Gokongwei grp in talks with Okada for a piece of casino action
MANILA, Philippines - The Gokongwei group also wants a piece of the upcoming casino-entertainment project in Manila.
On Friday, July 13, Gokongwei-led property firm Robinsons Land Corp. confirmed a report it is discussing with the group of Kazuo Okada to operate the gaming and retail operations of the Japanese billionaire's US$2-billion casino-entertainment project.
"We confirm that Robinsons Land Corporation (RLC) is presently in discussions with the group of Mr. Kazuo Okada. As a property developer, it is usual for RLC to explore and evaluate investment opportunities," the listed firm said in a statement to the stock exchange.
"However, no definitive agreements have been entered into by RLC with the said group," it stressed,
Okada-led Universal Entertainment is one of the 4 groups awarded a license to build and operate a gaming and entertainment complex at the sprawling Pagcor Entertainment City in the reclaimed land in Manila Bay.
Other retail and property players in the Entertainment City are Belle Corp. and Alliance Global.
Belle is led by the Philippines richest family, Henry Sy, and recently sealed a deal with the James Packer group of Australia and Ho of Macau.
Alliance is led by another Philippine billionaire, Andrew Tan, and has a partnership with Genting group, a Malaysia-based casino operator in Asia. - Rappler.com
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