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Old February 10th, 2010, 07:40 AM   #101
b_two
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sabi nga ni robin padilla... "wag kang aayaw, think positive. wag kang aayaw, think positive..."
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Old March 6th, 2010, 07:10 AM   #102
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from inquirer.net:

SM joins $1B casino project

Alliance gains on Star Cruises tie-up

Thomson Financial
First Posted 11:38:00 04/03/2008


MANILA, Philippines -- SM Investments Corp., the country’s second-largest conglomerate by market value, said on Thursday it would participate in a $1-billion casino project in Manila.

SM Investments made the disclosure to the Manila stock exchange but did not give other details about its participation in the project. The company has interests in shopping mall, banking and property development businesses.

The 40-hectare Bagong Nayong Pilipino-Manila Bay Integrated tourism project consists of a casino, hotels, shopping malls and other entertainment facilities.

Another local conglomerate, property and food company Alliance Global Group Inc., said in a separate statement it had bought 2.4 billion shares in a Philippine gaming company, Travellers International Hotel Group Inc., for P2.38 billion ($57.2 million). Travellers has a pending application to participate in the PAGCOR-led project.

"PAGCOR has recently confirmed that Travellers is qualified to participate in the project," Alliance Global said.

Alliance Global, which holds the business interests of local tycoon Andrew Tan, has a controlling stake in Megaworld Corp., the Philippines' second-biggest property developer by market value.

Alliance also has a substantial stake in the local franchise holder of the McDonald's food chain and owns brandy maker Emperador Distillers Inc.
On Wednesday, Malaysian cruise liner Star Cruises said it would invest $335 million in the casino project in Manila by buying a 50-percent stake in Travellers.

The deal between Star Cruises and Alliance will be conditional on the license being issued.

Star Cruises is listed in Singapore and Hong Kong. It is a unit of Malaysian gaming company Resorts World Bhd. Star Cruises has also invested in a casino and hotel project in Macau.

At 10:22 a.m. (0222 GMT), Alliance shares were up 8.8 percent at P4.35.
SM Investments rose 0.9 percent to P285.00 following a brief trading suspension ahead of its announcement regarding its participation in the casino project. (By Enrico dela Cruz)
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Old March 6th, 2010, 07:17 PM   #103
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why do I feel like we are trying too hard with this project?
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Old March 7th, 2010, 06:50 AM   #104
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it follows the old filipino adage, "pag may tiyaga, may nilaga."
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Old March 8th, 2010, 11:07 AM   #105
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I think it's getting a hard time to get the investors construct their respective businesses.
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Old March 9th, 2010, 08:26 AM   #106
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very good!
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Old March 9th, 2010, 09:03 AM   #107
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great development
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Old March 9th, 2010, 11:13 AM   #108
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Quote:
Originally Posted by b_two View Post


MOVE OVER VEGAS... STEP ASIDE MACAU...

ETO NA SI JUAN DELA CRUZ... GO, GO, GO... PUMAPAIMBULOG!!!
lol you gotta love sarcasm. Because this will never be bigger or better than Vegas baby.
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Old March 12th, 2010, 07:12 PM   #109
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trying too hard and a bit delusional at that.
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Old March 25th, 2010, 06:50 AM   #110
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Pagcor’s entertainment city
to start Phase 2 development

Quote:
Originally Posted by pinas4real View Post
http://www.malaya.com.ph/03252010/busi2.html
BY GENIVI FACTAO
The Philippine Amusement and Gaming Corp.’s (Pagcor)’s Entertainment City will soon shift to the second phase of development as foreign investors are about to start construction work.

The gaming and entertainment complex will be built on 120 hectares of prime land at the Manila Bay reclamation at a cost of $15 billion.

Pagcor spokesman Dodie King said Entertainment City, also known as the Bagong Nayong Pilipino, will be completed in 10 years in three phases.

Phase 1 involves land development and fusing of plans of proponents. Construction by local mall giant SM Group has already started.

"Under Phase 2, two proponents -- Genting Berhad Group of Malaysia and Bloombury Investments Ltd. – will start construction anytime while SM continues its development," he said.

"Genting will put up a theme park the like of Universal Studio. There will be a sports stadium, theaters," he said.

Genting is the proponent of the Sentosa island development in Singapore.

He said another project in the pipeline is a monorail that will link Entertainment City, the airport and Newport City.

"The monorail system is included in the plan. We are still looking for a proponent and it may be started in the second or third phase of the development," King said.

The Entertainment City is aimed at increasing tourist arrival and make the country compete with Macau in gaming.

"We can offer not only gaming, but also entertainment plus other destinations like Boracay," he said.

King said the country’s main challenge is competition from other countries that are also developing their entertainment and gaming industry.

He named Vietnam and Cambodia. Taiwan is also mulling on putting up gaming and entertainment centers.

Macau and Singapore, the regional gaming leaders, are also expanding.
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Old April 5th, 2010, 04:34 AM   #111
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how tall exactly is the "Manila Eye"
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Old April 6th, 2010, 09:17 AM   #112
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from gmanews.tv

Razon enters Pagcor Bay Shore project

Businessman Enrique K. Razon Jr., head of multinational port operator International Container Terminal Services, Inc. (ICTSI), has bought a gaming company that will build a casino at the Bagong Nayong Pilipino project.

In a statement, Razon said he had acquired a controlling stake in Bloombury Investment Holdings, Inc. from Jose Ch. Alvarez, owner of Columbian Motors Corp.

"[Razon] has acquired a controlling interest in Bloombury from fellow businessman Jose Ch. Alvarez, and is set to infuse fresh equity of P5 billion or $100 million," according to the statement.

Bloombury is one of four companies granted a provisional license by the Philippine Amusement and Gaming Corp. (Pagcor) to set up and operate gaming and entertainment facilities at the Bay Shore Bagong Nayong Pilipino Entertainment City project at the Manila Bay reclamation area in Parañaque.

Other companies granted licenses were Travellers International Hotel Group, Inc., the partnership between the Andrew L. Tan-led Alliance Global, Inc. and casino-resort operator Genting Hong Kong Ltd., SM Investments Corp. and Universal Entertainment Corp. (formerly Azure Corp.), which makes gaming machines and is a co-investor in the Wynn chain of casino hotels in Las Vegas and Macau.

Rafael Butch A. Francisco, president and chief operating officer of Pagcor, earlier said construction at the Bay Shore Entertainment City was expected to start in the latter part of the year.

Razon’s entry into the Pagcor project came after his exit from the power transmission business. Last month, Henry Sy Jr.’s OneTaipan Holdings, Inc. bought Monte Oro Grid Resources Corp. from Razon’s group for $350 million.

Monte Oro owns 30 percent of the National Grid Corp. of the Philippines, the private utility that runs the country’s power transmission highway.

Razon’s statement said Bloombury was in the final stages of design development for its project in Bay Shore.

Construction is expected to start in the third quarter at an estimated cost of $400 million for the first phase.

"The complex will include two five-star luxury hotel towers of over 1,000 rooms within a world-class entertainment and convention facility," the statement said.

The complex will be "fully operational in two years and is expected to stimulate growth not only in the hotel and restaurant sector, but also in the construction and services sectors." Razon’s ICTSI operates the Manila International Container Terminal. Other key operations are in Brazil, Poland, Ecuador and Madagascar.

At the end of 2009, ICTSI’s revenues dropped by 9 percent to $421.7 million. Net income fell by 15 percent to $54.9 million due to declining global trade.

ICTSI shares gained 25 centavos to P23.50 on Monday. — Emilia Narni J. David, BusinessWorld
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Old April 13th, 2010, 04:27 PM   #113
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I'm concerning about the Construction of Pagcor tower because it is adjacent to the airport runway, which is it they gonna turn down the project or they gonna approved it?
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Old April 14th, 2010, 10:46 AM   #114
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Both PAGCOR administration and the Airport Administration are working on that issue. They are trying to find a way to build a tall tower within the 5km radius of the airport...
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Old April 14th, 2010, 12:50 PM   #115
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Quote:
Originally Posted by jongbasco View Post
trying too hard and a bit delusional at that.
If we didn't "Try hard" we wouldn't accomplish anything. Anyways I digress.

I hope they can fix it... but I guess air safety above everything else, unless they move the aiport somewhere.
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Old April 15th, 2010, 06:50 AM   #116
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Quote:
Originally Posted by jongbasco View Post
why do I feel like we are trying too hard with this project?
because they are
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Old April 16th, 2010, 06:21 AM   #117
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Quote:
Originally Posted by DCRJ View Post
Asia threat to Gold Coast theme parks
Thursday, February 11, 2010 at 9:35pm

http://www.goldcoast.com.au/article/...oast-news.html

"Tanya Westthorp | February 11th, 2010

GOLD Coast theme parks are under the pump to reinvent themselves as Asia amps up the competition to steal the region's thrillseekers, pouring billions of dollars into new mega theme parks.

China, Singapore, Korea and Japan will all spend billions opening big-name theme parks, including a Paramount Movie Park, Universal Studios and China's first Disneyland.

The $A5 billion Universal Studios Singapore will offer visitors the world's highest duelling roller-coasters, a zone themed after the Madagascar animated movie, six hotels with 1800 rooms, a spa sanctuary, shopping mall and the world's largest marine life park with 700,000 species.

It will draw 15 million visitors during its first year from its opening this year, with foreign arrivals accounting for 60 per cent.

The theme parks will be among thousands planned for the Asian region, pushing the Gold Coast's Dreamworld, White Water World, Sea World, Movie World and Wet 'n' Wild behind the competition.

A new multimillion-dollar ride each year will no longer cut the mustard: Gold Coast Tourism says our theme parks will need to reinvent themselves to avoid falling off the radar.

Dreamworld spokeswoman Shelley Winkel said the Coomera-based park was already trying to think outside the square, taking on the QDeck experience and planning night events, including a Valentine's Day party and a 'Screaming Queens' event aimed at attracting the gay market.

Ms Winkel said Dreamworld had launched a marketing campaign in China but the opportunity to cuddle a koala and then jump on a roller-coaster would hold the Gold Coast in good stead.

But a Pacific Asia Travel Association report said theme parks were entering a new era of integrated development -- mixing hotels, gaming and theme parks.

The Philippines will become a major entertainment destination, with a $US15 billion Entertainment City being built with Las Vegas-style gaming venues, first-class hotels, shopping malls, museums, cultural and sport centres as well as entertainment and theme parks, including a Warner Bros theme park.

Merlin Entertainments Group, the world's second-largest attractions operator with 35 million visitors a year, will open a 51ha, $US200 million Legoland theme park Malaysia in 2012.

The report said China planned to add another 2000 theme parks to its 2500 existing theme parks, which are valued at $22 billion."
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Old April 16th, 2010, 06:28 AM   #118
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Quote:
Originally Posted by yhuanista07 View Post
Problems for Proposed Structures

The Civil Aviation Authority of the Philippines (CAAP) held a discussion with PAGCOR Amusement and Gaming Corp. over a decision to approve or turn down plans to construct a supertall Pagcor Tower, which will dominate the skyline around Manila Bay

Plans are also afoot to construct a huge ferris wheel, modeled after the London Eye, which would be about 135 meters tall. Both structures would be the centerpiece of the proposed Pagcor City.

The area lies within the 5-kilometer radius of the Ninoy Aquino International Airport (NAIA), where the height of infrastructure is regulated by the CAAP. Within this radius, height of buildings is limited to 56 meters.

This Height restriction laws is aimed to protect the air traveling public, either from airplane colliding with the tall tower or any man-made edifice. Most often the infrastructure themselves become sort of an obstruction, preventing the radio signals coming from the NAIA instruments landing system to be properly received by airplanes, disorienting pilots, according to the CAAP.

Hotels, state-of-the-art theaters, gaming centers and residential villages, condominium and hospitals that are integral parts of Pagcor City would have an average height of 100 meters.
This problem is now confronting Pagcor developers, not having seen in advance the limitation imposed by aviation authorities before they committed to breaking the ground on the new city by the bay that would have rivaled the gambling entertainment mecca Las Vegas.

CAAP sources said they might compromise and allow the 100-meter-tall infrastructure such as the condominium and hotels to proceed with the construction.

However, the green signal for the Pagcor Tower and the “Manila Eye” Ferris wheel are being held in abeyance.

CAAP Director General Ruben Ciron said he had been updated on the project and attending to problems, consulting with his men to find a solution so that the multibillion peso project could proceed as planned “These tall projects of Pagcor could be built in the reclaimed land and become the centerpiece of the gambling city if the Naia runway complex and the airport itself would be relocated instead,” according to one observer.

President Gloria Macapagal Arroyo announced that the Diosdado Macapagal International Airport (DMIA) will be the new premier airport of the country to improved the country's economic competitiveness. NAIA will be closed to give way for the airport.[7]

That plan can be possible if Makati and The Fort in Taguig could be connected to Clark by a high-speed “bullet train” network like the one connecting Central Tokyo to Narita Airport. Travel between the two city take about an hour with the help of Shinkanshen trains.

A CAAP top official said the tower and Manila Eye could be completed if they are located either in Navotas, Calamba or Santa Rosa, Laguna, which is 25 kilometers away from the NAIA but definitely not at the reclaimed area in Manila Bay.

from wikipedia

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Old April 16th, 2010, 06:32 AM   #119
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Quote:
Originally Posted by boy_turista View Post
Renaissance Man
By Roger Gros Fri, Apr 02, 2010

Source: http://ggbmagazine.com/issue-printer...o-4-april-2010



He just might be the most powerful man in gaming no one knows. Except Steve Wynn, that is. Kazuo Okada, the owner of Aruze Gaming, owns more stock in Wynn Resorts than does the man (or woman-his
ex-wife, Elaine) after which the company is named.


When Wynn decided to get back into gaming after selling Mirage Resorts to MGM Grand in 2000, he didn't want to go the public financing route. So he tapped into powerful and rich friends, business associates and clients to get Wynn Resorts off the ground. One of the richest of his friends is Okada. So after naming a restaurant after the Japanese pachinko king and naming him vice chairman, Wynn convinced Okada to become an investor.


When the company went public, Okada and Wynn had almost equal stakes, but after Wynn's divorce, Okada became the largest shareholder in the company at 19.9 percent. It's a relationship that has worked well. Okada provided the money and Wynn Resorts has provided significant profits, so far, particularly coming from Macau.


But the pot at the end of the rainbow is in Okada's homeland. For years, the Japanese government has flirted with casinos. Although the nation has an odd mix of gaming already legal (or semi-legal)-horse, motorboat, bicycle and motorbike racing, along with lotteries and the most Japanese off all forms of gambling, pachinko-casinos make sense in a country trying to expand its tourism base. The lessons of Singapore will not be lost on this island nation.


Last year, for the first time in 54 years, the Democratic Party of Japan won election and every issue was sent back to the drawing board, including gaming. Okada says he has been advising the new government on how to best legalize gaming.


"We have been waiting for many years to legalize gaming in Japan," he says. "We believe that it will extend the attraction of everything that Japan has to offer and draw many more tourists than we get today. I give the new government the truth about gaming and how it can be used to benefit the entire country. I think because the government is open to doing new things that there is a very good chance that gaming may be approved soon. Maybe not in 2010, but soon thereafter."


While no details about any gaming measure have been released, some experts suggest it could include four Singapore-style meta-resorts scattered in some of the country's major cities, including Tokyo.


"Politicians are very weak in showing the will to do something," says Okada. "Casinos should be opened, against the backdrop of employment and tax revenue problems."


Okada says opposition from pachinko parlor owners is not likely because the audience is separate and distinct.

"Pachinko attracts an entirely different kind of player for a different reason," he says. "Pachinko players go to the parlors several times a week, whereas the same player might visit a casino once every month or couple of months. So I don't believe casinos would be a threat to the pachinko market."


As for the Philippines, Aruze is committed to building an integrated resort in Manila on the site of Entertainment City, which the Philippine Amusement and Gaming Corporation (PAGCOR) is promoting. But there are some strings attached.


"We are expecting to be granted a special tax relief for building in an economic development zone," he says. "Once that tax break is approved, we will begin construction on stage one of what will be three or four stages. When completed the project will cost at least $1 billion."


It has been reported that Okada wants to own more than 40 percent of the development, which is currently prohibited by the Philippine government for a foreign company.


"If approvals are made officially, we are ready to begin construction quickly," Okada says.
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Old April 16th, 2010, 06:33 AM   #120
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Quote:
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PEZA MAKES IT OFFICIAL



It’s been a long time coming ... Still it’s nice to be certified and official! PAGCOR is now duly recognized as the Operator/Developer of Bagong Nayong Pilipino Entertainment City Manila. This is another cog in the wheel for PAGCOR’s vision to establish a world class entertainment city right at the heart of Asia.


Philippine Economic Zone Authority or PEZA is the arm of the Department of Trade and Industry “tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country proclaimed by the President of the Philippines”. The Bagong Nayong Pilipino is primed as a special economic zone.


The Certification shall further boost confidence of investors who has a stake at and those that are positively looking into the potential of PAGCOR’s Entertainment City as a tourism central recognized globally.

That would hint now Aruze to jumpstart the project...
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