Floating resto has no casino franchise

The floating business venture of Macau tycoon Stanley Ho is licensed to operate only as a restaurant, President Estrada clarified yesterday.

In his weekly radio program Itawag Mo Kay Erap on dzRH, the President said he is not aware of a license for Ho's venture to operate as a gaming facility from the Philippine Amusement and Gaming Corp. (Pagcor).

"Hindi binigyan ng lisensya `yan sapagka't pagkaalam ko pagkasabi niyan yan ay mananatiling floating restaurant. Restaurant lang yan para sa mga tourists (As far as I know, the vessel was allowed to operate only as a floating restaurant for tourists)," the President said.

Reports quoted Manila Archbishop Jaime Cardinal Sin as raising concerns over the supposed floating casino-restaurant, saying it may destroy families by promoting a culture of gambling.

But the President said he is not aware of any license given to Ho's business venture by Pagcor to operate as a casino.

"I don't know anything about the supposed franchise. It has not reached my office," the President said.

In October last year, Ho promised to bring in millions of dollars in long-term investments to the Philippines.

The President said at that time Ho assured him that the businessman would plow back to his Philippine investments whatever profits he would make in his various ventures here. He also agreed with the President's suggestion that he invest in socialized housing projects.

Ho also bared plans to bring to the Philippines one of his floating restaurants in Aberdeen, Hong Kong, before Christmas 1998.

Ho further discussed plans to invest in transportation and signified his intention to bring in jetfoils to ferry passengers between Manila and Subic Bay.