Tag Archives: Philippines
- Philippine SEC sues Calata Corp. over misleading $1.27B casino project
November 9, 2017
The Philippine Securities and Exchange Commission (SEC) has lodged a criminal complaint against Philippine casino investor Calata Corporation for its misleading statements regarding its P65-billion integrated gaming resort project in Mactan, Cebu. Charged before the Philippine Justice Department for violation of Section 24 (d) and Section 54.1 (c) of the...
- Philippine authorities nab 81 Chinese for illegal online gambling
November 8, 2017
A tip from the Chinese embassy has led Philippine immigration officers to a Makati-based online gambling operation where four Chinese fugitives and 77 other undocumented foreigners were illegally working. The Philippine Bureau of Immigration identified the four Chinese fugitives as Cheng Sheng Feng, 40; Tu Kangte, 30; Liu Yinan, 27;...
- IMF lauds Philippines AML casino rules
November 7, 2017
The International Monetary Fund has lauded the Philippines for enacting a law that will stem the flow of illicitly obtained cash in casinos. In a statement, the IMF commended the Philippines after President Rodrigo Duterte signed Republic Act (RA) No. 10927 in July, paving the way for the inclusion of...
- Philippine online gambling licensees won’t be capped at 50
November 3, 2017
The Philippines’ gaming regulator has added more names to its list of approved online gambling operators, ensuring that its previously suggested cap of 50 licensees no longer applies. The Philippine Amusement and Gaming Corporation (PAGCOR) updated its official list of Philippine Offshore Gambling Operator (POGO) licensees, which the regulator began...
- Macau, Philippines lift Melco Resorts Q3 earnings
Nasdaq-listed casino operator Melco Resorts and Entertainment pulled a third quarter surprise as its revenues for the period beat analysts’ expectations. The company announced in a disclosure to the US bourse that the firm’s net revenue for the 92-day period ending on September 30, 2017 was up 19 percent to...
- Makati office space void to grow as online gaming firms eye city exit
The number of vacant office spaces in the Makati Central Business district (CBD) may grow next year as online gambling firms leave the financial district in favor of more business-friendly Philippine cities. A Philippine Amusement and Gaming Corporation (PAGCOR) insider, who spoke under condition of anonymity, told CalvinAyre.com that online...
Okada Manila eyes Philippine backdoor listing
May 2, 2017