By Jenniffer B. Austria | Posted on Dec. 10, 2012 at 12:02am
[ manilastandardtoday.com ]
Robinsons Land Corp., the property unit of the Gokongwei
Group, is still in talks with Japanese billionaire Kazuo Okada over a casino
development project in Pasay City.
Robinsons Land president Frederick Go said negotiations were
on despite bribery allegations against Okada that could possibly lead to a
revocation of the casino license granted by state-run Philippine Amusement and
Gaming Corp.
Go declined to provide additional details on the
negotiations. He also did not comment when asked about the nature of the talks
and if the Gokongwei Group would be interested in taking over Okada’s license
if the government decided to cancel it.
Share prices of both Robinsons Land and JG Summit Holdings
Inc. recently surged on speculations the
Gokongwei group would bid for the casino license held by Okada if the Japanese
billionaire’s permit was revoked.
Lawmakers are conducting a investigation against Okada on
allegations his group bribed Pagcor officials to obtain a casino license in the
country.
Okada’s Tiger Resort Leisure and Entertainment Inc. is one
of the four groups that received a license to operate a casino in Pagcor’s
Entertainment City. Okada plans to build
a $2-billion world-class, resort-casino complex in Entertainment City.
The three others are Travellers International Holdings Inc.,
a joint venture between Alliance Global Group Inc. and Genting Hong Kong;
Bloomberry Resorts Corp. of businessman Enrique Razon Jr.; and Premium Leisure
and Amusement Inc. of Belle Corp.
Go, meanwhile, said the company would continue to expand its
budget hotel business in the country with the opening of three units next year.
Robinsons Land currently runs five hotels under the
Go-Hotels brands, all located near the company’s shopping malls.
Go cited a a big market for the hotel business in the Philippines
due to increased tourist arrivals. In addition, more local tourists are
traveling in several key cities in the country.
Go said reservation for the company’s residential projects
grew 80 percent in the first two months of its fiscal year ending September,
after the company reorganized the marketing department.
Robinsons Land fiscal year starts October and ends
September.
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