Gokongwei extends talks with Okada group - report

Posted at 02/01/2013 10:33 AM | Updated as of 02/01/2013 5:40 PM

Okada, Robinsons Land's casino complex to open 2014

MANILA, Philippines - Gokongwei-led Robinsons Land Corp. and the Okada group have both agreed to extend talks for the $1 billion gaming complex in PAGCOR's Entertainment City.

Manila Standard on Friday reported Bach Johann Sebastian, senior vice president at Robinsons Land, told the paper the parties "agreed to extend, yes."

However, the official said no new deadline for the negotiations were set.

Robinsons Land in December sealed an agreement with Okada group's Tiger Resort Leisure and Entertainment for the gaming complex. Both parties were supposed to close the deal last Jan. 31.

Earlier this month, Lance Y. Gokongwei, vice chairman at Robinsons Land, said negotiations for the $1-billion casino are still underway despite an FBI probe on the Okada group.

The Gokongwei-led property firm in December said the integrated resort and gaming complex is planned to open its doors to the public next year. The complex will have three hotels, a gaming hub, a shopping mall, a trade hall, luxury retail stores, and restaurants, the company has said.