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Article: Palace allies linked to Pagcor project

Article from:
The Manila Times
Article date:
July 1, 2008
Author:
Copyright

First of two parts

A COMPANY that has neither track record in the gaming business nor proven financial capability to back up a multibillion-peso enterprise is poised to become the newest investor in the ambitious "Tourism City" project of the Philippine Amusement and Gaming Corp. (Pagcor).

But what Bloombury Investments Ltd. lacks in these top two criteria for investors in the Pagcor project, it more than makes up for in terms of political connections, based on records of the state-run corporation itself, as well as information from those privy to the deals.

At least two close allies of President Gloria Macapagal Arroyo have been linked to Bloombury: Jose 'Pepito' Ch. Alvarez, who is ...

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