13 Dec '12, 9am

Japanese gambling tycoon Okada teams up with family of Philippine billionaire John Gokongwei for Manila casino project

Japanese gambling tycoon Okada teams up with family of Philippine billionaire John Gokongwei for Manila casino project

Kazuo Okada, chairman of Universal Entertainment Corporation, speaks during the ground-breaking ceremony of its casino-hotel projects in Manila, in this file picture taken January 26, 2012. Okada's Universal Entertainment funnelled at least $30 million to an ex-consultant for the Philippines gaming authority, who is now at the centre of a bribery investigation, according to sources and company records, Reuters reported on November 30, 2012. -- PHOTO: REUTERS MANILA (AFP) - Japanese gambling tycoon Kazuo Okada has teamed up with the family of Philippine billionaire John Gokongwei for a billion-dollar casino project in Manila, both sides said on Thursday. Robinsons Land Corp, a Gokongwei-controlled developer, said it would take a minority stake in an Okada firm that owns a gaming franchise in the Philippine government's giant Entertainment City complex along Manila Bay. Unde...

Full article: http://www.straitstimes.com/breaking-news/money/story/jap...

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