Philippine President Rodrigo Duterte’s tougher stance against illegal gambling has resulted to the significant income losses of Leisure and Resorts World Corporation (LRWC).

Indeed, we are. According to LRWC’s report, its consolidated net income has skidded by 5.7 percent to PHP272.1 million (US$5.46 million) from PHP288.7 million (US$5.8 million) in the first three months of 2017.  And it doesn’t end there.

He is. LRWC, which controls majority stake in  First Cagayan Leisure and Resort Corp. also reported that First Cagayan posted a mere net income of PHP10.1 million (US$202,872) for 2017’s first quarter—a far cry from last year’s P256.0 million (US$5.14 million). That’s a 96.1% decrease versus last year’s income.

Sure. Last February, Duterte issued Executive Order No. 13 which clarified the extent of authority for the regulation and licensing of online gambling operations. This include operators being limited to offering gambling products within the economic zone’s borders; and that no business permits for BPOs and support services will be issued if the operators do not get  a Philippine Offshore Gaming Operator (POGO) license.

More operators will soon feel follow LWRC’s bleak fate if the Duterte government doesn’t soften its tough stance on regulating online gambling.

The Republic of Cyprus is betting on big financial rewards from its one and only integrated resort casino.

Swedish mobile gambling operator LeoVegas is bidding farewell to the CEO of its Malta-based subsidiary.

Genting’s $4b in-development resort on the Las Vegas Strip has been pushed back another year.

Wizards players Gilbert Arenas & Javaris Crittenton became involved in a “gun fight” after Arenas allegedly tried to get out of paying Crittenton a $25,000 pot in a road trip card game

Spread: A bet that is won or lost based on an amount of points assigned to a team.

Horse racing fans, get off your horses and run to Baltimore, Maryland for the 142nd Preakness on May 20!