss the phils

February 24th, 2012, 04:08 PM

anonymous_filipino

February 24th, 2012, 04:42 PM

miss the phils

February 24th, 2012, 05:28 PM

DCRJ

February 25th, 2012, 02:08 AM

oo nga naman...pag kaibigan acquitted, pag kaaway guilty, anak ng teteng talaga :nuts::nuts::nuts::nuts:
I love you WINNIE MONSOD ! :lol:

P-Noy’s ‘Daang Matuwid’ and Pagcor’s Naguiat
By: Solita Collas-Monsod
Philippine Daily Inquirer
9:23 pm | Friday, February 24th, 2012

Japanese billionaire and pachinko king Kazuo Okada and American gambling tycoon Steve Wynn used to be close business associates and are now engaged in a bitter legal fight. President Aquino and former President Gloria Macapagal-Arroyo used to be close political allies (maybe not so close) but are now the bitterest of enemies, engaged in even more deadly legal battles.
In the Okada-Wynn battle, Philippine Amusement and Gaming Corp. and its chair Cristino Naguiat Jr. have gotten caught in the crossfire, as Wynn has charged Okada with making illegal payments to him (Naguiat) and other Pagcor officials over a 3-year period. In the Aquino-Arroyo war, the latter is not only in jail (charged with electoral sabotage), but her “midnight” appointee Chief Justice Renato Corona is also standing trial on impeachment charges—and it can be argued that he, too, is caught in the crossfire.

Both Naguiat and Corona have averred their innocence, of course. What is remarkable, though, is that P-Noy has pronounced Naguiat innocent, with the same lightning speed with which he pronounced Corona guilty, in both instances seemingly satisfied with just hearing one side of the story (Corona still has to present his evidence). Such a rush to judgment in both cases is what makes me uncomfortable.

http://opinion.inquirer.net/23717/p-noy%E2%80%99s-%E2%80%98daang-matuwid%E2%80%99-and-pagcor%E2%80%99s-naguiat

pinas4real

February 25th, 2012, 03:16 AM

Yan kasi ang napala mo, Cristino Naguiat Jr., nang sabihin mong "We're better off without the American investors. We're going to focus with our ASEAN partners." Ginalit mo si Steve Wynn kaya nadamay ka sa away nila ni Kazuo Okada. You never know what to say in the media. Now look what happened to you. Because of what you said before with the media might put the Entertainment City project in jeopardy.

I think he already foresee or was told by Okada that this will happen and that US Casino operators will be reluctant now to put up their casinos in the Philippines since Wynn himself said that corruption exist.

pau_p1

February 25th, 2012, 03:24 AM

i think so too that he already has some idea about what's about to happen that's why he made that statement.. and I think his statement is not even published internationally but simply locally...

but I sort of agree with bosnyboy... as this happening is like a free advertisement for us that there is something worth investing back home for Okada to push through with all this happening... and now we see melco getting interested too...

afterlife00

February 25th, 2012, 06:27 AM

Na-post na ba to?

Aquino orders PAGCOR chief Naguiat probed on Okada bribery scandal

Gaming regulator Cristino Naguiat Jr. “will be asked to explain himself” when he goes under a investigation for supposedly receiving illegal gifts from Japanese gambling resort tycoon Kazuo Okada, President Benigno Aquino III said Friday.

Aquino said “(t)here is a formal process” Naguiat will undergo.

[Source] (http://www.gmanetwork.com/news/story/249330/news/nation/aquino-orders-pagcor-chief-naguiat-probed-on-okada-bribery-scandal)

carl_ty

February 25th, 2012, 08:28 AM

pero tuloy na tuloy parin ang construction ng MBR? tama ba?

pau_p1

February 25th, 2012, 08:31 AM

yup tuloy pa rin yan!

pinas4real

February 25th, 2012, 08:53 AM

In some ways I like whats happening now with regards to the controversy involving wynn and okada. Its because it draws international attention to the philippines and it's like a free ad, announcing that the philippines will be the next IT place when it comes to entertainment and tourism in general.

Well hopefully it would have a positive effect. But the problem is Wynn is using the Philippines in his fight with Okada. He is saying the reason he does not agree with Okada investing in the Philippines is the inherent corruption in the country. This would be a reflection of the difficulty of doing business in the country.

kier_vasallo

February 25th, 2012, 11:11 AM

plastic din yan wynn na yan may na basa ko dati about sa e-city puro magaganda sinabe na parang interesado sa maginvest un pala sya pa pumipigitl na maginvest dito si okada sana wagna silang magkaayos ng magpaganadahan sila ng casino satin si okada xa dun sa macau sa na talaga maging suc ang e-city :)

InfinitiFX45

February 27th, 2012, 01:17 AM

US SEC probing claims Okada bribed Pagcor officials :ohno: :bash: :bash: :bash:

by Nadia Trinidad, ABS-CBN News North America Bureau | Friday | Posted at 02/24/2012 10:10 PM | Updated as of 02/25/2012 11:35 PM

SAN FRANCISCO, USA - US authorities are investigating allegations made by casino giant Wynn Resorts that its director Kazuo Okada violated anti-bribery laws by paying off Philippine regulators.

The US Securities and Exchange Commission (SEC) is looking into claims that Okada reportedly spent more than $100,000 to curry favor from officials of the Philippine Amusement and Gaming Corporation (Pagcor), in apparent violation of the US Foreign Corrupt Practices Act.

These allegations were made in a lawsuit filed against Okada before the District Court of Nevada.

Read More: http://www.abs-cbnnews.com/business/02/24/12/us-sec-probing-claims-okada-bribed-pagcor-officials

InfinitiFX45

February 27th, 2012, 01:23 AM

Wynn Resorts' lawsuit against Kazuo Okada

http://htmlimg2.scribdassets.com/6qinhc7vsw1f3ixp/images/1-45c63cd317.jpg

Source: http://www.abs-cbnnews.com/business/02/24/12/us-sec-probing-claims-okada-bribed-pagcor-officials

InfinitiFX45

February 27th, 2012, 06:43 AM

rain34

February 27th, 2012, 08:55 AM

Battle Of Manila II: Caught In The Okada-Wynn Crossfire :ohno: :bash: :bash: :bash:

Numbers Don't Lie

by ANDREW JAMES MASIGAN | Manila Bulletin | Monday | February 27, 2012 | 4:29am

MANILA, Philippines — Last week, international news agencies Bloomberg, CNBC and Reuters ran stories implicating Pagcor Chairman Cristino Naguiat, Jr. for allegedly accepting bribes from Kazuo Okada, vice chairman of Wynn Resorts, Ltd. (of Las Vegas and Macau) and one of the four proponents of Pagcor’s Entertainment City-Manila.

It was very damaging news. Not only did it cast doubts on Pagcor’s ability to provide a level playing field for its investors in the Entertainment City, it also undermined this administration’s massive efforts to rid the bureaucracy of corruption.

What I found out after digging deeper into the issue was even more frustrating…we are just the sideshow to the bigger fight.

Read More: http://www.mb.com.ph/articles/352651/battle-of-manila-ii-caught-in-the-okadawynn-crossfire

I read the full article and I realize that this damaging claims of Wynn to our country could really be his way to defeat Okada. I say if all his claims are not true our government should sue Wynn for this. To derail a massive project, taint the reputation of our country, all this noise is going to affect our economy. Not only he made trouble for us right now, as per the article he made some as well to the Singaporean Gov't

This is clearly a case of corporate wrangling that put Naguiat, Pagcor and the reputation of the nation in question. This isn’t the first time Steve Wynn has done something like this. He also caused trouble for the Singaporean government following his lost bid to operate a gambling facility in the island state.

nhetz

February 27th, 2012, 09:21 AM

I read the full article and I realize that this damaging claims of Wynn to our country could really be his way to defeat Okada. I say if all his claims are not true our government should sue Wynn for this. To derail a massive project, taint the reputation of our country, all this noise is going to affect our economy. Not only he made trouble for us right now, as per the article he made some as well to the Singaporean Gov't

I strongly agree with you. So sad for our country which just started to walk to find her place in the world of entertainment and tourism business compared to other countries wherein they are already running and jumping for joy for the success they have achieved over the years.

I think this is Mr. Wynn's tactic of not losing Las Vegas the crown as the world's capital of gaming and entertainment which would surely affect his business empire in the US. This is what makes the difference between the Americans and the British. Compare the countries ruled in the past by the US and UK and see the BIG difference. (Just my opinion)

asc25dbtc

February 27th, 2012, 02:52 PM

^^I also agree:( I just don't understand why Wynn is filing a complaint to the present government even if the so called bribery happened in the arroyo gov't. and for me nothing's wrong with accepting privileges if ever the issue between naguiat is true. Wynn is just threatened because he has a casino in Macau which is near the Phl and he does not want Okada to pursue the project here because tourists might choose our country for we have so much more to offer.

reign

February 27th, 2012, 05:35 PM

Pagcor to study proposed ban vs casino magnate
By Helen Flores (The Philippine Star) Updated February 28, 2012 12:00 AM Comments (0)

MANILA, Philippines - The board of the Philippine Amusement and Gaming Corp. (Pagcor) will tackle the proposal of the House of Representatives’ committee on games and amusement to ban American casino magnate Steve Wynn from doing business in the country, following his allegations of bribery involving Pagcor officials.

“The matter will be taken up in the board meeting,” Pagcor assistant vice president for corporate communication Maricar Bautista told The STAR.

“We will abide by the decision of the Lower House,” Pagcor chairman and chief executive officer Cristino Naguiat Jr. said.

Wynn, chairman and chief executive officer of Wynn Resorts, accused his business partner Kazuo Okada of spending more than $110,000 in favors and perks to Pagcor officials, including Naguiat.

Okada has a $2-billion investment in the planned Entertainment City at the reclamation area near Manila Bay.

Naguiat, who attended yesterday the hearing of the House games and amusement committee, said investors remain on track in completing the $15-billion Pagcor Entertainment City in Parañaque City despite the court battle in the US between gaming moguls Wynn and Okada.

Okada, through an emissary, issued a statement before the House committee and apologized for dragging the country and its officials into his corporate squabble with Wynn.

Naguiat told reporters that Okada and other investors in Entertainment City remain “bullish” and the timetable to finish the complex before the end of President Aquino’s term remains on track.

He said Pagcor has already issued licenses to four proponents, including Okada’s Tiger Resorts, Leisure and Entertainment Inc., Travellers International Hotel Group, Bloomberry Resorts and Hotels, Inc., and SM Consortium.

Naguiat said Bloomberry is scheduled to open its resort by late this year or early 2013 while the consortium completes its complex.

Okada’s complex will open next and Travellers will finish in 2015.

“Let me add these two important factors in terms of tourists going to our country – first factor beaches… so that’s why we have Boracay, Cebu, we have Puerto Galera (Oriental Mindoro). Number two, tourists look for historical sites… (so) we have Intramuros, we have the Walled City, we have Corregidor. All the ingredients for tourism, for gaming is all here in the Philippines,” the Pagcor chief said.

He said a recent industry report on the Asian market stated the Philippines is the market to watch, and that if all the proponents finish their projects, the country can easily match or exceed gaming revenues of Macau, Singapore and Las Vegas.He said Macau earns about $35 billion in revenues annually; Singapore $6.5 billon; and Las Vegas, slightly lower than Macau.

The Philippines currently earns some $2 billion annually from Pagcor casinos.

But once Entertainment City is completed, the country can easily earn $10 billion in the second year of operations from gaming alone. Additional revenues can be had from tourism and other related expenses and the government stands to receive P100 billion per year from gaming operations, Naguiat said.

He and Manila Rep. Amado Bagatsing, chairman of the House panel, said Wynn booted out Okada and sued him in court for alleged corrupt practices because he wanted to derail the Entertainment City project, which threatens his casino operations in Macau and the US.

“What can Macau offer after gaming, nothing. What can Singapore offer after gaming, Universal Studios, period; what can the Philippines offer as far as tourism is concerned – Boracay, surfing, snorkeling, so many, we speak English… that’s why these other countries within the region really look at the Philippines as a threat, so I look at this machination of Mr. Steve Wynn as a direct affront on our country,” Bagatsing said.“What I’m saying is – look at the Philippines in totality, let’s look at the bigger picture rather than zeroing on what Wynn and company would like to project to the entire world, specially to the gaming world and to the investors,” he added.

Bagatsing said the allegation against Naguiat was merely intended to ruin the country’s reputation in the gaming industry.

Camarines Sur Gov. Luis Raymund Villafuerte said he supports Naguiat’s pro-tourism agenda.

“Gaming is a major way of attracting investors as well as tourists. Aside from this, we have seen in the past few years that Pagcor under chairman Naguiat has been instrumental in boosting local tourism, which translates into more jobs and livelihood for many of our countrymen,” Villafuerte said.

“We remain appreciative of what Pagcor and chairman Naguiat have done for Philippine tourism and we are saddened that the allegations leveled against him and other senior officials of the agency are not only affecting their work but also giving our country a bad image,” he said.

The committee unanimously approved a motion by Eastern Samar Rep. Ben Evardone to ban Wynn from conducting any business in the country, especially in casino and entertainment.
Lawmakers also asked Pagcor to extend to Okada and other investors of Entertainment City all assistance in facilitating government requirements.

Reading Okada’s statement in the House hearing yesterday, Masahiro Terada said Okada also cleared Naguiat of committing any wrongful act, even as he stressed that Wynn’s exposé insinuating that he had bribed the Pagcor official will not stop him from investing in Entertainment City.

“My resolve is strong and my confidence high to see through the completion of my vision to build a complex that we will all be proud of. Let us not allow those with selfish business interests against the Philippines to distract us from the noble objective of bringing progress to this country,” Okada said.
The Japanese gaming operator apologized for “putting the Philippines in bad light because of the derogatory” statements issued by Wynn.

todjikid

February 27th, 2012, 06:03 PM

whew this is good news. WYNN eat that.

chillendawg

February 27th, 2012, 07:26 PM

pau_p1

February 28th, 2012, 02:04 AM

let's vote on that... it should be approved as soon possible and this should be made known to the world... damn Wynn!!!

wolfdgreat

February 28th, 2012, 02:06 AM

Sana mabasa to nung mga mga kilalang personalidad ng ating bansa na humusga agad na hindi man lang pinagaralan ang mga mangyari at di pinagaralan ang magiging epekto ng kanilang mga komento.

DCRJ

February 28th, 2012, 02:08 AM

Naguiat said Bloomberry is scheduled to open its resort by late this year or early 2013 while the consortium completes its complex.

Okada’s complex will open next and Travellers will finish in 2015.

^^ good news indeed pero teka, mas interested ako sa statement na Travellers will finish in 2015. Resorts World Bayshore hasn't reported any groundbreaking yet and they will finish in 2015 ? :lol:

watcher09

February 28th, 2012, 02:10 AM

whew this is good news. WYNN eat that.

It really is. I like it when lawmakers asked Pagcor to extend to Okada and other investors of E-City all assistance in facilitating government requirements. Even the lawmakers are now keen in supporting these projects. Wynn didn't anticipate that. In other countries, such controversy would bring officials to decide on stopping the concerned projects.

InfinitiFX45

February 28th, 2012, 05:12 AM

Palace: Decision to quit up to PAGCOR chief :nuts: :nuts: :nuts:

by KG | GMA News| Monday | February 27, 2012 | 9:10am

Malacañang on Sunday said it is giving embattled Philippine Amusement and Gaming Corp. (PAGCOR) chairman Cristino Naguiat Jr. the prerogative of whether to heed calls for him to quit his post, in the wake of an alleged bribery scandal.

Deputy presidential spokesperson Abigail Valte said it is always up to the official concerned to respond to calls to quit or at least take a voluntary leave of absence.

“You’re familiar with this. Any call for resignation or any official to take a leave, we leave it to the discretion of that official how to take the call for resignation or voluntary leave,” she said on government-run dzRB radio.

Some sectors, including retired Lingayen-Dagupan Archbishop Oscar Cruz, had called on Naguiat to resign or at least take a leave in the wake of the supposed scandal.

Read More: http://www.gmanetwork.com/news/story/249528/news/nation/palace-decision-to-quit-up-to-pagcor-chief

InfinitiFX45

February 28th, 2012, 06:19 AM

Pagcor to study proposed ban vs casino magnate :nuts: :nuts: :nuts:

by Helen Flores | The Philippine Star | Tuesday | Updated February 28, 2012 12:00 AM

MANILA, Philippines - The board of the Philippine Amusement and Gaming Corp. (Pagcor) will tackle the proposal of the House of Representatives’ committee on games and amusement to ban American casino magnate Steve Wynn from doing business in the country, following his allegations of bribery involving Pagcor officials.

“The matter will be taken up in the board meeting,” Pagcor assistant vice president for corporate communication Maricar Bautista told The STAR.

“We will abide by the decision of the Lower House,” Pagcor chairman and chief executive officer Cristino Naguiat Jr. said.

Wynn, chairman and chief executive officer of Wynn Resorts, accused his business partner Kazuo Okada of spending more than $110,000 in favors and perks to Pagcor officials, including Naguiat.

Okada has a $2-billion investment in the planned Entertainment City at the reclamation area near Manila Bay.

Read More: http://www.philstar.com/Article.aspx?articleId=781918&publicationSubCategoryId=63

mphirez

February 28th, 2012, 07:58 AM

maiiba lang po ah...

Melco, Galaxy eye Manila
22/02/2012 10:29:00

Local gaming operator Melco Crown Entertainment may invest at least USD 1 billion (MOP 8 billion) in a Manila casino project, the Philippines’s top gambling regulator said yesterday.
The company, co-owned by Lawrence Ho Yau Lung, son of casino mogul Stanley Ho Hung Sun, and Australian billionaire James Packer, is “very interested” in the entertainment complex the government plans to build in the capital, Cristino Naguiat told Reuters.
The chairman of the Philippine Amusement & Gaming Corp. said he met with Melco officials last week in Manila but was not aware whether or not the company was looking for local partners.
Naguiat added that another Macau operator, Galaxy Entertainment Group had also expressed interest in the project. He revealed that the Hong Kong-listed company “could be” in discussions with Philippine property developer Belle Corp.
Belle Corp, controlled by the country’s richest man Henry Sy, received one of the four licenses awarded by the Philippines in 2008 and 2009 to operate casinos in the Manila gambling and entertainment complex.
The company is building Belle Grande Manila Bay, a casino estimated to cost around MOP 140 million, with 250,000 square metros of gross floor area and nearly 20,000 square metres of gaming space.
But Belle Corp. is already in negotiations with Philippine Amusement & Gaming Corp to acquire the rights to additional land to build a second casino project.
Each Philippine licensee agreed to invest USD 1 billion over five years, Naguiat said at that time. Two other licences were given to Philippine ports magnate Enrique Razon’s Bloombury Investments Holding Inc. and a venture between Genting Malaysia Bhd and Alliance Global Group Inc.
Melco is currently working with seven banks to arrange a loan of about MOP 10 billion to fund its Macau Studio City resort project in Cotai. Galaxy opened its resort in Cotai last May but Galaxy Macau only takes up one third of the area granted by the government.

noypiblazer

February 28th, 2012, 08:13 AM

Kintoy

February 28th, 2012, 10:12 AM

afterlife00

February 28th, 2012, 12:11 PM

^^ Such defensive action. May have its pros and cons.

manila_eye

February 28th, 2012, 01:42 PM

i totally agree. the house resolution is very defensive. naguiat didn't really tell the whole story... please see the link below

Daang medyo matuwid (http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=781540)
DEMAND AND SUPPLY By Boo Chanco

For one thing, why would Naguiat try to conceal his real identity? He must feel what he is doing isn’t exactly kosher. For another, his hosts were horrified at the costs of his “courtesies” after the fact, proof it was not “industry practice”. Here are pertinent excerpts from that report as published by the New York Times:

“September 22, 2010 (14:00): Wynn Macau sends 1 Rolls Royce and 1 Elgrand to the airport, along with Masato Araki, Special Assistant to Mr. Okada; and Kenichiro Watanabe, another Universal associate, to meet arriving party, who arrived on Philippine Airline Flight 352 from Manila. They return with Chairman Cristino L. Naguiat, Rogelio Bangsil and Jeffrey Opinion at 14:45.79.

“Only Mr. Bangsil furnishes his name upon registration. Ms. Lai and Wynn Macau VIP Services Manager Beatrice Yeung thereafter checks PAGCOR website and identifies Chairman Naguiat’s name from his picture there. Ms. Yeung’s log and ongoing entries refer to ‘[I]ncognito (Mr. Naguiat, Cristino L.).’ Chairman Naguiat occupies Villa 81, the most expensive accommodation at Wynn Resorts Macau (about 7,000 square feet in size, which then cost about US $6,000 per day and is mostly reserved for ‘high rollers’).

“September 22, 2010: the Wynn Encore log book reflects “Incognito (Mr. Naguiat) stayed in Villa 81 Master Bedroom l.

“The testimonial and documentary evidence also shows that despite deliberate attempts to conceal Chairman Naguiat’s identity while a guest at Wynn Resorts Macau in September 2010, hotel staff, acting on their own, soon identified Chairman Naguiat by means of a photo from the PAGCOR website. Their interest in doing so was sparked by the fact that the senior PAGCOR guest known to them, Mr. Bangsil, exercised great deference to Chairman Naguiat, who the staff determined must be the ‘boss’. Nevertheless, the VIP service providers continued to refer to Chairman Naguiat only as ‘sir,’ thereby following the wishes and directions of Chairman Naguiat and Mr. Okada’s associates.

“The evidence also shows that several weeks after Chairman Naguiat’s intended ‘Incognito’ stay at Villa 81, Mr. Okada’s associates became concerned about the high cost of Chairman Naguiat’s luxury stay at Wynn Resorts Macau. Specifically, Mr. Okada’s associate advised Wynn Resorts Macau that the amount being charged for Chairman Naguiat’s stay was too much over an ordinary business expense.

“Mr. Okada’s associate then asked if Wynn Resorts Macau ‘could reconsider the matter [Chairman Naguiat’s stay] and charge us [Mr. Okada’s company] the original rate [and free upgrade to a Villa] since the party directly dealing with on this matter is our company [Mr. Okada’s company] rather than each individual guest [Chairman Naguiat].’

“Mr. Okada’s associate further stated that ‘since the amount charged [for Chairman Naguiat] is too much beyond the ordinary room charge, our company [Mr. Okada’s company] will be put in a very difficult position to give reasonable explanations if we are inquired by someone.’”

-SNPKLSDMBLDR-

February 28th, 2012, 01:45 PM

xxwreleygG8

Moneytrans

February 28th, 2012, 02:01 PM

Sana magkatotoo ito ? proud philippines....

Jose Mari

February 28th, 2012, 02:09 PM

House resolution banning Steve Wynn approved

THE HOUSE committee on games and amusement has approved a resolution banning casino operator Steve Wynn from conducting business in the Philippines, following the mogul’s accusations that Philippine gaming regulators were bribed by another tycoon.

http://www.bworldonline.com/content.php?section=Nation&title=House-resolution-banning-Steve-Wynn-approved&id=47464

Knee-jerk reactions na mukang hindi nanaman ginagamit ng gobiyerno ang kokote. :ohno:

Dapat imbestigahan muna kung may basehan talaga ang accusations at allegations ni Wynn. Mamaya e totoo nga... mukang TANGA at GAGO nanaman ang kalalabasan ng Pilipinas kung ganoon. Hindi kayang pagtakpan yan kung totoo kasi lalabas at lalabas din ang katotohanan sa huli.

Kung napatunayang walang kabuluhan... diyan kayo mag-ingay... diyan kayo mag-astang nilapastangan... tsaka niyo tirahin 'yan si Wynn. Kung baga sasabak kayo sa giyera dala niyo lang batuta at laway. Sanay na yang greeding hayop na yan sa ganyang labanan... kailangan siguraduhin niyo munang may laban kayo bago niyo patulan para for once naman ay di mag mukang tanga ang Pilipino (LRT, NAIA III, Northrail, AFP Modernization, etc.) ... hay naku ano ba yan?

That's sending all the wrong kind of signals to prospective investors not only from the US but from everywhere else in the world. It shows how shoddily we do business here in this country... hindi lang magmumukang mga amateurs... corrupt pa!

NOVO ECIJANO

February 28th, 2012, 02:19 PM

Knee-jerk reactions na mukang hindi nanaman ginagamit ng gobiyerno ang kokote. :ohno:

Dapat imbestigahan muna kung may basehan talaga ang accusations ni Wynn. Mamaya e totoo nga... mukang TANGA at GAGO nanaman ang kalalabasan ng Pilipinas kung ganoon. Hindi kayang pagtakpan yan kung totoo kasi lalabas at lalabas din ang katotohanan sa huli.

Kung napatunayang walang kabuluhan... diyan kayo mag-ingay... diyan kayo mag-astang nilapastangan... tsaka niyo tirahin 'yan si Wynn. Kung baga sasabak kayo sa giyera dala niyo lang batuta at laway. Sanay na yang greeding hayop na yan sa ganyang labanan... kailangan siguraduhin niyo munang may laban kayo bago niyo patulan para for once naman ay di mag mukang tanga ang Pilipino (LRT, NAIA III, Northrail, AFP Modernization, etc.) ... hay naku ano ba yan?

That's sending all the wrong kind of signals to prospective investors not only from the US but from everywhere else in the world. It shows how shoddily we do business here in this country... hindi lang magmumukang mga amateurs... corrupt pa!

exactly,hes an investor if hes not welcome here,ang daming mag iinvite sa kanya.

DCRJ

February 28th, 2012, 02:28 PM

xxwreleygG8

:cheers: share this video on your blogs, facebook, other forums. spread the good word and let everyone know that there's such a place that will rise in the Philippines called Manila Bay Resorts :banana:

Juan Pilgrim

February 28th, 2012, 02:47 PM

Bosnyboy

February 28th, 2012, 03:10 PM

Totally mature of them to do so. Really wise, What a bunch of morons and stoopids

Bosnyboy

February 28th, 2012, 03:15 PM

let's vote on that... it should be approved as soon possible and this should be made known to the world... damn Wynn!!!

Ha? That resolution of congress banning mr wynn is just downright childish. Like wynn would care. Wynn personally sed he doesnt want to invest in manila. This is like claire danes all over again

Bosnyboy

February 28th, 2012, 03:18 PM

^^ good news indeed pero teka, mas interested ako sa statement na Travellers will finish in 2015. Resorts World Bayshore hasn't reported any groundbreaking yet and they will finish in 2015 ? :lol:

Kaw naman baka under construction na sya. Yun lang yung casino resort nila below ground, parang underground bunker hehehhehehe. Talahib at damo sa ibabaw, mega casino resort sa ilalim. Ang isip nila siguro na kapag nagkaroon ng nuclear holocaust, sila bukas pa ang bayshore at belle resort wala na.hehehehe

watcher09

February 29th, 2012, 02:02 AM

What a myopic decision from a bunch of self-righteous sanganos.

In business, there are no permanent friends, there no permanent enemies, only permanent interest.
:horse:

In business, if you know that a person cannot be trusted, you get rid of him, otherwise, your business interests would be in peril.

Ha? That resolution of congress banning mr wynn is just downright childish. Like wynn would care. Wynn personally sed he doesnt want to invest in manila. This is like claire danes all over again

The reason why Wynn is doing this is because he was not invited to join. If you let this Wynn malign our country and then let him invest here, it's like making a child cry and afterwards offer him a candy. That, is childish.

pau_p1

February 29th, 2012, 02:08 AM

In business, if you know that a person cannot be trusted, you get rid of him, otherwise, your business interests would be in peril.

The reason why Wynn is doing this is because he was not invited to join. If you let this Wynn malign our country and then let him invest here, it's like making a child cry and afterwards offer him a candy. That, is childish.

yup... this is a business conflict and not a political conflict.... to ensure you stay in business... you will do all means to crush your competitor... and this is exactly what Wynn is doing... crush Okada... with Pagcor City as the collateral damage...

i know that there is corruption in our country.. but if we let Wynn win in this.. we will lose the half decade of inviting and encouraging our investors to proceed with their projects and we will lose our edge to go ahead of our neighbors..

Bosnyboy

February 29th, 2012, 04:38 AM

yup... this is a business conflict and not a political conflict.... to ensure you stay in business... you will do all means to crush your competitor... and this is exactly what Wynn is doing... crush Okada... with Pagcor City as the collateral damage...

i know that there is corruption in our country.. but if we let Wynn win in this.. we will lose the half decade of inviting and encouraging our investors to proceed with their projects and we will lose our edge to go ahead of our neighbors..

If pnoy and naguiat thinks that there was no bribery/graft involved then pnoy/naguiat should file a libel suit against steve wynn otherwise foreigners will believe wynn's accusations given the fact that our country being a safe investment location is always put in question in the global stage.

Bosnyboy

February 29th, 2012, 04:40 AM

The reason why Wynn is doing this is because he was not invited to join. If you let this Wynn malign our country and then let him invest here, it's like making a child cry and afterwards offer him a candy. That, is childish.

I dont recall any report that says Wynn was not invited to join. Pagcor made the call for las vegas operators to join the project even back in efraim's days. In fact we even placed ads on cnn just for this purpose.

DCRJ

February 29th, 2012, 05:18 AM

I dont recall any report that says Wynn was not invited to join. Pagcor made the call for las vegas operators to join the project even back in efraim's days. In fact we even placed ads on cnn just for this purpose.

you are right, I even recorded that video from CNN on June 13, 2009
here's the video from my youtube account DCRJPhilippines

Bagong Nayong Pilipino Entertainment City Ad on CNN (Recorded June 13, 2009)
hR05uFKVhgg

El_Toro

February 29th, 2012, 06:47 AM

nagsisi na kasi si Wynn dhil ndi sya sumali as a locator sa pagcor city kaya ngayon naninira nalang yan as an act of desperation... nakakahiya nga lang siya dahil desperado na pikon talo pa lalo ang labas niya...

InfinitiFX45

February 29th, 2012, 07:12 AM

Wynn just one investor — Aquino :ohno: :nuts: :nuts: :nuts:

by Manila Standard Today | Wednesday | February 29, 2012

PRESIDENT Benigno Aquino III on Tuesday downplayed the possible adverse effects of a House resolution banning casino magnate Steve Wynn from doing business in the Philippines, saying that would not scare off other potential investors.

Mr. Aquino said Wynn, who accused Philippine Amusement and Gaming Corp. head Cristino Naguiat of accepting bribes from Japanese pachinko operator Kazuo Okada, was “just one investor.”

“There are so many other investors … I was just given a three-page list of investors who have already come in who are scouting,” he said.

The House committee on games and amusement approved the resolution banning Wynn after Naguiat complained he had been a victim of a boardroom war between Wynn and Japanese billionaire Kazuo Okada, a former shareholder of Wynn Resorts Ltd.

Read More: http://www.manilastandardtoday.com/insideNews_mstd.htm?f=//2012/february/29/news4.isx&n=news&d=/2012/february/29

Jose Mari

February 29th, 2012, 08:22 AM

Kintoy

February 29th, 2012, 08:37 AM

Kintoy

February 29th, 2012, 08:38 AM

you are right, I even recorded that video from CNN on June 13, 2009
here's the video from my youtube account DCRJPhilippines

Bagong Nayong Pilipino Entertainment City Ad on CNN (Recorded June 13, 2009)
hR05uFKVhgg

campaign video lang naman ito :ohno:

Kintoy

February 29th, 2012, 08:40 AM

What a myopic decision from a bunch of self-righteous sanganos.

In business, there are no permanent friends, there no permanent enemies, only permanent interest.

:horse:

yes and we should look out on the interest of the Philippines, not Wynn. he is destroying Okada because his interests are on his casinos in Macau.

pau_p1

February 29th, 2012, 09:10 AM

yes totally agree.. we shouldn't be blindsided by Wynn because of being critical to Noy's admin... this is not politics.. this is a business conflict...

Jose Mari

February 29th, 2012, 09:13 AM

^^ please, before you support Wynn, consider what he is doing against the Philippines and the country's plans:

Wynn’s banked everything ni China gaming and putting his stake in the PRC investor side of things. But Wynn is basically also working with others in Macao to torpedo the Philippines gaming city destination plans for Manila.

Wynn backed newspapers in Macao. For example, played up the tragic Manila bus hostage incident while rarely mentioning Triad crime in Macao, or even issues surrounding human rights in China or Tibet, or working conditions.

http://www.groundreport.com/US/Wynn-loses-Philippines-Congressmen-seek-ban-of-inv/2944551

WTF are you talking about? I'm not supporting that bastard Wynn. I want him and his enterprise to go down in flames for the obvious greedy motives behind his recent moves to undermine this Philippine mega project. I want the Philippines to capture this market and overtake Macau just like anyone here. I want us to have the last laugh.

What I don't like is how this government is reacting to this "crisis" like a bunch of butt hurt amateurs, that instead of going about this stumbling block intelligently, they're quick to put out statements (this latest one from the country's top honcho himself) that puts us in a weaker position. It's like they're playing into Wynn's hands.

Matalino bang statement yung "Eh marami naman investors eh... iisa lang si Wynn... who cares?" That's basically what the President is saying here... at para na rin niyang inamin wala siyang alam. What if Wynn wins in the US courts? He's got this machinery behind him like you've described and he's not stupid. What will those potential investors do? Baka ngayon lang kinakabahan na yung mga yun dahil sa dispute na ito eh. Do you think they would still be willing to plunk in their billions if Wynn's allegations are proven correct? Katawatawa nanaman ang labas natin kung manyari yon. No one would take us seriously.

pau_p1

February 29th, 2012, 09:26 AM

WTF are you talking about? I'm not supporting that bastard Wynn. I want him and his enterprise to go down in flames for the obvious greedy motives behind his recent moves to undermine this Philippine mega project. I want the Philippines to capture this market and overtake Macau just like anyone here. I want us to have the last laugh.

What I don't like is how this government is reacting to this "crisis" like a bunch of butt hurt amateurs, that instead of going about this stumbling block intelligently, they're quick to put out statements (this latest one from the country's top honcho himself) that puts us in a weaker position. It's like they're playing into Wynn's hands.

Matalino bang statement yung "Eh marami naman investors eh... iisa lang si Wynn... who cares?" That's basically what the President is saying here... at para na rin niyang inamin wala siyang alam. What if Wynn wins in the US courts? He's got this machinery behind him like you've described and he's not stupid. What will those potential investors do? Baka ngayon lang kinakabahan na yung mga yun dahil sa dispute na ito eh. Do you think they would still be willing to plunk in their billions if Wynn's allegations are proven correct? Katawatawa nanaman ang labas natin kung manyari yon. No one would take us seriously.

Kintoy is just giving us fair warning in riding this publicity stunt... as it is fair to question PagCor... but putting some political color on this being Naguiat an official under Noy will only make Wynn stronger as he knows that casting a small doubt in our minds will eventually cause us to easily self destruct...

Jose Mari

February 29th, 2012, 09:40 AM

Kintoy is just giving us fair warning in riding this publicity stunt... as it is fair to question PagCor... but putting some political color on this being Naguiat an official under Noy will only make Wynn stronger as he knows that casting a small doubt in our minds will eventually cause us to easily self destruct...

Huh? It's the President himself who came up with that statement. It's the lower house gambling committee that put a ban out on Wynn. It's Naguiat himself who stated he's not interested wooing American investors...haha! They're the ones injecting political color into this. Open your eyes. They're the ones self-destructing here.

And like kintoy said, Wynn has been and will continue putting in the work and resources at his disposal to discredit this government and this project so the people on our side have to work this out intelligently and make all the right moves to see to it that he doesn't succeed with his plans.

Narnian_King

February 29th, 2012, 09:46 AM

May big possibility din na i-ban ni Wynn ang mga filipino workers sa Wynn Resorts hehe.

pau_p1

February 29th, 2012, 09:51 AM

xxxriainxxx

February 29th, 2012, 10:42 AM

May big possibility din na i-ban ni Wynn ang mga filipino workers sa Wynn Resorts hehe.

Lose their only capable staff? I don't think so.. :lol::lol::lol:

xxxriainxxx

February 29th, 2012, 10:44 AM

Wynn versus the Philippines?

He will go down.

Jose Mari

February 29th, 2012, 10:59 AM

yup i know who said what... and I understand Naguiat said he did not intend to invite American investors since I think Pagcor has only a few lots left to hand out to interested parties... and if any American investor is interested they'll come.. the lower house made the ban as a negative reaction to the harm that Wynn is causing us... and Noy is stating something true.. if we lose Wynn, there are other investors who will be interested and they will come when the current 4 proponents become operational...

if we ourselves help in discrediting the project like Wynn is doing.. well he has won already and we might not see the 4 proponents become operationa... that is how we shall self destruct...

The lower house banned Wynn without first making sure if his allegations had merit, which was a wrong move IMO because it gives the impression that retaliation to the negativity was the priority instead of making sure we're gonna do everything above-board as far as the Entertainment City is concerned for the sake of the investors. Instead of investigating the alleged corruption and bribes to prove that it's FALSE (and have more ammo to fend off Wynn), or IF true make sure we're taking the necessary steps to nip it in the bud (damage control to appease investors), the lower house went for a BAN without having the TRUTH to back it up. The truth can only come from the official results of a formal investigation into the matter. You can't hide it if it exists and if it turns out to be false, then GREAT! Start the attack on Wynn's credibility.

Naguiat is interested in ASEAN partners only, not the Americans. Meanwhile Macau has MGM, Wynn and other Vegas outfits, Singapore has Universal, even Vietnam has MGM, etc. These are some of our direct competitors who have American investments together with the entertainment and gambling resources, prestige and expertise they bring with them. I think it would be better for us to have the same kind of Western presence on our side to make us look even more legit and be more competitive in this region.

Noy's statement sounds naive to be honest. There might be tons of other investors waiting in the sidelines but this issue could end up like mud in our faces if this one person's allegations turn out to be true, so his priority should be like what I said before with the congress committee, to make sure to get to the bottom of the situation first before making stupid statements like that. The investors would be like: " What about Wynn's (who's a popular Vegas figure) allegations?" and these doubts could grow in their minds especially if the Western media makes a circus out of this in the US courts. We have no control over that.

Nah sorry, I don't see how opinions like these "help in discrediting the project like Wynn is doing." As Filipinos, we all want to see this thing succeed big time.

Kintoy

February 29th, 2012, 11:59 AM

WTF are you talking about? I'm not supporting that bastard Wynn. I want him and his enterprise to go down in flames for the obvious greedy motives behind his recent moves to undermine this Philippine mega project. I want the Philippines to capture this market and overtake Macau just like anyone here. I want us to have the last laugh.

What I don't like is how this government is reacting to this "crisis" like a bunch of butt hurt amateurs, that instead of going about this stumbling block intelligently, they're quick to put out statements (this latest one from the country's top honcho himself) that puts us in a weaker position. It's like they're playing into Wynn's hands.

Matalino bang statement yung "Eh marami naman investors eh... iisa lang si Wynn... who cares?" That's basically what the President is saying here... at para na rin niyang inamin wala siyang alam. What if Wynn wins in the US courts? He's got this machinery behind him like you've described and he's not stupid. What will those potential investors do? Baka ngayon lang kinakabahan na yung mga yun dahil sa dispute na ito eh. Do you think they would still be willing to plunk in their billions if Wynn's allegations are proven correct? Katawatawa nanaman ang labas natin kung manyari yon. No one would take us seriously.

wtf am I taking about? are you that dim witted?

bat naman kakabahan ang mga investors? everybody knows that this is a catfight between Wynn and Okada, all except you and some Wynn supporters here who would like use this against the Aquino govt. if you cant see that, backread and see the initial reactions when the Wynn accusations first came out.

allegations of Wynn? which one, the bag? That was returned by Naguiat. that's a fact that's being conveniently being left out by your lot.

Jose Mari

February 29th, 2012, 12:25 PM

wtf am I taking about? are you that dim witted?

bat naman kakabahan ang mga investors? everybody knows that this is a catfight between Wynn and Okada, all except you and some Wynn supporters here who would like use this against the Aquino govt. if you cant see that, backread and see the initial reactions when the Wynn accusations first came out.

allegations of Wynn? which one, the bag? That was returned by Naguiat. that's a fact that's being conveniently being left out by your lot.

Saan ko dun nilagay na sinusuportahan ko si Wynn? Yun yung WTF? So stop calling me a Wynn supporter. I hate what that dude stands for and please don't make this personal with me with the name-calling. Puede mo naman ibigay ang opinion mo na hindi ka nangiinsulto ng forumer dito eh... no matter how intellectually superior you think you are.

Allegations of Wynn? It's that PAGCOR officials taking bribes. It doesn't have to be Naguiat or anyone from this administration IF it's not true, but it must be investigated formally so we could find out if indeed his allegations have any saysay. Hindi yung sa media sila nakikipag-banatan pero hindi pa nila inaalam o sinisigurado muna kung wala ngang tumatanggap ng lagay ngayon o noon. Malaking problema ang lagay lalo na sa mata ng mga bansa na pinanggagalingan ng foreign investment. Alamin muna ang totoo kung meron ngang kurakot ginawa sa side natin o wala para siguradong may laban tayo at hindi mag mukang tanga pagnagkaalaman na ng totoo. Eh dinala na ni Wynn sa US courts ang labanan kay Okada, it means he's serious with his accusations and that he expects to win (pun not intended).

Ano masama don?

Kintoy

February 29th, 2012, 12:45 PM

Jose Mari

February 29th, 2012, 12:47 PM

^^

yeah yeah, Macau and Wynn supporter

Ikaw ngayon ang dim-witted dito. Hindi mo pala naiintindihan lahat ng binabasa mo eh. :lol:

Kintoy

February 29th, 2012, 12:52 PM

really now. you're the only one left supporting Wynn and Macau.

wolfdgreat

February 29th, 2012, 12:53 PM

Parang pamilya lang yan.
Halimbawa, meron anak na aspiring for 1st honor, at katabi nya sa upuan e aspiring din for 1st at may napabalita ng hindi magandang gawain. At nag exam sila. Later on sa nung katabi nya e, nangopya daw itong anak mo. Ano gagawin mo?

Papakita mo dun sa school na pinapagalitaan mo anak mo kase pinagbintangan cyang nangongopya?

O kakausapin mo muna yung teacher na ihiwalay ng upuan ang anak mo, at pag uwi nyo sa bahay ay tatanungin mo ang anak mo kung ginawa ba nya talaga?

Jose Mari

February 29th, 2012, 12:57 PM

really now. you're the only one left supporting Wynn and Macau.

Whatever dude... I want the Philippines to win this one, not Wynn and Macau. Sana mapatunayang WALA NGANG SUHOL or anything inappropriate na ginawa sa side natin. Gusto ko rin makita nakatayo na lahat ng projects diyan ASAP.

F*ck Wynn and f*ck Macau.

watcher09

February 29th, 2012, 01:03 PM

I dont recall any report that says Wynn was not invited to join. Pagcor made the call for las vegas operators to join the project even back in efraim's days. In fact we even placed ads on cnn just for this purpose.

I was referring to Okada not inviting Wynn. There was a report that Wynn cannot be benefitted with the Manila project since it's a wholly owned project by Okada.

Kintoy

February 29th, 2012, 01:06 PM

Whatever dude... I want the Philippines to win this one, not Wynn and Macau. Sana mapatunayang WALA NGANG SUHOL or anything inappropriate na ginawa sa side natin. Gusto ko rin makita nakatayo na lahat ng projects diyan ASAP.

F*ck Wynn and f*ck Macau.

if na-establish na that Wynn is just using these accusations to undermine Okada and the casinos in the Philippines because he wants to protect his casinos in Macau, why would you still give weight to his accusations of bribery?

unless dimwit ka d b? :cheers:

Jose Mari

February 29th, 2012, 01:15 PM

^^

yeah yeah, Macau and Wynn supporter. youre the one who started with "WTF"

Pagcor is not even a party to the suit. and do you know that Wynn "donated" millions to some macau charity kuno, that started this all? and Pagcor is saying that the suite provided by Okada is not a bribe. why would Okada bribe Naguiat when he already has a license to build casinos here?

Dinadagdagan mo naman post me eh.

Ikaw naman o... "WTF" is not an insult, it's just an expression. It's just like "What the heck...," "What in blazes...," "What in all that is good...." "What on earth...," What in heaven's name...," etc. Come on... :lol:

PAGCOR may not be a party to the suit but Wynn is citing this main gambling authority in the Philippines as corrupt which doesn't bode well for our side. Kung ang corrupt mismo e yung intitution na nangangasiwa ng proyekto, baka ma-turnoff at matakot yung mga may balak maglalalaglag ng biliyones dito sa bansa natin.

Malay natin wala ngang kasalanan si NAGUIAT. Eh di maganda!!! Kaya nga gusto ko imbestigahan muna eh para malaman ang katotohanan. Para isipin ng mga investors na hindi natin pinalalampas ang ganyan klaseng pamamalakad. Kung absolutely walang suhol na nanayari eh di pahiya si Wynn... ang saya-saya! :banana:

Jose Mari

February 29th, 2012, 01:18 PM

if na-establish na that Wynn is just using these accusations to undermine Okada and the casinos in the Philippines because he wants to protect his casinos in Macau, why would you still give weight to his accusations of bribery?

unless dimwit ka d b? :cheers:

I don't wanna give weight to his accusations. I want to give weight to the idea that our project is legit and above-board... no hanky-panky. At kung meron man hanky-panky I want Noy to do something about it and not to go on a tantrum against our enemies. Ayaw kong mapahiya siya eh.
:cheers:

Kintoy

February 29th, 2012, 01:34 PM

di mag-investigate ka

Jose Mari

February 29th, 2012, 01:50 PM

di mag-investigate ka

Bakit ako? :nuts: Dapat tutukan 'yan ng current administration ng Pinas.

I-investigate yan nung side ni Wynn para i-present nila sa korte upang patunayan na may basehan yung pagkakasibak ni Okada sa Board. Kaya nga maski hindi tayo ang nakademanda e importante yung lawsuit at counter-lawsuit ni Okada at Wynn. Ang argument kasi ni Wynn kumagat si Okada sa corruption ng PAGCOR at ng Pilipinas.

Our side must do it's own impartial investigation regarding this matter para naman makita na Noy and his government don't let these kinds of things slide and that they are doing their part to make sure that we are indeed a worthy haven for successful major investments.

anonymous_filipino

February 29th, 2012, 02:38 PM

boy_turista

February 29th, 2012, 03:18 PM

May big possibility din na i-ban ni Wynn ang mga filipino workers sa Wynn Resorts hehe.

That's a BIG impossibility! Unless, chinese can speak as fluent as we are in english

sun-tex

February 29th, 2012, 03:19 PM

$30 billion ang macau gambling, ang pinas nasa $1.5 billion lang, ang singapore nasa $5.6 billion i think,pero pagnatapos na ang 4 casinos and gaming hubs aabot tayo sa $8 billion at 2nd sa mundo after macau, las vegas will now in 3rd place at $5-6 billion

boy_turista

February 29th, 2012, 03:25 PM

Wynn versus the Philippines?

He will go down.

I agree. Phil govt can easily slap him with "persona non-grata" and that will cause a BIG blow to him as an investor. The share price of his shares in the wynn macau and vegas will easily decline!

InfinitiFX45

February 29th, 2012, 05:28 PM

PCCI hits Wynn’s portrayal of Philippines as ‘corrupt’ :)

by Daxim L. Lucas | Philippine Daily Inquirer | Wednesday | February 29th, 2012 | 1:07 am

MANILA, Philippines—The Philippines’ biggest umbrella organization of small- and medium-sized businesses took umbrage Tuesday at a US-based casino giant’s portrayal of the country as corrupt, saying the country was being made a pawn in a corporate squabble.

In a statement, the Philippine Chamber of Commerce and Industry (PCCI) “denounced in the strongest possible terms” what it called the “irresponsible and unwarranted” dragging of the government in the private fight between casino operators Stephen Wynn and Kazuo Okada.

“The sweeping characterization of the Philippines as a corrupt nation on the sole basis of the allegation that a gaming license was granted to Kazuo Okada for a period of 25 years for the Entertainment City project in exchange for favors supposedly received by Pagcor officials does not depict a fair and accurate picture of the country and how the project was actually processed,” the group said.

“The basis of such claims should be validated across the country and should reflect the real and actual conditions at the local level,” added the group, which counts as members some 20,000 SMEs and businessmen nationwide.

Read More: http://business.inquirer.net/46813/pcci-hits-wynn%e2%80%99s-portrayal-of-philippines-as-%e2%80%98corrupt%e2%80%99

Juan Pilgrim

February 29th, 2012, 07:20 PM

May nabasa akong article sa abs-cbnnews.com kahapon. Kaya pala ganyan ang reaction ni Wynn sa Manila Bay Resorts because Wynn Macau is the cash cow of his gambling empire. If the Entertainment City becomes fully operational, it might take a big portion of the Mainland Chinese market from Macau, which is their biggest market. Aside from offering more tourist attractions than Macau, mas konti ang visa application restrictions natin kesa Macau, to mention also that the PRC government has put on a quota on how many Mainlanders can go to Macau for tourism purposes.

Kung ako sa House of Representatives at kay PNoy, bawiin na lang nila mga resolution at statement nila. Sila na mismo mag-invite kay Wynn na mag-invest dito, at sabihan si Naguiat na mag-explain kay Wynn na hindi siya naghingi ng "lagay" kay Okada para tapos na ang gulo. Magkakaroon pa ng healthy competition sina Wynn at Okada. Magiging win-win solution for all ito. Baka maging cash cow pa ng Wynn Resorts ang itatayo nilang casino-resort dito. Pag natuwa pa si Wynn dito, mahihila din niya ang Sands, MGM, at Harrah's Entertainment.

I like where you are going.:cheers2:

PCCI hits Wynn’s portrayal of Philippines as ‘corrupt’ :)

by Daxim L. Lucas | Philippine Daily Inquirer | Wednesday | February 29th, 2012 | 1:07 am

MANILA, Philippines—The Philippines’ biggest umbrella organization of small- and medium-sized businesses took umbrage Tuesday at a US-based casino giant’s portrayal of the country as corrupt, saying the country was being made a pawn in a corporate squabble.

In a statement, the Philippine Chamber of Commerce and Industry (PCCI) “denounced in the strongest possible terms” what it called the “irresponsible and unwarranted” dragging of the government in the private fight between casino operators Stephen Wynn and Kazuo Okada.

“The sweeping characterization of the Philippines as a corrupt nation on the sole basis of the allegation that a gaming license was granted to Kazuo Okada for a period of 25 years for the Entertainment City project in exchange for favors supposedly received by Pagcor officials does not depict a fair and accurate picture of the country and how the project was actually processed,” the group said.

“The basis of such claims should be validated across the country and should reflect the real and actual conditions at the local level,” added the group, which counts as members some 20,000 SMEs and businessmen nationwide.

Read More: http://business.inquirer.net/46813/pcci-hits-wynn%e2%80%99s-portrayal-of-philippines-as-%e2%80%98corrupt%e2%80%99

:cry: Boooooohooooo, mommy they called me "corrupt!" :cry:

:ohno:We still have alot of growing up to do.

:horse:

todjikid

February 29th, 2012, 10:22 PM

WYNN made a sweeping statement with an obvious motive against the Philippines. Tama naman ang congress to say that WYNN dragged the entire country to his boardroom mess. It's not even a well founded assumption but just an ill-motivated act to destroy possible competition. Go for it. BAN WYNN.

todjikid

February 29th, 2012, 10:30 PM

Somebody should slap Mareng WYNNie Monsod for blowing this out of proportion. Buti na lang some of our politicians are turning out to be less populist than the stupid media.

nayki

March 1st, 2012, 05:22 AM

May big possibility din na i-ban ni Wynn ang mga filipino workers sa Wynn Resorts hehe.

I doubt...mahihirapan ang mga casino sa Macau pag nawala mga Pilipino workers doon.

pau_p1

March 1st, 2012, 07:24 AM

I doubt...mahihirapan ang mga casino sa Macau pag nawala mga Pilipino workers doon.

yup.. and kung iban nya ang mga pinoy sa wynn... i believe Venetian and other casinos in Macau will welcome pinoys there more... goodluck si Wynn pag binan nya ang pinoy sa casino nya...

Kintoy

March 1st, 2012, 12:50 PM

This isn't the first time Wynn has offended foreign officials.

In 2005, while bidding for a gaming license in Singapore, he publicly criticized the "control and direction" offered by Singapore tourism leaders as "unsophisticated" and from "people who have never done this before."

In response, Prime Minister Lee Hsien Loong admonished Wynn, who then withdrew his bid.

http://www.lvrj.com/business/philippines-wants-to-86-steve-wynn-140974003.html

Kintoy

March 1st, 2012, 12:52 PM

Jose Mari

March 1st, 2012, 01:04 PM

i-explain mo yan ka Jose Mari, who is a supporter of Macau and Wynn.

why we kowtow to Wynn? we can get other investors to build casinos here. It will be his loss if he gets banned in the Philippines

Wow ang bitter mo naman...haha! :lol:

Namemersonal ka na nga nagtatanim ka pa ng galit just because you don't possess the comprehension to understand my posts.

Kintoy

March 1st, 2012, 01:07 PM

you're just changing your stance because you're the only one left supporting Wynn here

Jose Mari

March 1st, 2012, 01:19 PM

you're just changing your stance because you're the only one left supporting Wynn here

Why do you keep pushing a non-issue in this forum that I'm supporting Wynn when it's quite obvious in my posts where I made it very clear that I don't want his smear campaign against this project to succeed. It's just that I want the concerned Philippine authorities to confront him and BRING HIM DOWN intelligently instead of having their fits in the media.

If you won't acknowledge what I was trying to point out and/or don't agree with what I've said, then kindly refrain from INVENTING falsehoods about my opinions or at least try to ignore them if you can't stomach or comprehend them. Konting COURTESY naman sa opinion ng ibang tao dito. Hindi naman ako nambabastos dito eh. :)

Kintoy

March 1st, 2012, 04:46 PM

^^

Tell that to Wynn, man

Jose Mari

March 1st, 2012, 04:53 PM

^^

Go tell him yourself. :nuts:

sun-tex

March 1st, 2012, 07:00 PM

ano daw? may 100 million na bahay si naguiat sa la vista,diliman,qc? at nabili niya ngayong pagcor chief lang siya, prior tp that nakikitira lang siya at wala siyang pag aari?

todjikid

March 1st, 2012, 08:49 PM

sakit sa mata. ban! kidding.

noypiblazer

March 2nd, 2012, 01:01 AM

ano daw? may 100 million na bahay si naguiat sa la vista,diliman,qc? at nabili niya ngayong pagcor chief lang siya, prior tp that nakikitira lang siya at wala siyang pag aari?

tol san mo nabasa yan, links ? kung tutuo nga eh di corrupt yang si Winnie The Pooh :nuts::nuts::nuts: dami nya namang bahay, 100 milyon bahay :lol:

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-ash4/s320x320/422957_295475843840221_100001334243963_773630_1925656820_n.jpg

Juan Pilgrim

March 2nd, 2012, 01:47 AM

video:http://www.bbc.co.uk/news/business-17228379
Philippines state casinos boss: 'We feel used'

Cristino Naguiat, head of the Filipino casinos regulator Pagcor, tells the BBC he "feels used" in the high profile bust-up at casinos operator Wynn Macau.

It comes after gambling tycoon Steve Wynn accused of him of accepting illegal payments from Japanese investor Kazuo Okada, whom Mr Wynn recently ousted from their joint venture.

Mr Naguiat says he never accepted any more than standard hospitality at Mr Okada's hotels.

:horse:

KnightOfTheFlag

March 2nd, 2012, 01:49 AM

tol san mo nabasa yan, links ? kung tutuo nga eh di corrupt yang si Winnie The Pooh :nuts::nuts::nuts: dami nya namang bahay, 100 milyon bahay :lol:

http://a2.sphotos.ak.fbcdn.net/hphotos-ak-ash4/s320x320/422957_295475843840221_100001334243963_773630_1925656820_n.jpg

Thursday, March 1, 2012
Bong Naguiat's 5 New Houses, and New shady PAGCOR deals: Aquino Administration's ZTE deal

....Sources also said that if Aquino really intends to rid government of graft, he should order a quick lifestyle check of his bosom buddy, Bong Naguiat.

IMagine, according to unimpeachable sources, from being a zero owner of home property these past few years, Naguiat's private properties reportedly ballooned to five houses since his ascension as PAGCOR chief early in July 2010.

Naguiat reportedly now has a house being constructed at La Vista worth 100 million pesos, this posh subdivision in Quezon City, another at his wife's province in the North, another in his home town and two more condominiums in Metro Manila. Prior to his appointment, Naguiat has no single property under his name. He lives in the good graces of his father-in-law, a member of the Perez clan based in Pangasinan....

Read more
http://newphilrevolution.blogspot.com/2012/03/bong-naguiats-5-new-houses-and-new.html

KICK OUT NAGUIAT FROM PAGCOR AND SLAP HIM WITH CORRESPONDING CHARGES JUST LIKE WHAT PNOY IS DOING NOW TO HIS ENEMIES!! ANG YABANG NANG HINAYUPAK NA YAN KALA MO KUNG SINONG MALINIS YUN PALA ITIM DIN ANG BUTO PARANG YUNG AMO NYANG SI PNOY!!....BUT PPLEASE DONT TOUCH THE PAGCOR PROJECTS ( he is not or even this admin is the proponent and brainchild of those projects anyway)!! IF THERE ARE ANOMALIES NOW IN PAGCOR ITS NAGUIAT FAULT AND HIM ALONE!!

pau_p1

March 2nd, 2012, 02:19 AM

Thursday, March 1, 2012
Bong Naguiat's 5 New Houses, and New shady PAGCOR deals: Aquino Administration's ZTE deal

Read more
http://newphilrevolution.blogspot.com/2012/03/bong-naguiats-5-new-houses-and-new.html

just a question... is this a credible source? or just a blog site of people who wants to attack every government official?...

sorry but I don't think blogs are credible enough... in my opinion..

DCRJ

March 2nd, 2012, 02:41 AM

^^ it's a blogspot link, I'll believe it when I see a legitimate link from credible sources. Anybody can create a blogspot site in a matter of seconds. I should know because I got 2 blogspot sites.

KnightOfTheFlag

March 2nd, 2012, 02:45 AM

ipur

March 2nd, 2012, 03:22 AM

well its Naguiat....an elite member of the KKK... you can really expect a powerful cover up on this....even from our traditional media like ABiaS CBN who is grossly biased for pnoys admin you wont find this kind of report furthermore an investigation...you can even expect them TO BLAME IT AGAIN ON THE FORMER PAGCOR CHIEF AS LONG AS IT IS NOT "THEM"....typical of this admin....well anyway i cant blame you if you wont believe its your opinion anyway....but if there's a massive cover up and anomalies, these are like dead corpses being hidden under the bed and their stench starts to leak, people will start looking and investigate...and they can find out things as the stench leads them somewhere...now traditional media is not very reliable anymore when getting factual information, as it can be bought and manipulated by the powerful or who's on power....with new media called the internet people can get information themselves..

dude, napanood mo ba ang commentaries ng ABS-CBN especially that of anthony taberna? baka malaglag ka sa inuupuan mo...looks sobrang baligtad naman ang pinagsasabi mo eh... anthony's comment are pinning down Naguiat. but I don't like his way of commenting... to much negative as if walang nakitang mabuti sa ginawa ni naguiat... all I did was turned off my TV set and just listen music... It just ruined my early morning yesterday...:bash::bash::bash:

ormocanon

March 2nd, 2012, 03:48 AM

Mga bossing, dun na lang natin ituloy ang diskusyon sa Gambling Industry thread. Request sa admin, pakilipat na lang ang mga diskusyon tungkol awayang Wyn-Okada-Naguiat sa Gambling Industry thread. Concentrate lang po tayo dito sa mga updates ng Entertainment City. Maraming salamat.

pau_p1

March 2nd, 2012, 03:53 AM

^^ it's a blogspot link, I'll believe it when I see a legitimate link from credible sources. Anybody can create a blogspot site in a matter of seconds. I should know because I got 2 blogspot sites.

same here.. hehehe...

Kintoy

March 2nd, 2012, 07:19 AM

Thursday, March 1, 2012
Bong Naguiat's 5 New Houses, and New shady PAGCOR deals: Aquino Administration's ZTE deal

Read more
http://newphilrevolution.blogspot.com/2012/03/bong-naguiats-5-new-houses-and-new.html

KICK OUT NAGUIAT FROM PAGCOR AND SLAP HIM WITH CORRESPONDING CHARGES JUST LIKE WHAT PNOY IS DOING NOW TO HIS ENEMIES!! ANG YABANG NANG HINAYUPAK NA YAN KALA MO KUNG SINONG MALINIS YUN PALA ITIM DIN ANG BUTO PARANG YUNG AMO NYANG SI PNOY!!....BUT PPLEASE DONT TOUCH THE PAGCOR PROJECTS ( he is not or even this admin is the proponent and brainchild of those projects anyway)!! IF THERE ARE ANOMALIES NOW IN PAGCOR ITS NAGUIAT FAULT AND HIM ALONE!!

show more than a blogspot link. like documents or other evidence. hindi yung puro dada :lol:

reyvil888

March 2nd, 2012, 08:05 AM

100 million na bahay sa la vista , ano to kasinglaki ng matchbox ? :lol:
malabo ba mata mo Makati Prime at ganyan kalaki ang fonts size mo ?:ohno:

ano daw? may 100 million na bahay si naguiat sa la vista,diliman,qc? at nabili niya ngayong pagcor chief lang siya, prior tp that nakikitira lang siya at wala siyang pag aari?

sun-tex

March 2nd, 2012, 08:15 AM

malabo ba???? ayan oh

100 million size of a matchbox? bago yun ah?

xxxriainxxx

March 2nd, 2012, 08:29 AM

Wala bang pwedeng pag-usapan kesa puro mga negatibo? Any construction updates please? I am excited about the ongoing construction on other properties within the E-City. :) Pakipost naman po... Salamat!!! :)

KnightOfTheFlag

March 2nd, 2012, 09:12 AM

show more than a blogspot link. like documents or other evidence. hindi yung puro dada :lol:

Aaaahhh... dont worry...lalabas din yan...pag-baba ni pnoy bubulwak lahat yan na parang napupunong imburnal na pilit tinatakpan and will bite pnoy and naguiat real hard they will cry while their asses bleed:lol::lol::lol:...like I said Naguiat is an elite KKK so a massive and powerful cover up is preventing all this from coming out...dont you hear and see the news how fast he absolve his KKK from wrong doings??:ohno::ohno::ohno:...oh I forgot pnoy supporter ka rin pala kaya lahat ng baho nya at tauhan nya nilalanghap mo na parang pabango:bash::bash:....diba dati pilit mo ring sinasabi na guilty NA si GMA from corruptions?...O hayan lumabas noong bumaba na sya sa pwesto.....BUT....just lately eh tinapon yung kaso nyang plunder ng Ombudsman that ironicaly was appointed by pnoy himself, me kasalanan nga ba? o puro dakdak din kayo at hindi naman pala mapapatunayan dahil walang ebidensya :sleepy::yawn::sleepy::yawn:....bad move??...eh yung impeachment na sikat na sikat ngayon....galing ng alipores ni pnoy na mambintang noh? puro media publicity at grandstanding PURO DAKDAK DIN...pero pagdating sa korte tameme, aanga-anga, nabulbulyawan...galing lang kasi lahat sa trial by publicity eh..

Anyway I wont talk about this anymore...like request from some forumers we will go back to topic..

Kintoy

March 2nd, 2012, 01:33 PM

mga pakawala ni Bautista Horn lang ang gumagawa ng issue na yan, wala namang prueba. magpakita kayo ng bank accounts, gaya nung bank accounts ni Corona

Bosnyboy

March 2nd, 2012, 01:34 PM

Hay puro away, nobody wants to respect others opinion. so sad.

Anyways maiba naman ano na ba balita sa resorts world bayshore?? March na wala pa ren tayong naririnig. Yung star cruises academy ata sa resorts world manila wala na(?) Nakita ko kasi wala na yung sign nya sa bldg. :(

Bosnyboy

March 2nd, 2012, 01:35 PM

Kintoy di ka ba pwedeng makipag discussion ng medyo sibilisado? Everytime na lang kasi twing pumapasok ka sa isang thread parati na lang nagkakaroon ng away. Ganyan ba ang pagpapalaki sayo ng magulang mo?

Kintoy

March 2nd, 2012, 01:41 PM

^^ bago ka makisali magback-read ka muna at basahin mo kung sino ang nang-aaway at nag-po-post ng giant fonts na pula. sino ba ang nagpo-politicize sa thread na to? dun kayo sa executive thread magpalabas ng pagka-bitter nyo sa presidente.

ako lagi

March 2nd, 2012, 03:02 PM

mga pakawala ni Bautista Horn lang ang gumagawa ng issue na yan, wala namang prueba. magpakita kayo ng bank accounts, gaya nung bank accounts ni Corona

tama na yan, masyado ng malayo ang iyong narating. nagdemand ka pa ng pruweba pero ikaw din nang aakusa at nagbanggit ka pa ng pangalan. sige nga, magbigay ka nga ng pruweba na galing kay Horn ang mga pakulong yan. Baka ma-libel ka, hijo.

di naman kasi masamang mag-imbestiga, di ba? anong rationale ng pagjump mo ng conclusion na may sinusuportahan ang mga forumers dito?

Hinay hinay lang tayo.

Kintoy

March 2nd, 2012, 03:31 PM

tama na yan, masyado ng malayo ang iyong narating. nagdemand ka pa ng pruweba pero ikaw din nang aakusa at nagbanggit ka pa ng pangalan. sige nga, magbigay ka nga ng pruweba na galing kay Horn ang mga pakulong yan. Baka ma-libel ka, hijo.

di naman kasi masamang mag-imbestiga, di ba? anong rationale ng pagjump mo ng conclusion na may sinusuportahan ang mga forumers dito?

Hinay hinay lang tayo.

ano naman ang pruweba na nangurakot si naguiat? hindi ba mas libelous yun?

wolfdgreat

March 2nd, 2012, 03:44 PM

Either the claim is true or not, let's be responsible to everything we post. sabi nga nila.. "Ang basurang tinapon mo, babalik din sayo".

"Your enemy reflects back to you everything that you do not like about yourself. He shows you exactly where your fears and insecurities lie. If you listen to what your enemy is saying to you, you will know exactly where you must make corrections in yourself. Only one who opposes you thus can be such an effective teacher. Why do I say love your enemy. I say love your enemy because if you do not love him you won't value the gift he brings you. " - Paul Ferrini

Let's go back to topic.

Kintoy

March 2nd, 2012, 03:50 PM

leofriends

March 2nd, 2012, 04:01 PM

^^ anu ba nmn tong mga taong to.. kahit saang thread pag nakikta ko tong mga taong to laging parang may kaaway... hindi ko na memention kung cnu2.. pero parang sobrang OA na masyado...

InfinitiFX45

March 2nd, 2012, 04:45 PM

What ??? These people are not really helping the country !!! STFU ! ! ! :ohno: :bash: :bash: :bash:

Manila Bay casino project slammed :ohno: :bash: :bash: :bash:

by MARVYN N. BENANING | Tempo | Sunday | Feb 26th, 2012

Manila, Philippines – President Benigno S. Aquino III should scrap the ambitious Las Vegas-type casino project in Manila Bay.

This plea was aired by the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) after a US gambling ﬁrm accused Japanese gambling tycoon Kazuo Okada of making improper cash payments and gifts to gambling regulators.

Pamalakaya said Aquino should stop the Japanese gambling giant Tiger Resorts, Leisure, and Entertainment Inc. controlled by Okada from pursuing the $2-billion investment to set up a Las Vegas-type gambling and casino center in the 45-hectare reclamation area in Pasay City.

It will be constructed on the Bagong Nayong Pilipino Entertainment Complex along Manila Bay.

According to report ﬁled by the Federal Bureau of Investigation (FBI), some Filipino regulators had received dinners, Chanel bags, and suites at Wynn Macau, all courtesy of Okada, chairman of Universal Entertainment Corp.

Okada made his pile by operating “pachinko,“ a cross between pinball and slot machines.

Universal Entertainment, through its subsidiary Tiger Resorts, Leisure, and Entertainment Inc., broke ground on January 26 at the 12-hectare Philippine Amusement and Gaming Corp. (Pagcor) Entertainment City on Manila Bay.

Source: http://www.tempo.com.ph/2012/manila-bay-casino-project-slammed/

InfinitiFX45

March 2nd, 2012, 05:04 PM

What does Okada's Manila casino-resort look like?

by Ayee Macaraig | Rappler | Tuesday | Posted on 02/28/2012 1:35 PM | Updated 02/28/2012 9:34 PM

MANILA, Philippines - It's a project that sparked a bitter rivalry between friends, a boardroom battle, and counter-lawsuits. What is so special about this entertainment complex?

At the hearing of the House committee on games and amusement on Monday, February 27, Japanese billionaire Kazuo Okada's Tiger Resorts Leisure and Entertainment Inc. (Tiger Entertainment) gave lawmakers a preview of his group's US$2 billion-worth The Manila Bay Resorts.

Officials of Tiger Entertainment showed lawmakers this audio-visual presentation as part of an update on the construction of the project, which is expected to be finished by the 3rd quarter of 2014.

This premiere entertainment complex project by Okada's group will rise on a 45-hectare property of the Philippine Amusement and Gaming Corp. (Pagcor) at the Bagong Nayong Pilipino Entertainment Complex in Paranaque City.

Read More: http://www.rappler.com/business/1877-what-does-okada-s-manila-casino-resort-look-like

Jose Mari

March 2nd, 2012, 05:07 PM

What ??? These people are not really helping the country !!! STFU ! ! ! :ohno: :bash: :bash: :bash:

:lol:

Yeah... sure if they have something to replace that $2-Billion then by all means scrap it... otherwise I agree for them to STFU!

Even if their members jump into Manila Bay and drown as a form of protest, that investment is still worth more than all their miserable lives put together, IMO. Yeah I know I'm harsh but I'm just sick to death of these political groups who have done nothing but help this country go backwards instead of forging ahead. :|

Anybody knows what "Mamamalakaya" means?

-sharkleman125-

March 2nd, 2012, 05:07 PM

^^ Those sh*tties are backed by the CHICOMS (Chinese Communist). Instead of bashing the project, they should help banning Wynn in this country. :bash:

KnightOfTheFlag

March 3rd, 2012, 08:37 AM

DP..

KnightOfTheFlag

March 3rd, 2012, 08:40 AM

What ??? These people are not really helping the country !!! STFU ! ! ! :ohno: :bash: :bash: :bash:

Tang@#*^! tong mga taong to! palibhasa mga COMMUNIST DOG sila kaya away nilang umunlad ang bansa at magkaroon ng trabaho ang mga kababayan natin para madali silang makapag-recruit ng myembro :ohno::bash::ohno:....ito ring mga taong to ang dahilan kung bakit na delay ng matagal tong PAGCOR city project dahil nag request ng TRO sa korte:bash::bash:....dapat hindi na pinapakinggan tong mga ANTI PROGRESS AT ANTI LIFE na mga taong to, ewan ko ba bakit pinapansin at pina-publish pa ng media ang pinagsasabi nila :bash::bash:...wala naman silang solusyon sa unemployment ng bansa o ikauunlad nito protesta ng protesta pag may development ...IMHO WE SHOULD BAN THESE :devil::devil:COMMUNIST DEVILS!!:devil::devil:

todjikid

March 3rd, 2012, 08:44 AM

can you tell that to the people who are accusing Naguiat and Pagcor of wrongdoing, whose only "proof' is based on a say-so of Wynn, the person who wants to sabotage the building of casinos in the Philippines

freaking stup*d right? So disappointed with Mareng WYNNie monsod. Media turns you into a brainless populist.

Bosnyboy

March 3rd, 2012, 08:57 AM

Bosnyboy

March 3rd, 2012, 09:02 AM

Bosnyboy

March 3rd, 2012, 09:04 AM

mga pakawala ni Bautista Horn lang ang gumagawa ng issue na yan, wala namang prueba. magpakita kayo ng bank accounts, gaya nung bank accounts ni Corona

Eh according to president pnoy "Hearsay evidence is acceptable in a political dimension" diba :lol:

Juan Pilgrim

March 3rd, 2012, 01:28 PM

Eh according to president pnoy "Hearsay evidence is acceptable in a political dimension" diba :lol:

Touché! What is right for Renato is also right for Cristino!

:horse:

InfinitiFX45

March 3rd, 2012, 01:40 PM

Entertainment City seen to exceed Vegas in gaming revenues :cheers: :banana:

by Daxim L. Lucas | Philippine Daily Inquirer | Saturday | March 3rd, 2012 | 1:17 am

The Philippines can easily surpass the world’s gaming capital, Las Vegas, in terms of casino revenues once the Entertainment City project of Philippine Amusement and Gaming Corp. is fully operational, the head of the state-owned agency predicted.

In an Interview with the Inquirer, Pagcor chairman and CEO Cristino Naguiat Jr. said exceeding Las Vegas’ revenues would be a goal that could be achieved, given how other gaming centers around Asia managed to do the same.

In particular, the southern Chinese enclave of Macau exceeded Las Vegas gaming revenues in 2007, with the former taking in $6.95 billion that year compared to the latter’s $6.6 billion.

More recently, Singapore — the newest gaming center in the region — was also estimated to have exceeded Las Vegas’ sales in 2011, taking in about $6.4 billion last year, versus the latter’s $6.2 billion.

“If Singapore, which only has two casinos, can overtake Las Vegas — with its main offering to guests and tourists being shopping along Orchard Road — I’m sure our Entertainment City can easily surpass their revenues,” Naguiat said.

The state-owned gaming regulator and casino operator is hoping to be the anchor for the government’s thrust to further develop tourism in the country by offering, among others, more five-star hotel rooms to accommodate the expected influx of foreign visitors.

Naguiat pointed out that, according to studies, foreign tourists were drawn mainly by a destination’s beaches and historical sites, in that order.

“We have everything they are looking for here in the Philippines,” he said, referring to the world-renowned beaches of Boracay as well as the Spanish-era walled city of Intramuros, which is only a few minutes’ drive from the Entertainment City’s site.

“We have Palawan’s underground river, and we have very old Spanish churches,” he added. “In Macau, they have the Ruins of St. Paul’s Cathedral, which is only the facade of the structure.”

Read More: http://business.inquirer.net/47269/entertainment-city-seen-to-exceed-vegas-in-gaming-revenues

todjikid

March 3rd, 2012, 05:46 PM

manginig na ang macau at singapore. charot. ang daming heretics dito na akala mo eh sugo ni Lucifer ang tingin sa pamahalaan. I have tons of complains against the government but give credit where credit is due. my god. Basta lang may maibato.

wolfdgreat

March 3rd, 2012, 06:23 PM

raysang

March 3rd, 2012, 06:28 PM

naka try na ako sa casino, dun sa may roxas blvd, man, ang sarap ng pagkain, buffet siya, ni piso di ako gumastos,kumain lang every 7 am,12 nn,and 7 pm, for 3 days yun,lapit kasi sa hotel

efriend

March 3rd, 2012, 10:47 PM

I remember that during the Marcos regime, the DOT under Sec. Aspiras was very successful in attracting hordes of tourists to come to the PHL. Rumor spread that Hong Kong, the top tourist destination in Asia at that time hired a topnotch PR agency to tarnish the reputation of the PHL and bring back the tourists to HK. Now, circa 2012, it looks like history already repeated itself. Some rival places like Macau or entities like Wynn have hidden agenda to throw the PHL under the bus with lots of help from Dungeness crabs called Filipinos. The Filipinos will be very busy fighting with one another while Singapore, Hong Kong, Thailand, Korea, Malaysia, and Macau will clap and laugh all the way to the tourist bank.

pau_p1

March 4th, 2012, 08:09 AM

yun ang problem sa atin ehh... we like to fight each other even we have the same end goal... we still want to fight each other kasi lahat tayo masmatalino kesa sa iba... ayaw natin tanggapin ang opinion ng iba... and as I said earlier.. we are self destructing because of this... just a shed of doubt and boom!

with Pamalakaya.. i understand that they will lose their fishing grounds... but still the earnings we will get with Pagcor city will eventually affect them as it start earning... mga kontrabida ng lahat ng administration naman kasi ang backers nila... parang lahat ng people power nandun sila.. kahit maganda gawa ng gobyerno kontra sila... magtayo na lang sila kaya ng sariling bansa!

todjikid

March 4th, 2012, 08:13 AM

commies yang mga yan. lefties will always be anti-progress.

wolfdgreat

March 4th, 2012, 10:01 AM

san po ba nangingisda ang pamalakaya? sa gilid ba ng pagcor city?

chillendawg

March 4th, 2012, 06:45 PM

Kintoy

March 4th, 2012, 06:48 PM

natatawa ako sa press release ng PAMALAKAYA. wala na atang ginawa ang grupong yan kundi mag-nega sa lahat ng bagay na gagawin ng gobierno

pau_p1

March 5th, 2012, 01:54 AM

san po ba nangingisda ang pamalakaya? sa gilid ba ng pagcor city?

any part of Manila Bay... yun lang pinaalis na sila malapit sa pampang ng Manila dahil magiging busy na yung area na yun.. ayaw nila mangisda dun sa may bunganga ng Manila Bay.. malayo na daw sa kanila...

ako lagi

March 5th, 2012, 06:43 AM

with these latest developments, dapat talaga, i-upgrade na ang NAIA plus more police force in the metro.

dapat makipagsabayan ang DOT, DOTC, DPWH etc. sa campaign na 'to together with the lgu's.

doownn

March 9th, 2012, 04:12 AM

conclusion: tuloy po ba ang pagcor city or not?

pau_p1

March 9th, 2012, 04:14 AM

conclusion: tuloy po ba ang pagcor city or not?

tuloy na tuloy..

noypiblazer

March 9th, 2012, 05:19 AM

conclusion: tuloy po ba ang pagcor city or not?

somalosep naman koya, hindi ka ba nagba-backread ? :bash: nakatayo na nga ang solaire at ang belle grande eh :lol::nuts::nuts::nuts:

pitboz72

March 9th, 2012, 06:08 AM

news last night, si ricky razon na ang pang number 4 na pinakamayamang pinoy sa pinas! for sure lalo pa yang yayaman pagbukas ng bloombery casino!

DCRJ

March 9th, 2012, 09:38 AM

news last night, si ricky razon na ang pang number 4 na pinakamayamang pinoy sa pinas! for sure lalo pa yang yayaman pagbukas ng bloombery casino!

indeed. I hope Ricky (Enrique) Razon's Solaire Manila will be a success

http://a8.sphotos.ak.fbcdn.net/hphotos-ak-ash4/416945_3225786918079_1068719127_3150544_857384384_n.jpg

nike2.5

March 9th, 2012, 04:08 PM

what minoro mori who owns the tallest buidlding in china named the International financial center-shanghai is only 1.9 billion in assets? mori is really rich and capitalists in china industries

watcher09

March 9th, 2012, 04:19 PM

what minoro mori who owns the tallest buidlding in china named the International financial center-shanghai is only 1.9 billion in assets? mori is really rich and capitalists in china industries

Observe proper punctuation please. You read your post again.

InfinitiFX45

March 9th, 2012, 04:21 PM

Steve Wynn's Expensive Breakup :ohno: :bash: :bash: :bash:

by Vinicy Chan, Shunichi Ozasa, Joel Guinto, and Kana Nishizawa | Business Week | Thursday | Posted on March 01, 2012

http://images.businessweek.com/cms/2012-03-01/comp_wynn10__01__630x420.jpg

Two years ago casino magnate Steve Wynn and Kazuo Okada, who made his fortune supplying equipment to Japan’s huge pachinko industry, appeared to be the best of partners. Okada had invested in Wynn Resorts (WYNN) in 2000, eventually amassing a 20 percent stake and serving as the company’s vice chairman. Wynn had named fancy restaurants at some of his casino hotels Okada.

But in early February, Wynn Resorts pulled the name from the Las Vegas eatery and forcibly redeemed Okada’s ownership stake after investigators for its board said the investor, chairman of Tokyo-based Universal Entertainment, allegedly made improper payments to Philippine gaming regulators. Wynn Resorts then issued Okada a $1.9 billion promissory note for his holdings, effectively booting him from the company. That’s $870 million less than the $2.77 billion stock market value of Universal’s Wynn shares. Okada told Bloomberg that he wasn’t aware that Wynn Resorts had in 2002 amended its articles of incorporation to enable it to declare shareholders “unsuitable” and redeem their shares at a price determined by the company.

“They gave the board the report without letting me review it,” Okada says. “Even criminals would be asked to sign off on the findings to ensure there are no mistakes.” In a statement, Universal called the forced sale “outrageous” and vowed to “take all legal actions necessary.” Okada says the redemption was in part a response to Universal moving to enter the casino business in the Philippines on its own and for a lawsuit Okada filed against Wynn Resorts in January. Okada sued Wynn in Nevada, demanding information about the company’s HK$1 billion ($135 million) donation to a university foundation in Macau, home to Wynn’s most profitable casino. Wynn’s Macau casino generated 70 percent of its revenue, and it’s seeking a land grant there to build a second.

Read More: http://www.businessweek.com/articles/2012-03-01/steve-wynns-expensive-breakup

reign

March 9th, 2012, 04:23 PM

Makati Prime/Hang-tod/Sun-tex ???

what minoro mori who owns the tallest buidlding in china named the International financial center-shanghai is only 1.9 billion in assets? mori is really rich and capitalists in china industries

InfinitiFX45

March 9th, 2012, 04:37 PM

Casino operators vie for Asian jackpot :)

By Enid Tsui | FT.com | Friday | March 2, 2012 | 8:27 pm

The bitter feud between Steve Wynn, the Las Vegas mogul, and his former ally Kazuo Okada has cast fresh light on how casinos are looking beyond Macao and Singapore for new growth in Asia.

Wynn Resorts recently seized Mr Okada’s 20 per cent stake in the company, which runs casinos in Las Vegas and Macao, after accusing the Japanese gaming tycoon of bribing regulators in the Philippines and South Korea. Mr Okada denies the allegations.

While South Korea and the Philippines have small gaming markets, casino operators hope to repeat the success they have had in Macao and Singapore. After overtaking Las Vegas in 2006, Macao now generates about six times more gaming revenues than the Nevada gambling haven.

Read More: http://www.ft.com/cms/s/0/3bf16892-6477-11e1-b50e-00144feabdc0.html#axzz1odMOgcJH

InfinitiFX45

March 9th, 2012, 07:23 PM

Wynn Resorts seeks vote to remove Okada from board :ohno: :bash: :bash: :bash:

Reporting by Jochelle Mendonca in Bangalore; Editing by Gopakumar Warrier; Editing by Richard Chang | REUTERS (uk.news.yahoo.com) | Wednesday | Mar 7, 2012

http://l.yimg.com/bt/api/res/1.2/jgMWjY7ADF_ONxGAhEIKlA--/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD0zMjE7cT04NTt3PTQ1MA--/http://media.zenfs.com/en_us/News/Reuters/2012-03-07T185423Z_1_BTRE8261GIP00_RTROPTP_2_WYNN-OKADA.JPG
Kazuo Okada, chairman of Universal Entertainment Corp, bows after speaking at the ground-breaking ceremony of its casino-hotel projects in Manila January 26, 2012.

LAS VEGAS (Reuters) - Wynn Resorts Ltd said it would hold a special meeting of shareholders to remove Kazuo Okada from its board, less than two weeks after the Japanese billionaire was ousted as director of the company's Macau unit.

The falling out between the two self-made tycoons Steve Wynn and Okada came into the limelight in January when Okada filed a lawsuit against Wynn for blocking access to financial documents related to a $135 million donation by Wynn Resorts to the University of Macau.

The two sides will face off in court in a Las Vegas procedural hearing on Thursday related to Okada's lawsuit involving the university donation, which also triggered an investigation by the U.S. Securities and Exchange Commission into the issue.

Each claims the other made improper payments to foreign gaming regulators to win favor in Wynn's Macau market and Okada's Philippines operations, and the acrimony has attracted the attention of regulators and investors worldwide.

Read More: http://uk.news.yahoo.com/photos/kazuo-okada-chairman-universal-entertainment-corp-bows-speaking-photo-185423666.html

InfinitiFX45

March 9th, 2012, 07:31 PM

Judge limits Okada request for Wynn documents :ohno: :bash: :bash: :bash:

by Sue Zeidler and Ronald Grover | Reuters (uk.news.yahoo.com) | Wednesday | March 7, 2012

LAS VEGAS (Reuters) - Wynn Resorts Ltd , locked in a legal battle with one-time largest shareholder Kazuo Okada, won its first legal skirmish.

A Nevada state judge ordered Wynn Resorts to turn over only two pages of the many pages of documents that Okada's team had requested for a lawsuit related to a $135 million contribution by the Las Vegas casino to the University of Macau.

Clark County District Court Judge Elizabeth Gonzalez rejected Okada's request for other documents, which she called "overbroad."

On January 11, Okada filed suit, alleging that he had objected to Wynn's May 2011 pledge to the University of Macau Development Foundation as "inappropriate" and sought a ruling to inspect the casino company's books and records.

The judge refused Okada's request to see documents related to how Wynn spent a $120 million investment made by Okada's Aruze Corp in 2002, before Wynn Resorts went public. Okada also sought information the company used for a 2010 stockholders' agreement between Okada, Wynn Chief Executive Officer Steve Wynn and his wife Elaine.

A spokesman for Wynn had no comment on the decision. An Okada spokesman was not available.

Read More: http://uk.news.yahoo.com/judge-limits-okada-request-wynn-documents-010805626.html

tita01

March 12th, 2012, 11:04 AM

hai salamat may kalaban na tong pagcor tower na scrapped naman

Japanese to build world’s 2nd highest tower in QC

JAPAN’s Mitsubishi Electric Corp. is said to be interested in buying Manila Seedling Bank Foundation Inc.’s seven-hectare property on Edsa and Quezon Avenue in Quezon City for P100,000 a square meter to put up the second tallest tower in the world.

http://www.manilastandardtoday.com/insideNews_mstd.htm?f=//2012/March/10/news6.isx&n=news&d=/2012/March/10

sabe

watcher09

March 12th, 2012, 06:17 PM

Narnian_King

March 13th, 2012, 09:38 AM

Alam ko out of topic pero may bagong theme park na itatayo sa SUbic

Subic Eyes Sentosa-Like Airport
By JONAS REYES
March 10, 2012, 1:49am

SUBIC BAY, Philippines — This free port’s international airport area is being envisioned by the Subic Bay Metropolitan Authority (SBMA) to be developed into a tourist attraction just like Sentosa in Singapore.

An SBMA official said that such endeavor would alleviate the costly maintenance and operation of the Subic Bay International Airport (SBIA), adding that this is part of the five-year strategic plan that would help sustain the economy here.

He also said that there are compelling reasons behind the idea to redevelop the SBIA, which he admitted is the most challenging concern the SBMA is facing.

“The Subic airport is superfluous because of Clark, and it is losing. And lastly, it is one of the last remaining prime real estate assets of SBMA,” he said.

“Huge problems require huge actions for huge solutions. The plan is very bold and very ambitious, but with the support of everyone, this plan will come through,” he added.

The SBMA official also noted that the agency will not spend a single peso on the project because it will be implemented through a joint venture where SBMA will use the value of the land, currently occupied by the airport, as capital.

Since the project requires a big amount of money, the SBMA is hoping to bid the project internationally to attain international standards for the plan and design, he said.

The official explained that the basic idea is to turn the airport into something like Sentosa, a popular family-oriented resort in Singapore. The redeveloped SBIA will still be accessible because Subic is now just 45 minutes away from the international airport at the Clark Freeport because of the Subic-Clark-Tarlac Expressway.

The planned leisure complex will house at least two or three international theme parks, a new golf course, duty free shops, hotels and casino, an entertainment complex, a promenade, and a new marina and yacht club, among others. :cheers:

“The opportunities that exist today are very tremendous, believe me,” he said. “And with the help of every hand, our ambition of turning our airport into a major international tourism destination will come true.”

Juan Pilgrim

March 13th, 2012, 11:38 PM

Subic Eyes Sentosa-Like Airport
By JONAS REYES / March 10, 2012, 1:49am

I really don't get the title of this article!
It is confusing because Sentosa is an island and NOT an airport.

Subic Bay Metropolitan Authority Eyes Tourist Attraction just like Sentosa in Singapore

:horse:

InfinitiFX45

March 14th, 2012, 03:35 AM

Okada disputes Wynn right to redeem shares: lawsuit :cheers:

by Ronald Grover and Sue Zeidler | Reuters (ABS-CBS News) | Posted at 03/13/2012 | 4:37 PM

The legal fisticuffs between Steve Wynn and Kazuo Okada, Wynn Resorts' largest shareholder, escalated further as Okada counter sued in US federal court, alleging that the casino company's board breached its fiduciary duties and violated racketeering laws by voting to redeem Okada's shares.

Okada "disputes that any redemption has occurred," the Japanese businessman said in his suit, which also alleges that Wynn Resorts "under took a secret investigation" to force him off the board and "committed a series of predicate acts of racketeering, which include fraud."

Wynn Resorts had forcibly redeemed Okada's nearly 20% stake in the company after an internal investigation by former FBI director Louis Freeh revealed that Okada -- who made his fortune from pachinko and is CEO of Universal Entertainment -- had violated US anti-corruption laws.

Outside spokesmen for Wynn Resorts had no immediate comment on Okada's countersuit.

Read More: http://www.abs-cbnnews.com/business/03/13/12/okada-disputes-wynn-right-redeem-shares-lawsuit

InfinitiFX45

March 14th, 2012, 03:38 AM

Okada turns tables on Wynn, files countersuit :cheers:

by Daxim L. Lucas | Philippine Daily Inquirer | Tuesday | March 13th, 2012 | 6:53 pm

MANILA, Philippines—The corporate battle between casino giant Wynn Resorts and Universal Entertainment Corp. took a new twist on Tuesday, after the latter sued the Las Vegas-based firm for trying to push the Japanese group out of the partnership through a share buyback at a steeply discounted price.

In a press statement, Universal Entertainment—headed by Japan’s pachinko king, Kazuo Okada—said its suit against Wynn and its owner, Steve Wynn, also included complaints for violations of Nevada RICO (racketeer-influenced and corrupt organizations) statute, federal securities laws and fraud, among others.

“We are taking this action to protect our investment from what we believe to be an unconscionable course of conduct perpetrated by Steve Wynn and the Wynn Resorts board of directors to facilitate Mr. Wynn’s agenda of maintaining his absolute control over Wynn Resorts and in order to enrich himself,” Okada said in the statement.

“Our lawsuit contends that after having lost control of his previous ventures in Las Vegas, Mr. Wynn has undertaken this campaign to suppress dissenting views on the Wynn Resorts board, particularly with regard to Wynn Resorts’ unprecedented, inadequately explained and wasteful $135 million donation to the University of Macau, so that this venture would not end with the same result,” he added.

Read More: http://business.inquirer.net/49067/okada-turns-tables-on-wynn-files-countersuit

InfinitiFX45

March 14th, 2012, 01:01 PM

Wynn Sued by Okada Over $800 Million Redemption Discount :)

by Edvard Pettersson and Shunichi Ozasa | Bloomberg News | Tuesday | March 13, 2012

Battle Over Wynn Resorts Escalates

http://www.bloomberg.com/apps/data?pid=avimage&iid=iUJ2pCrLrjd4
Kazuo Okada, chairman of Universal Entertainment Corp., speaks during an interview in Hong Kong on Feb. 28, 2012. Photographer: Jerome Favre/Bloomberg

Japanese billionaire Kazuo Okada, saying Wynn Resorts Ltd. (WYNN) is run by Chairman Steve Wynn as a “personal fiefdom,” is challenging the redemption of his own 20 percent stake in the company at an $800 million discount.

Aruze USA, through which Okada invested in Wynn Resorts, disputes that any redemption occurred because Wynn is legally barred from redeeming the securities, lawyers for Okada and the holding company said in a counterclaim filed yesterday in federal court in Las Vegas.

Okada’s shares, which Wynn Resorts last month said it had redeemed at a 30 percent discount because Okada was “unsuitable,” were never subject to the redemption provision in the company’s articles of incorporation, according to the filing. Okada agreed to purchase Wynn Resorts stock before the redemption provision became effective, according to the filing.

“Wynn Resorts, for all its accomplishments, is not a corporation in any ordinary sense,” Okada’s lawyers said. “Rather, Wynn Resorts’ flamboyant chairman, Mr. Wynn, has run Wynn Resorts as a personal fiefdom, packing the board with friends who do his personal bidding, and paying key executives exorbitant amounts for their unwavering fealty.”

Read More: http://www.businessweek.com/news/2012-03-12/kazuo-okada-files-counterclaim-in-federal-court-to-wynn-resorts-lawsuit

InfinitiFX45

March 14th, 2012, 01:09 PM

Okada blasts Wynn in casino tycoon battle :)

by JAPAN Today | National | Wednesday | Mar. 14, 2012 | 07:00AM JST

http://www.japantoday.com/images/size/200x/2012/03/photo_1331662767994-1-0.jpg
The main entrance sign of Wynn Resorts (L) and the Lisboa (R) in Macau AFP

TOKYO — Japanese gambling tycoon Kazuo Okada lashed out Tuesday at his U.S. partner, accusing Steve Wynn of manipulating facts to wrest control of Wynn Resorts casinos from its largest shareholder.

In a video message posted on the website of his own firm Universal Entertainment, Okada questioned Wynn’s use of tens of millions of dollars in their pursuit of a gaming license in Macau.

He also said Wynn Resorts’ board of directors, which ejected Okada from the company last month and forcibly redeemed his shares, were not objective or independent.

“This is a transparent attempt by Steve Wynn and others not only to silence me as a director and remove the company’s largest shareholder but to enrich themselves in the process,” Okada said, speaking in Japanese.

“Steve Wynn’s ultimate purpose is to retain absolute control over Wynn Resorts and to enrich himself.”

It was the latest step in the mounting battle between the two gambling tycoons over their lucrative businesses in Las Vegas and Macau and a planned casino by Okada in the Philippines.

Read More: http://www.japantoday.com/category/national/view/okada-blasts-wynn-in-casino-tycoon-battle

InfinitiFX45

March 14th, 2012, 01:19 PM

Wynn Resorts says it’s eager to fight Okada’s counterclaim in court :ohno: :bash: :bash: :bash:

by Steve Green | VEGAS Inc | Tuesday | 13, March 2012 | 8:34 a.m.

Casino-resort owner Wynn Resorts Ltd. of Las Vegas on Tuesday criticized as ''scurrilous'' the counterclaim filed against the company Monday by board member Kazuo Okada and his companies.

Attorneys for Okada, Aruze USA Inc. and Universal Entertainment filed the 56-page counterclaim in U.S. District Court for Nevada.

The counterclaim says Wynn Resorts has no authority to redeem Okada’s $2.7 billion in Wynn stock at a discount and is critical of Wynn Resorts CEO Steve Wynn.

The counterclaim also disputes allegations — aired during a conference call last month by Wynn board member and former Nevada Gov. Robert Miller — that Okada is unsuitable to be a Wynn shareholder, because he improperly provided gifts and cash to Filipino gaming regulators.

Those charges were developed during an investigation of Okada by former FBI director Louis Freeh’s company, which submitted what is known as the Freeh Report.

''Despite its enormous length and scurrilous allegations, the Okada response fails to contain any meaningful denial of the facts detailed in the Freeh Report or Gov. Miller's conference call on Feb. 21, 2012. Wynn Resorts looks forward to having Mr. Okada's actions and the company's response presented to and adjudicated in court,'' Wynn Resorts said in Tuesday’s statement.

Source: http://www.vegasinc.com/news/2012/mar/13/wynn-resorts-says-its-eager-fight-okadas-countercl/

InfinitiFX45

March 14th, 2012, 01:28 PM

Wynn says Okada's countersuit not 'meaningful' :ohno: :bash: :bash: :bash:

by Lala Rimando | Rappler | Tuesday | Posted on 03/13/2012 9:43 PM | Updated 03/14/2012 | 4:19 PM

MANILA, Philippines - The gambling world's best friends-turned-bitter enemies continue to wash their dirty linen in the media and in the courts.

On Tuesday, March 13, Wynn Resorts Ltd stressed in a statement that the countersuit of its single largest shareholder, Japanese billionaire Kazuo Okada, did not provide "any meaningful denial of the facts" provided by an investigation.

“Despite its enormous length and scurrilous allegations, the Okada response fails to contain any meaningful denial of the facts detailed in the Freeh Report or Governor Miller's conference call on February 21, 2012," the casino firm said, referring to the investigation report by former Federal Bureau of Investigation Director Louis Freeh.

"Wynn Resorts looks forward to having Mr. Okada's actions and the Company's response presented to and adjudicated in court,” it added.

Read More: http://www.rappler.com/business/2423-wynn-says-okada-s-countersuit-not-meaningful

InfinitiFX45

March 15th, 2012, 06:57 AM

Pagcor’s Naguiat a mere ‘collateral damage’ in international casino tussle :ohno: :bash: :bash: :bash:

by Fernan Marasigan | Business Mirror | Wednesday | 14 March 2012 | 21:36

THE counterclaim by Universal Entertainment Corp. against Steve Wynn, Wynn Resorts, an officer of Wynn Resorts, and the individual members of the Wynn Resorts Board, to prevent the unjust and improper redemption of shares owned by Aruze USA Inc. is a vindication of Philippine Amusement and Gaming Corp. (Pagcor) Chairman Cristino Naguiat Jr. over allegations that he had accepted gifts from Japanese casino magnate Kazuo Okada, a proadministration legislator said on Wednesday.

“Clearly, the filing of counterclaim by Universal Entertainment Corp, is a vindication of the Pagcor chairman because it shows that Steve Wynn and Kazuo Okada are really in an intense internal corporate dispute,” said Liberal Party Rep. Ben Evardone of Eastern Samar, quoting a report on the counterclaim against Steve Wynn, to prevent the unjust and improper redemption of shares owned by Aruze USA Inc., at a 30-percent discount, and to seek damages, punitive damages and treble damages. Evardone said that based on the report, Universal Entertainment is seeking a permanent injunction, declaratory relief and multiple claims for damages caused by the actions of Mr. Wynn and the Wynn Resorts Board.

Naguiat was accused in case filed in Las Vegas, Nevada, of receiving large sum of bribes in the neighborhood of several thousands of dollars from Okada, the Japanese partner of casino mogul Steve Wynn.

“Chairman Naguiat was just a collateral damage to the intra-corporate squabble between the two parties over the control of Wynn Resorts. This should put the issue against Naguiat to rest,” said Evardone.

The allegations against Naguiat surfaced after casino operator Steve Wynn sued Okada, a former partner, in the US for allegedly bribing Pagcor officials with free accommodations at his luxury Macau hotel at $6,000 per night in the case of Naguiat, and giving gifts, including a Chanel bag, to the latter and his wife.

Source: http://www.businessmirror.com.ph/home/economy/24544-pagcors-naguiat-a-mere-collateral-damage-in-international-casino-tussle

DCRJ

March 15th, 2012, 08:57 AM

I hope this would not jeopardize Pagcor E-City now that the Senators will be meddling with it. :bash::bash:

Senate to probe ‘Entertainment City’
By Maila Ager
INQUIRER.net
2:20 pm | Thursday, March 15th, 2012

MANILA, Philippines—A full-blown investigation into the status of the multi-billion dollar “Entertainment City” is in the offing in the Senate, following the controversy involving one of its operators.

No less than the chairman of the Senate committee on games, Senator Aqulino “Koko” Pimentel III, initiated the investigation, saying the people were in the dark on the status of the project’s implementation.

“After four years since the grand plan was hatched, the people and the government are in the dark as to the status of its implementation, thus warranting a full blown investigation by the Senate,” Pimentel said in a statement on Thursday.

“Naisip ko lang mag-investigate sa (I just thought of investigating) status of the project because the project was brought to the public attention to worldwide fame because of the dispute, the conflict between Wynn and Okada,” he said in a separate interview, referring to the case filed by American casino tycoon Steve Wynn of Wynn Resorts and erstwhile partner Kazuo Okada of Universal Entertainment Corp.

Okada is one of four proponents granted licenses to build, own and operate integrated resorts in Entertainment City Manila.
“It must be a crucial, desirable project. Bakit bakit pinag-awayan (What’s the fight all about?). I think the people have the right to know the status,” Pimentel added.

The senator noted that it was already four years ago when the Philippine Amusement and Gaming Corp announced in April 2008 a grand plan to put up a Las-Vegas style casino and tourism complex near the Manila Bay to be named “Entertainment City Manila.”

But until now, even Pimentel was clueless as to the status of the project.

Asked whether he has received reports of any irregularities in the implementation of the project, Pimentel said, “None. But let’s say, the project is dormant, it’ s not keeping up with the anticipated time table, then that’s an anomaly itself.”

“Because you know, one of the reasons why that big project was undertaken is for the anticipated benefits the project will bring in tourisms…” he further said.
Asked again if the implementation of the project was slow, the senator said, “I have no idea as to its status that’s why we will get from Pagcor itself and from the locators and the licensees.”

source: http://newsinfo.inquirer.net/161999/senate-to-probe-%E2%80%98entertainment-city%E2%80%99

rain34

March 15th, 2012, 09:43 AM

Bosnyboy

March 15th, 2012, 10:25 AM

Sus di na meet ang time table, unahin muna ni pimentel ang mga govt projs. Yung naia 3 bat di pa bukas? Yung northrail bat drawing pa ren? yung mrt 7, mrt 1 ext asan na? Yung cat 2 status ng airport ano na? Yan ang unahin ni koko loko kesa etong entertinament city na obvious na gumagalaw na.

Jose Mari

March 15th, 2012, 02:34 PM

There goes that cycle of STUPIDITY of the Philippine Government going into full gear with the entry of the legislators into the picture, and mind you, I'm not just citing this particular administration. It's been happening time immemorial in this country. :ohno:

Hardly any mega projects escape this corruption ridden and snail paced system and political rigmarole our bureaucracy lets these foreign investors go through, where we end up reinforcing our "Basket Case of Asia" reputation.

Nakaksawa na nakakahiya na nakakasuka talaga. Sana magtuloy-tuloy pa rin itong project na 'to maski papaano... hay.

xxxriainxxx

March 15th, 2012, 03:52 PM

Tuloy pa rin naman ang construction ng Solaire diba?

ballpoint

March 15th, 2012, 04:02 PM

^Yes, just passed by along the DFA area earlier. There were lights and activity in the area.

KnightOfTheFlag

March 15th, 2012, 06:31 PM

^Yes, just passed by along the DFA area earlier. There were lights and activity in the area.

How about Belle Grande?....is there any construction activity going on?

DCRJ

March 16th, 2012, 03:44 AM

How about Belle Grande?....is there any construction activity going on?

There's no activity at Belle Grande Manila as of March 15, 2012. Photo taken by me at Airport Road area in Baclaran on March 15, 2012 Thursday around 5pm

http://a6.sphotos.ak.fbcdn.net/hphotos-ak-ash4/424380_3264304320990_1068719127_3166201_1237932385_n.jpg

KnightOfTheFlag

March 16th, 2012, 11:15 AM

There's no activity at Belle Grande Manila as of March 15, 2012. Photo taken by me at Airport Road area in Baclaran on March 15, 2012 Thursday around 5pm

http://a6.sphotos.ak.fbcdn.net/hphotos-ak-ash4/424380_3264304320990_1068719127_3166201_1237932385_n.jpg

OMG!...this is stressing me out :sad2:....what could have happened?? :?:?:?...I hope someone here for the inside can update us....they were going strong then suddenly stopped...this is very unlike SM way of construction...

JulZ

March 16th, 2012, 01:02 PM

nasa MOA Arena ang mga construction workers nyan:lol:

energy168

March 16th, 2012, 01:31 PM

OMG!...this is stressing me out :sad2:....what could have happened?? :?:?:?...I hope someone here for the inside can update us....they were going strong then suddenly stopped...this is very unlike SM way of construction...

Hopefully, there will be news next week. Belle is done with the main structure. Interior is LR and other partners to finish.
We wait for official word. Di nakatulong ang okada-wynn fight, or the senate probe idea. Hopefully, new investors from LV or Macau will come in and spice up the job.

watcher09

March 16th, 2012, 03:20 PM

Hopefully, there will be news next week. Belle is done with the main structure. Interior is LR and other partners to finish.
We wait for official word. Di nakatulong ang okada-wynn fight, or the senate probe idea. Hopefully, new investors from LV or Macau will come in and spice up the job.

Don't think so. Solaire is moving and starting to hire employees. SM will not mothball a poject as big as Belle. SM has influence in China and can bring patrons if they need to do so. Again, SM for me is the number 1 risk taker in the PH and is not afraid of investing even in troubled times and in any location.

asc25dbtc

March 16th, 2012, 04:07 PM

Belle Grande as of March 15, 2012:

http://farm8.staticflickr.com/7191/6987184287_80e2ba1b1e.jpg

http://farm8.staticflickr.com/7197/6987177789_1feb3ed4c6.jpg

Solaire as of March 15 also:

http://farm8.staticflickr.com/7199/6987176357_338dc724ac.jpg

http://farm8.staticflickr.com/7188/6987175093_5f33cb9ee2.jpg

http://farm8.staticflickr.com/7054/6987173867_895d624883.jpg

Aseana One:
http://farm8.staticflickr.com/7062/6841061680_8284445d3f.jpg

reyvil888

March 16th, 2012, 05:24 PM

Nice updates. Solaire looks huge !

pitboz72

March 16th, 2012, 06:31 PM

solaire will open on february next year,they will start to hire gaming staff on august to september this year. the age requirments, 21 to 27 years old for casino croupier and atleast 2nd year college.

mphirez

March 19th, 2012, 03:00 PM

guyz, share ko lang...i been working now in the area of Aseana business park...i try to take some pics...kaso ang higpit ng mga guard sa area...yun lang...hehe...

KnightOfTheFlag

March 19th, 2012, 04:42 PM

^^^^ Thanks for sharing :)...if the guard is so strict then there must be something going on in there thats BIG and IMPORTANT and thats a good sign....anyway any pix would be nice! :)

chillendawg

March 20th, 2012, 11:38 AM

Razon's Bloomberry completes major infra work on Manila resort
Posted at 03/20/2012 4:30 PM | Updated as of 03/20/2012 4:30 PM

MANILA, Philippines - Bloomberry Resorts and Hotels Inc. said it has completed major infrastructure works at its $1.2 billion integrated casino complex at the Entertainment City on the Manila Bay reclamation area.

Bloomberry’s onging construction of Solaire Manila complex
at Entertainment City Manila. / Courtesy of Bloomberry

Bloomberry, a listed company led by ports tycoon Enrique Razon, recently held a concrete topping out ceremony for Solaire Manila.

"It is getting more exciting as we shift to higher gear towards inaugurating our integrated resort. We are doubly proud because Solaire Manila will be the first resort to be built and operational here in Entertainment City. Once open, I have high hopes that Solaire will immediately contribute to furthering tourism in the country, and the economy in general,” Razon said, in a statement.

The development of the first phase of the resort is estimated at $650 million. Phase 1, which covers 180,000 square meters of floor area, includes a hotel tower, ballroom and convention facilities, gaming areas, restaurants, retail shops, and wellness facilities. A 10-storey parking building is also being built.

Bloomberry's resort complex is expected to attract tourists, as well as create over 4,600 jobs.

The Entertainment City Manila is a multi-billion dollar project of the Philippine Amusement and Gaming Corp. (Pagcor), covering 120 hectares of prime reclaimed land on Manila Bay.

InfinitiFX45

March 21st, 2012, 06:00 PM

Okada, other Pagcor investors to fund NAIA Expressway :cheers: :banana: :banana: :banana:

by Lois Calderon | ANC | Wednesday | Posted at 03/21/2012 7:58 PM | Updated as of 03/21/2012 9:29 PM

MANILA, Philippines - The government has widened its NAIA Expressway project to stretch all the way to Pagcor City, and Pagcor's controversial investor, Kazuo Okada, again comes up as among its financiers.

Originally, the elevated expressway will run from NAIA’s sales interchange that's linked up to the Skyway to Roxas Boulevard.

But Public Works Secretary Rogelio Singson said Pagcor’s chairman Cristino Naguiat and the four investors in its so-called Entertainment City want the expressway to be extended to Diosdado Macapagal Avenue.

The NAIA Expressway project is one of the government's large-scale public-private partnership projects, contracts for which, President Aquino wants to be clean.

Singson sees no problem in having Okada on board.

“That's the concern of Pagcor. Whether it's Okada or some other investors coming from the Pagcor City, that's for them to agree on. But we met with the representative of that group and they have no problem,” he said.

Okada's Universal Entertainment is one of Pagcor City's licensees. Others are Andrew Tan's Alliance Global, which tied up with Genting Hong Kong, Henry Sy’s Belle Corp. and Enrique Razon's Bloomberry Investments.

Okada is embroiled in a corporate and legal battle with American casino billionaire Steve Wynn, who alleged Okada bribed Pagcor officials to get the license.

Singson said Pagcor's investors will fund half of the P12-billion NAIA expressway project. The rest will be shouldered by whoever wins a bidding slated for September.

“We're winding up our meetings and just agreeing on the investment that we expected.”

“Originally there was government subsidy, we're taking out that government subsidy and the locators are the ones providing that component so we will still go for bidding in terms of who will be the operator, who will construct the project, but with the assurance that there will be investment coming from the locators,” Singson added.

This early, Manuel Pangilinan's Metro Pacific Investments Group said it's interested in joining the bidding.

“All of those projects in the high-standard highways plan are of interest to us. In particular, the Cala and NAIA expressway are of interest to us,” said MPIC president Jose Ma. Lim.

Singson said apart from Metro Pacific, the Citra group and Ramon Ang's San Miguel have expressed interest in investing in the project.

Source: http://www.abs-cbnnews.com/business/03/21/12/okada-other-pagcor-investors-fund-naia-expressway

mphirez

March 24th, 2012, 04:14 AM

AGI sets P35 billion capex this year

Alliance Global Group Inc. (AGI) has set a capital expenditure budget of P35 billion this year as the conglomerate expects earnings to grow by a fifth, fueled by the growth of its real estate, tourism and consumer businesses.

In a chance interview with reporters, AGI chairman Andrew Tan said that the holding firm will spend bulk of its capex to support capital and development expenses for its property and tourism projects.

“We believe in tourism. It will really be the driver of growth in our country in the next so many years,” he added.

The conglomerate’s capex will be sourced from internally generated funds, Tan said, adding that the company has P70 billion in cash.

This year, AGI’s net profit is seen to grow by 20 percent, while Megaworld’s net earnings will expand by more than 10 percent, Tan said. Both companies have yet to disclose their results for the full year of 2011.

“We are looking [at] close to 20 percent growth this year for the Alliance Group driven by real estate, tourism and Emperador [Distillers Inc.]. Emperador has been doing quite well last year and we think it will do well this year,” he said.

AGI’s net profit grew 62.6 percent to hit a record P12.3 billion in the January to September period, citing strong contributions of its property and consumer businesses as well as a one-time gain from the acquisition of Global-Estate Resorts Corp.

Without the non-recurring gain of P3.2 billion, net income jumped by 31 percent year-on-year.

In the first nine months, the conglomerate’s net profit attributable to equity holders rose by 83.8 percent to P9.9 billion. Megaworld’s consolidated net income grew 62 percent to P6.70 billion.

AGI also received P2.1 billion from its share in the net income of Travellers, which grew by 68 percent to P4.2 billion for the period.

The expansion of its tourism business will enable AGI, through Megaworld Corp., Global-Estate Resorts Inc. and Travellers International Hotel Group Inc. to have 5,000 hotel rooms in the next five years.

“The hotels rooms will be in Manila, Newport, Bayshore, Cebu, Iloilo and Boracay. We will continue to identify places to build more hotels,” Tan said. “With that, we hope to bring in around 1 million tourists with 5,000 rooms,” he added.

Travellers, a joint venture between the Genting Group and AGI, has an existing integrated leisure and entertainment complex called Resorts World Manila in Newport City. It is also constructing a second one called Resorts World Bayshore in the Pagcor Entertainment City complex along Roxas Boulevard.

AGI also owns Golden Arches Development Corp., the master franchise holder of McDonald’s in the Philippines.

mphirez

March 24th, 2012, 04:31 AM

Philippines IR

It’s difficult to give a precise figure for the annual value in GGR of the Philippines market as it’s divided between private listed companies and the state-owned operator-cum-regulator the Philippine Amusement and Gaming Corporation. PwC, a specialist in professional business services said in its January report ‘Playing to win: The outlook for the global casino and online gaming market to 2014’, that it expected the country to generate approximately US$679 million in casino revenue in 2011—possibly nearly doubling that to US$1.2 billion by 2014 if all the infrastructure proposed for the Manila Bay entertainment zone is completed.

In Genting Hong Kong’s 2010 annual report, the company said Resorts World Manila’s first full calendar year of operation following its soft opening in August 2009, achieved US$355.8 million in total revenue and US$102 million EBITDA (earnings before interest, taxation, depreciation and amortisation). PAGCOR’s total remittances to the country’s Bureau of the Treasury in 2010 were PHP10.343 billion (US$238.8 million).

If existing IR infrastructure were the only measure used by international investors, then the Philippines would be out in front in the race for third place in the IR market behind Macau and Singapore. But it’s not the only measure used. Investors care about the security of their investment and about regulatory transparency. There the Philippines is arguably less competitive than some of its neighbours. It does however offer tax rates (25% on the ‘grind’ or mass-market and 15% on the VIP, plus 2% levied in both cases on restoration of cultural heritage) that are lower than Macau’s 39% across the board. The rates are still a little higher than Singapore’s applicable tax of 22% on the mass and 12% on the high roller segment (inclusive of gaming tax and goods & services tax).

Resorts World Manila has benefited from having a local partner. That seems to have given it something of a buffer against the sharp swings that can occur in terms of regulatory approach and political mood in the Philippines. The country is a democracy, which in theory should assist in creating some transparency. But it is also one of the region’s most boisterous and fractious political landscapes. There’s constant bickering among lawmakers and claims and counter claims of corruption. That’s not necessarily what investors are looking for when seeking gaming opportunities. Volatile politics can produce volatile business outcomes. In South America in mid-September, the populist left-wing president of Ecuador gave casinos there just six months to close following what many in the industry regarded as a deliberately loaded referendum.

magmario

March 24th, 2012, 01:48 PM

resorts world bayshore to have its ground breaking by june 2012!
http://www.businessmirror.com.ph/home/top-news/24973-phl-may-surpass-vegas-singapore-game-revenue-by-2016

alexbam2006

March 24th, 2012, 03:03 PM

Pagcor to shut down state-run casinos near Entertainment City

State-run Philippine Amusement and Gaming Corp. (Pagcor) said government-owned casinos near the Bagong Nayong Pilipino Entertainment City would be closed ahead of the commercial operation of the gaming and entertainment complex.

"I think we have decided to close the casinos near the airports and we are looking at Heritage Hotel. But I assured them na walang mawawalan ng trabaho. Actually, maganda nga ang choice nila ngayon. They could still stay with Pagcor or they will be pirated by private sector," Cristino Naguiat, Pagcor chairman and president told reporters during the Economic Journalists Association of the Philippines-San Miguel Corp. Business Journalism Seminar.

"So, those are the things that we are looking at, because we could really not compete with these big casinos," Naguiat said.

Naguiat said the license of Casino Filipino at Heritage Hotel would expire next year, while that of Airport Casino Filipino expires on 2014.

He said Pagcor is open to proposals for establishing casinos outside Metro Manila.

"We are very open to it, but they have to put a big investment. They should be putting about $300 million to $500 million before granting them a license," Naguiat said.

"If they are willing to invest up to $500 million, we will study it. Everything should be cleared by the local government. Everything should be approved by the grounds. It has to be community acceptance," he added.

Pagcor operates 13 casinos in key cities of Metro Manila and in the country's major island groups.

Besides casinos, Pagcor also operates eight exclusive, members-only slot machine VIP clubs as well as three slot machine arcades in major cities across the country.

In 2011, Pagcor earned P36.65 billion in revenues, up from the previous year’s P31.46 billion.

This year, Pagcor sees a “more challenging” environment as the agency expects “fiercer competition” from hotel-casinos at the Entertainment City in Manila.

SOURCE: http://www.interaksyon.com/article/27743/pagcor-to-shut-down-state-run-casinos-near-entertainment-city

DCRJ

March 25th, 2012, 12:36 AM

resorts world bayshore to have its ground breaking by june 2012!
http://www.businessmirror.com.ph/home/top-news/24973-phl-may-surpass-vegas-singapore-game-revenue-by-2016

saving the best for last :eat:

filcan

March 25th, 2012, 01:56 AM

^^Wynn is shaking in his boots.

InfinitiFX45

March 25th, 2012, 11:39 PM

Pagcor expects $10B revenues from new casinos :)

by KRISTA ANGELA M. MONTEALEGRE | Manila Star | Monday | March 26, 2012 | 00:00

CLARKFIELD, Pampanga: State-run Philippine Amusement and Gaming Corp. (Pagcor) expects its integrated hotel and casino project along Roxas Boulevard to beat those in Las Vegas and Singapore, and boost the government agency’s revenues in the next four years.

At the sidelines of the Economic Journalist Association of the Philippines-San Miguel Corp. Business Journalism seminar, Pagcor chairman Cristino Naguiat said that its Entertainment City project is expected to generate $10 billion by 2016, when all four casinos become operational.

“This is easily achievable considering that Singapore’s gaming revenues reached $5.5 billion in 2011 and is targeted to hit $7 billion this year,” he said, adding that Singapore only had two operating casinos in 2010.

Belle Corp. of the Sy-led SM group; Travellers Hotel International Group Inc., a joint venture between Alliance Global Group Inc. and Genting Hong Kong; and Universal Entertainment and Bloomberry Resorts and Hotels Inc. have been granted licenses to build hotels and casinos in the area.

With a minimum investment of $1 billion from each of the companies, the Entertainment City will have a capacity to accommodate one million tourists, a tenth of the Department of Tourism’s tourist arrival target of 10 million by 2016.

He said that these resorts will target whole families and package gaming with tours of various destinations in the country.

To improve access to the Entertainment City, the four locators are setting up a P6-billion fund to finance the construction of a toll road connecting it to the three terminals of the Ninoy Aquino International Airport.

Naguiat said that the government could bid the project by next month under its public-private partnership program.

The Entertainment City project will significantly boost Pagcor’s revenues in the medium-term. This year, the agency’s revenues is expected to grow by a quarter to P45 billion from P36 billion in 2011, as it continues to package gaming and tourism to overseas travelers, Naguiat said.

The Pagcor chief added that renegotiation of contracts with licensees and services providers will allow the agency to get a bigger share of their revenues.

Pagcor is considering closing the operations of two nearby Pagcor casinos, one in the Heritage Hotel and the other near the international airport, whose lease contracts will expire in 2013 and 2014, respectively.

Naguiat assured that the affected employees will be absorbed by other casinos with the four Entertainment City locators expected to hire a large number of experienced gaming personnel.

Source: http://www.manilatimes.net/index.php/business/top-business-news/19963-pagcor-expects-10b-revenues-from-new-casinos