Tuesday, March 21, 2023

Tag: Philippines

Duterte reverses stance on gambling, looks to raise funds

Rodrigo Duterte reverses stance on gambling
President Rodrigo Duterte appears to have changed his stance on gambling, suggesting it could help raise necessary funds for the government amid the coronavirus pandemic.

First phase of Manila Pavilion to be completed by end of 2021

Waterfront Philippines
Waterfront Philippines said that it expects phase one of the reconstruction of the Manila Pavilion to be completed by the end of 2021.

Phase one of Emerald Bay to open in Q3 2022

PH Resorts Group Holdings Emerald Bay phase one Q3 2022
PH Resorts Group Holdings has announced a new completion date for the first phase of its Emerald Bay casino resort in Cebu.

Widus Group confirms Clark resort expansion will require a $235.2m investment

Widus Group Hann Casino
The Widus Group, owner and developer of the Widus Hotel and Casino complex in the Clark Freeport Zone, has confirmed the first phase of the expansion of the resort has an estimated cost of PHP12bn ($235.2m).

Machines manufacturer FBM donates $393,000 to Philippine public hospitals

Slot manufacturer FBM Philippines donation
Slot machine manufacturer FBM has has donated PHP20m ($393,000) to four public health institutions in the Philippines via the national gaming regulator Pagcor.

Widus Group rebrands Clark properties

Widus Group rebrands Clark Properties
The Widus Group, owner and developer of the Widus Hotel and Casino and the Clark Marriott Hotel in the Clark Freeport and Special Economic Zone, has unveiled a new luxury lifestyle brand.

Casinos in Metro Manila closed until mid-April

Philippines Metro Manila Covid-19 shutdown
The Philippine authorities have placed Metro Manila under quarantine until April 14, while all gaming operations in the capital region have been suspended.

Pagcor privatisation back on the cards?

Pagcor privatisation
Finance secretary Carlos G. Dominguez III proposed the privatisation of Pagcor’s gaming operations could raise up to $5.7bn, however Alfredo Lim, the..

Clark executive order may help Dennis Uy’s IR plans

Philippines Clark City IR plans
President Duterte’s recent executive order may help support Dennis Uy’s plans to build an IR in Clark City, while a specialist in the country’s gaming law..

Pagcor sees Q119 income jump almost ten percent

Pagcor financial
Pagcor has reported its net income for the first three months of 2019 rose 9.5 percent from the same period last year to hit $30m, after a rise in gaming..

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

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

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

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

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

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

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

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 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

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 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...