Japanese gaming firm Universal Entertainment Corp’s troubled casino project in the Philippines is back on track after firming up its local partnership and receiving permission to delay the project’s opening date.
Universal subsidiary Tiger Resorts Leisure and Entertainment held a topping off ceremony on Thursday for one of Manila Bay Resorts‘ hotel towers in the capital’s Entertainment City gaming district. Universal boss Kazuo Okada (pictured) attended the ceremony along with Tiger Resorts president Kenji Sugiyama and the project’s new local partner, Antonio ‘Tonyboy’ Cojuangco, a cousin of Philippines President Benigno Aquino.
Cojuangco’s presence resolves one of the major issues that had been blocking the project from going forward. Philippines law limits international firms to no more than 40% ownership of the land on which their projects are constructed but Tiger Resorts has had numerous setbacks in attempting to solidify its relationship with a local partner.
Tiger Resorts has since sold the necessary portion of its property stake to Cojuangco’s All Season Hotel and Resort Corporation. On Thursday, Cojuangco told reporters he wanted to help Okada ‘in any way I can” and hoped to get involved in related projects, such as improving Manila’s airport infrastructure.