Forum Support Old55 Posted February 20, 2012 Forum Support Posted February 20, 2012 Anyone know of this deal?http://www.comps4free.com/philipines-casino-begins/The long-anticipated construction has begun on a new Manila casino in the Philippines. This project is budgeted for $2 billion, (US$$$!!) and it’s the brainchild of Japanese casino magnate Kazuo Okada and his company, Universal Entertainment Corporation. $1 billion of the money is being put up by Universal, while the other $1b is coming from creditors.As for the specifics of the casino, the target completion date is set for 2014, and it will span 110-acres when finished. Additionally, there will be three hotel towers, an artificial domed beach, and a convention center.More fun in da Philippines.http://www.reuters.com/article/2012/02/20/us-wynn-idUSTRE81I0ED20120220Wynn has accused Okada, (Wynn’s Japanese partner) who is constructing a $2 billion casino in the Philippines, of improper cash payments and gifts totaling about $110,000 to foreign gaming regulators. So far there has been no formal regulatory investigation into Okada's business in the Philippines.Cristino Naguiat, chairman of Philippines government regulator PAGCOR, said its officials had not received gifts in cash or any kind during his tenure which began in 2010, according to a statement emailed by PAGCOR. He added that it was customary to provide complimentary accommodation to visiting casino executives and PAGCOR did so in the Philippines. :hystery: Link to comment Share on other sites More sharing options...
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