Tag: Philippines

Is president Duterte set to soften his stance on casinos?

Rodrigo Duterte Philippines casino stance
While president Rodrigo Duterte is known for his opposition to the gambling industry, his comments at a recent campaign rally suggest that he may intent to moderate his position.

Pagcor reports record earnings increase despite potential portfolio sale

PAGCOR, financials
Pagcor has reported its net income for Q318 has increased 762.9 percent, year on year, to $699m. The Philippine gaming regulator, which also operates a series of state owned casinos, added income from gaming operators increased 18.7 per-cent to $937 for the period, 9.3 percent higher than was originally predicted. Expenditure included $178m in corporate social responsibility payments, and $38m earmarked...

Duterte states that executive order unnecessary for Boracay casino ban

ICR - Philippines regulatory asian
President Rodrigo Duterte has asserted that there is no need for him to issue an executive order to ban casinos on the central Philippine resort island of Boracay. The decision contradicts an earlier statement by Justice secretary Menardo Guevarra who had previously suggested that an executive order would be necessary. However, a later news report on 9 November indicated that Guevarra...

Chinese firm looks to create $100m IR in Cagayan Economic Zone

DEVELOPMENT, Philippines,
Chinese conglomerate Shanghai Jucheng Supply Management Group is set to invest a $100m to develop an integrated resort and casino in the Cagayan Special Economic Zone and Freeport. Cagayan Economic Zone Authority (CEZA) administrator and CEO Raul Lambino said the Chinese group planned to create a project modelled on South Korea’s Jeju Island which would capitalise on north-eastern Luzon’s tourism...

Pagcor u-turn on decision to privatise casinos

Pagcor, IRs, IGamiX, asia, philippines
Pagcor is not looking to sell casinos earlier targeted for privatisation just yet, according to the regulator-come-operator’s chairman and CEO Andrea Domingo. Domingo said the agency would continue its dual role as both casino operator and regulator “for the next few years, because are still profitable”. She highlighted that GGR from Pagcor owned and operated casinos goes directly to the...

What’s behind Duterte’s antipathy towards casinos

DUTERTE
In the wake of the recent decision to ban all casinos on Boracay and the controversy surrounding Landing International’s licence for its Manila IR, President Duterte’s flip-flopping on the casino industry can’t be doing wonders for investor confidence suggests Edward Lowton. It’s hard to get a handle on the Philippine president’s Rodrigo Duterte’s position when it comes to the casino...

Duterte orders review of Landing International’s land lease with state-owned corporation

DUTERTE
The future of Hong-Kong listed Landing International’s $1.5bn NayonLanding project could be in doubt in the face of a government inquiry into its land lease contract for the project. President Rodrigo Duterte has ordered the Department of Justice to review the land lease contract between the state-owned Nayong Pilipino Foundation (NPF) and Landing International Development. “The president has instructed a review...

Landing International receives provisional licence for $1.5bn NayonLanding project

ICR 191 ASIA LANDING
The Philippines’ gaming regulator has granted Hong Kong-listed Landing International Development a licence to build a $1.5bn integrated resort in Entertainment City in Metro Manila. Pagcor's president, Alfredo Lim, confirmed that it had issued a provisional license for Landing’s integrated resort development, dubbed NayonLanding. The provisional licence is valid for 15 years from the date issued, until 11 July 2033. However,...

Boracay Island once again proves battleground for Duterte

ICR WEBSITE BORACAY
Leisure and Resorts World Corp has stated that its proposed $500m casino resort on Boracay Island, a partnership with Galaxy Entertainment Corp, is “on track to open in 2021.” The claim was made during the Philippines-based developer’s annual stockholders meeting on 27 July, despite contrary assertions from the office of president Rodrigo Duterte. “We’ve been working on the initial plans for...

Philippines benefits from Chinese tourism growth, but…

Manilla, Philippines
Chinese tourism to the Philippines continues to grow but analysts suggest that, for the moment, the country should maintain a moratorium on issuing any further casino licences to avoid oversaturation. The Philippines is becoming an increasingly popular destination for Chinese gamblers, as tourism has been further boosted by a streamlined visa process. However analysts suggest that the country’s casino resort industry...

Lease agreement placed on hold for Landing International’s Manila IR

ICR 189 BUSINESS LANDING
Landing International Development Corp has had its IR lease agreement in Manila’s Entertainment City suspended, pending Pagcor and National Economic Development Authority approval. State-owned developer Nayong Pilipino Foundation has also been ordered by the Philippines’ Commission on Audit to cease the agreement for the multi-use resort, following accusations of a substantially underpriced contract. A report from the commission in June stated...

Ortiz Gaming outperforms in Philippines video bingo sector

ICR 188 G2EASIAREVIEW ORTIZ
Fabio Moretti, Director of Sales and Marketing at Ortiz Gaming explains that the future is looking bright for the company in the Philippines market. International Casino Review: From Ortiz Gaming's perspective what makes the Asia-Pacific market so attractive at the moment? Fabio Moretti: The gaming industry in the Asia Pacific continues to enjoy growth: the economic indicators are positive for most...

Bloomberry wins bid for Solaire land plots

ICR 188 ASIA SOLAIRE
Philippine-listed casino operator Bloomberry Resorts Corp has acquired two parcels of Philippine Amusement and Gaming Corporation (Pagcor) land on which its integrated resort Solaire Resort and Casino stands. In a filing to the Philippines Stock Exchange, Bloomberry confirmed that the land, situated in Manila’s Entertainment City, would be purchased by subsidiary Sureste Properties Inc (SPI) for a total of PHP37.3bn...

Lotus Gaming on ‘transcending the ordinary’ live casino experience

With the emerging demand of online casino services, Lotus Gaming has opened its doors to the Southeast Asian market. In 2016, the firm started to operate in the Philippines and introduced itself as a gaming platform that will cater to its shareholders and gaming counterparts. Today, it aims to “set the bar higher by developing a cutting-edge technology” which it...

Interblock brings two 25-Seat stadiums to Thunderbird Resorts & Casinos

La Union
The Stadiums were installed in Rizal and Poro Point La Union in the Philippines. Developer and supplier of luxury electronic table gaming products, Interblock, has announced the placement of two twenty-five seat Diamond Stadiums within Thunderbird Resorts & Casinos properties in Rizal and Poro Point in La Union, the Philippines. The Thunderbird Resorts & Casino in Binangonan, Rizal sits atop a...

Galaxy keen to build in Philippines despite Duterte’s anti-casino campaign

Galaxy
Galaxy Entertainment have maintained interest in developing a Philippines casino, despite a $500m Boracay island venture being dismissed by president Rodrigo Duterte. The proposal, announced in December, fell foul of the president’s desire to allocate Boracay exclusively to Filipino farmers following a six-month environmental rehabilitation, however, Galaxy has expressed a desire to remain in the country. “Galaxy has said they are...

Galaxy plans in question as Duterte hits out at casinos once again

Duterte
Philippine President Rodrigo Duterte has thrown doubt over the construction of a $500m beachfront casino on the country’s Boracay island resort. Concerns were raised as to the future of the Galaxy Entertainment Group venture, approved by the country’s regulator Pagcor in March, following comments made by Duterte on 9 April. “I don’t have plans there for casinos,” said Duterte, referencing Boracay....

Duterte halts issue of casino licences from Pagcor

Philippines president Rodrigo Duterte
Philippines president Rodrigo Duterte has ordered an indefinite pause on issuing casino licences across the country.   The request was made to Andrea Domingo, chairwoman of the country’s gambling regulator Pagcor, after the president expressed concerns of “proliferation”. “The president told me last 11 January to freeze the entry of new casinos,” said Domingo. “We’re just processing now the applications we received before...

Alfastreet Gaming expands footprint at Solaire Manila

alfastreet
Alfastreet has installed a special combination of electronic table games in Solaire, Manila's leading Casino.   The installation included a total of 72 Wiky terminals with multiple Baccarat tables, Roulette and Sic bo. In addition, Royal Derby was added to the floor, which only reconfirms the quality and the uniqueness of Alfastreet's product. “We've been working very long and very hard, to...

Investment Opportunities in Asian Gaming to debut in June

ICR - Philippines regulatory asian
The inaugural Investment Opportunities in Asian Gaming will be held at Solaire Resort & Casino, Manila, Philippines on 5-7 June, 2018.   It will be the first summit held in the region providing a comprehensive overview of the various investment and expansion opportunities in the booming Asian gaming market. The summit will also highlight the latest land-based regulatory updates. Casinos in the...

GLI becomes first test lab to issue IP Blocking Certificates for POGO license holders

BBi - GLI G2E
Gaming Laboratories International’s (GLI) Asia-Pacific (APAC) operations, led by GLI Australia, has become the first independent accredited gaming test laboratory to successfully complete and issue IP Blocking Certificates for Philippine Offshore Gaming Operator (POGO) Licensees, pursuant to PAGCOR’s existing POGO Rules and Regulations.   GLI’s testing and resultant certificates were undertaken in accordance with a Memorandum issued by PAGCOR to all...

Dennis Uy looks to develop second Cebu resort

Dennis Uy
Davao-based businessman Dennis Uy is looking to develop a second integrated resort in Cebu.   Uy will lease a four-hectare property near the Mactan Cebu International Airport from Megawide, which he plans to develop as a hotel and casino project. Last month, it was reported that Uy’s Udenna Corp was considering an Initial Public Offering (IPO) or backdoor listing to fund its...

Resorts World Manila to add Okura brand Hotel

okura
Travellers International Hotel Group has signed an agreement with Tokyo-based Hotel Okura Co. to operate the new hotel under the premium Japanese brand at Resorts World Manila (RWM). The 191-room hotel will be constructed inside the RWM casino complex and is expected to open in Q4 2018. The two companies also agreed to construct another 13-storey hotel with 380 rooms in...

Bloomberry to push ahead with Quezon resort despite opposition

Enrique Razon bloomberry
Philippines casino operators Bloomberry Resorts have stated intention to push on with plans to construct a new casino resort in Quezon City despite opposition arising from local residents.   Chairman of Philippines-based casino operators Bloomberry Resorts, Enrique Razon has said that the firm is undeterred by local opposition to a casino resort north of the metro Manila area and will push...

BMM Testlabs receives licence to certify online products in Philippines

Casino Review Philippines PAGCOR testlabs
BMM Testlabs has been officially licensed by PAGCOR to evaluate, test and certify online gaming systems and games for Philippine Offshore Gaming Operator (POGO) licensees.   BMM's executive vice-president and general manager Australia, Asia Pacific and South Africa, Kirk White said: "It's a privilege to be licensed again by PAGCOR. We are already licensed by PAGCOR to provide compliance testing and...

PAGCOR licensing powers set to be removed

ICR - Philippines Continent 8 PAGCOR
Philippines' congress have announced a bill that will limit the state-run Philippine Amusement and Gaming Corporation’s (PAGCOR) ability to grant licenses to operators looking to provide their services within the country.   Members of the House of Representatives have been looking to strip this power from PAGCOR for themselves ever since an arson attack on Resorts World Manila two months ago...

Continent 8 focuses partnerships on Philippines

ICR - Philippines Continent 8 PAGCOR
The international security services provider, Continent 8, has confirmed a number of strategic partnerships to deliver global network and cybersecurity services to the Philippines. Continent 8 Technologies’ latest key partnerships have been formed to enable the delivery of its globally respected services directly to businesses throughout the Philippines. According to Continent 8, the new partners approached them as they wished...

Philippines casino market remains resilient amidst uncertainty

ICR - Philippines regulatory asian
Compared to its counterparts in Macau and Singapore, the Philippines casino industry would seem to be the underdog in Asia, however the strength of local demand and proxy gaming could help the country’s casino market ride out recent troubles, suggests gaming consultant Ben Lee.   The head coach of the Philippines national basketball team, Chot Reyes, is known for telling his...

Proxy betting: a friend indeed for Asia

ICR - Proxy Betting Shaun McCamley
Shaun McCamley, Partner at Global Market Advisors LLC and Head of Asia Operations, discusses the growing significance of proxy betting revenues for Asia’s grey markets.   Proxy betting is booming in Asia’s grey markets, with live streaming of table games thought to be pulling in a chunk of Macau’s missing VIP billions. In early 2016, industry analysts estimated that proxy betting’s contribution...

Pilling explores why grey matters in Asia

ICR - iGaming Lorien Pilling Grey Matters
Gaming in Asia’s largely unregulated markets can be volatile, but for Isle of Man-based gaming consultant, Lorien Pilling, the rewards of operating in this vast and voracious region can be more than compensatory.   The Asian continent is still many shades of grey for international gaming providers, yet revenue from the region is fast becoming a vital component on many a...

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