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New Integrated Resort In The Philippines On The Horizon

After a lengthy stand-off between gaming regulator PAGCOR and Waterfront Philippines Inc, the Philippines Court of Appeals (CA) has upheld a ruling by Manila’s Regional Trial Court to issue a provisional casino licence.  

Waterfront is now free to operate a casino-hotel in Entertainment City ending an application process which began in 2008 with Waterfront depositing $100 million in cash to fulfil PAGCOR’s requirements.

Despite this significant payment Waterfront filed a petition in 2015 accusing PAGCOR of ignoring their application which resulted in PAGCOR paying Php200,000 for moral and exemplary damages.

The ruling could see Entertainment City welcome a fifth operator after all following President Rodrigo Duterte’s August 2018 proclamation that Landing International Development Ltd would not be permitted to build a planned US$1.5 million IR despite having been granted a provisional casino license.

There are currently three IRs in Entertainment City – Solaire Resort &…

Read Full Story : Crypto Daily™

2019-05-13 12:00:00

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