Waterfront gained 16.5 percent to 49.50 centavos on total turnover of P12.622 million on Friday, October 30.
Waterfront disclosed that its five-year legal battle to get a casino license from Philippine Amusement and Gaming corp. was over.
“In October 2020, Waterfront received notice from its legal counsels that the Supreme Court decision has become final and executory by being recorded in the Book of Entries and Judgements,” said Waterfront.
“The issuance of a casino license will have a favorable effect on WPI’s business or operations once the pandemic is over,” it added.
Gatchalian filed a case against Pagcor for ignoring its application to build the Grand Waterfront Hotel and Casino in Entertainment City despite paying the application fee and submitting all requirements.
Gatchalian won his case in the Manila Regional Trial Court and the Court of Appeals.
In February 2020, the Supreme Court denied the petition of Pagcor for certiorari for failure to sufficiently show any reversible error in the judgements of both the Manila RTC and the Court of Appeals.