The Philippine Amusement and Gaming Corp. said it can’t shutter operations at the Casino Filipino Manila Bay due to an existing management contract and argues that the property is profitable if its social contributions are excluded from its results.
The Commission on Audit (COA) has urged the Philippine Amusement and Gaming Corp (PAGCOR) to consider closing Casino Filipino in Manila Bay, after five years of losses. It has been revealed that the casino has clocked net losses of P2.1 billion over five years. “Aggregate net losses of P2.113 billion incurred by CF (Casino Filipino) […]
The Philippine Amusement and Gaming Corp on Wednesday proceeded with the opening of Casino Filipino (CF) Manila Bay, despite an ongoing dispute over its lease contract, local media reports. House Speaker Pantaleon Alvarez had earlier questioned PAGCOR’s lease contract with Vanderwood Management Corp, saying the gaming regulator had paid the company P234 million in rental […]