by Malou Mangahas and Tita C. Valderama
APPARENT haste marked the approval in February 2007 of the new charter of the Philippine Amusement and Gaming Corp. (Pagcor), the state agency that enjoys monopoly over gambling and gaming operations in the country.
Pagcor, today the government's third largest revenue agency, has unveiled its ambitious $20-billion "Tourism City" project, a gaming-entertainment complex that would rise on reclaimed land on Manila Bay.
Pagcor has accepted proposals from four groups of investors, including Bloombury Investments Ltd., a newly formed company with neither track record nor proven financial capability to roll out its $1.14-billion proposal.
Bloombury has, however, claimed a partnership with the former Publishing & Broadcasting Ltd. (PBL, now Crown Ltd.), that is chaired by Australia's third richest man, James Douglas Packer.
The partnership was revealed a fortnight ago by Pagcor president Rafael Francisco in an interview with The South China Morning Post. Promptly, Crown issued a statement, denying that Packer or the firm was in "advanced talks" with Bloombury on the Pagcor project.
In this two-part report, the Philippine Center for Investigative Journalism (PCIJ) uncovers the mysterious and muddled ownership interests behind Bloombury, and gaps in Pagcor's decision to enroll it as an investor in "Tourism City."
At least two allies of President Gloria Macapagal Arroyo have been linked to Bloombury — businessman Jose `Pepito' Ch. Alvarez, who is listed as president of the firm; and Enrique K. Razon Jr., whose legal counsel in the International Container Terminal Services Inc. (ICTSI).
Silverio `Benny' Tan, is listed as Bloombury corporate secretary.
The firm's "managing director" is Donato C. Almeda, who has just a peso investment in Bloombury, is the brother of Antonio Mariano Almeda, chief of staff of Pampanga Rep. Juan Miguel Arroyo.
Wednesday, July 2, 2008
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