Pagcor urges resolution in Okada cases

    Philippine Amusement and Gaming Corp. chairman and CEO Cristino Naguiat Jr. has warned in an interview with The Philippine Star that Universal Entertainment’s Manila Bay Resorts project will not be able to start operations until pending cases involving its owner – Japanese billionaire Kazuo Okada – are resolved. “They need to open by 2015.  That’s what they committed to us. But let me emphasize that they cannot open the casino unless they have addressed all issues such as the allegations of bribery and the land ownership requirement,” he said. Universal last week terminated an accord with Philippine group Century Properties that was designed to help the Japanese company comply with the country’s limits on foreign ownership.  “And if they don’t meet their commitment do we cancel it? And if they request for extension, do we approve it? These are some of the things  we need to discuss with our lawyers,” Naguiat told the newspaper.  Okada said the casino is on target, despite the legal problems.