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Japan Spending Big on Filipino Casinos

Posted: Dec. 20th, 2012  |  By Michael Pearse
Universal Entertainment
Manila Bay Resorts

Despite troubling investigations from the Nevada gaming regulator, the Japanese based Universal Entertainment Group is due to sign a deal with the Filipino Robinsons Land Corp that will put two major Manila casino's on Japanese payrolls, a risky move meant to take advantage of Manila's booming gaming industry.

Robinsons Land Corp., the property unit of Filipino tycoon John Gokongwei Jr, and Universal Entertainment Group, owned by Japanese billionaire Kazuo Okada, have signed an agreement regarding a project at the Pagcor Entertainment City, Manila's big bet on the booming Asian gaming industry.

On Wednesday, December 12, Universal Entertainment disclosed to the Tokyo Stock Exchange that Robinsons Land will acquire the following:


-- A minority stake in Tiger Resorts and in Leisure and Entertainment Inc, the Okada-led units that the Philippine government granted casino franchise to

 --A majority stake in Eagle I Land Holdings Inc, the landowner of the project site


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