Fil-Estate in Philippine Casino Talks

PHILIPPINES -- As reported by the Xinhua News: "Fil-Estate Corp confirmed that it has been in initial talks with foreign investors to put up a casino business in the country.

"In a stock exchange disclosure, the company noted that chairman Robert Sobrepena had told shareholders during the annual general meeting that the firm was proposing 'a business direction to capitalize on the booming casino gaming sector.'

"It said no definitive agreement has been reached with prospective foreign partners which it did not name, and added that feasibility studies are now being undertaken to determine the prospects of a gaming business…"

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