Duterte meets Japanese billionaire Okada


Posted at Jul 19 2016 08:50 PM

Japanese gaming magnate Kazuo Okada made a courtesy call on President Rodrigo Duterte on Tuesday.

The chairman of Tiger Resort Leisure and Entertainment Inc. was accompanied by two other company officials.

Duterte, meanwhile, was with Executive Secretary Salvador Medialdea, Labor Secretary Silvestre Bello III, and businessman Antonio "Tony Boy" Cojuangco, a local partner of Okada.

The casino project of Okada and Cojuangco will be renamed Okada Manila, an executive of Tiger Resorts Leisure and Entertainment Inc. said Tuesday.

Okada Manila, formerly Manila Bay Resorts Integrated Resorts and Casino, was renamed to reflect the Okada brand and the marriage of Japanese and Philippine cultures, Tiger Resorts chief executive officer Takahiro Usui said.

Okada Manila is expected to break even in about two years, he added.

Cojuangco, a cousin of former President Benigno Aquino, said Okada Manila is just the start of his business partnership with the Okada group, as there are plans to set up projects in other islands in the Philippines.

Cojuangco said the Okada group is currently looking at building a resort in Palawan and Davao City.

He also said the group is interested in bidding for international airports, which is the first contact point for tourists.

Okada Manila is the third casino to open in Entertainment City in Parañaque after Bloomberry's Solaire and Melco Crown's City of Dreams.

Okada found a new partner in Cojuangco last year after the partnership with Century Properties turned sour. - with reports from Michelle Ong and Willard Cheng, ABS-CBN News