Robinsons Land readies P30-B office project in C5

Exec mum on casino talks with Okada group

By Miguel R. Camus
Philippine Daily Inquirer

Gokongwei-led Robinsons Land Corp. (RLC) is finalizing plans for a new multibillion-peso office complex near the Ortigas business district but its top official was mum on efforts to break into the gaming sector through a partnership with controversial Japanese billionaire Kazuo Okada.

RLC president Frederick Go declined to comment on the status of the developer’s talks with Okada-led Tiger Resorts Leisure and Entertainment on a $2-billion casino complex at the Entertainment City Manila.

The two groups earlier signed an “initial agreement” designating Okada’s group as operating partner with the Gokongweis as minority stakeholder and landowner, a statement issued on Dec. 12 showed. The parties at that time stressed that the talks, already extended from the Jan. 31 “deadline”, were not yet final.

“We’re just reviewing all our actions,” Go told reporters at the sidelines of the builder’s annual stockholders’ meeting late Thursday. Universal Entertainment, the parent firm of Tiger Resorts, did not immediately respond to an Inquirer request seeking its comment. Okada’s group is being investigated by US authorities for alleged antibribery violations.

A deal with Okada would give RLC a stake in the 120-hectare Entertainment City, which seeks to one day compete with regional gaming hubs like Macau and Singapore. The project has already drawn investments from some of the country’s biggest tycoons, among them SM Group founder Henry Sy, Megaworld’s Andrew Tan and ports tycoon Enrique Razon Jr.

Gokongwei said RLC continued to expand its core businesses, which span the full-range from residential development, shopping centers, office buildings and hotels.

Robinsons Land readies P30-B office project in C5