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 fees even though the casino site was under construction, according to a report from ABS-CBN.
“Despite the ongoing legal squabble and protests, PAGCOR considers the transfer to its new site as favorable to PAGCOR and the government,” wrote Pagcor in a statement on its website.
The gaming regulator said it would be looking at annual savings of P200 million in rental fees through its deal with Vanderwood.
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