Wednesday, October 23, 2019

Tag: Philippines

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...

Jade Entertainment named as JCM Global’s support and service provider

Casino Review JCM Fuzion Jade Entertainment
JCM Global has appointed Jade Entertainment and Gaming Technologies Inc. as its customer service and product support provider in the Philippines.   Strengthening its commitment to customer service, JCM Global has appointed Jade Entertainment and Gaming Technologies Inc. an international distributor/authorized service center. Jade will provide local support and service for JCM products throughout the Philippines, meaning JCM customers can now contact...

Pagcor approves $500m casino resort project

Casino Review - Pagcor Cebu Philippines
The Philippines’ gaming regulator Pagcor has approved a $500m project for an integrated casino resort on the holiday-island of Cebu, the first mega-casino outside the capital of Manila, and is also looking to issue the next batch of POGO licences this April.   The Philippine Amusement and Gaming Corporation (Pagcor) is looking to the central island of Cebu as the nation’s...

Pachinko king talks up Philippines casino prospects

Casino Review - Pachinko king talks up Philippines casino prospects
The Filipino casino sector out shone expectations in 2016, and could be poised to do so again next year. But whether Duterte’s courting of the Chinese can overcome any fallout from anti-gaming politics at home and abroad remains to be seen.   After a disappointing year in 2015, the Philippines casino sector has come back with a vengeance in the past...

Manila MPs will debate including casinos in anti-money laundering law

Casino Review, Phillippines, Francis Escudero, laundering, AMLA, FATF, Ben Evardone,
In 2013, an international anti-money-laundering watchdog warned the Philippines that the country’s casinos were a gaping hole in its defences against people illegally moving money around its economy, but now the Government looks set to address the issue at the beginning of next year.   Senator Francis Escudero announced on 1 December that proposed amendments to the Philippines’ Anti-Money Laundering Act...

PAGCOR’s profits stable for nine month period as it looks to sell casinos

Casino Review Philippines PAGCOR testlabs
PAGCOR, the Philippines’ regulator/operator, has released its financial results for the nine months to the end of September showing only a slight increase in net income from the prior-year period.   Following a tumultuous nine months, state-run regulator/operator Philippine Amusement and Gaming Corp (PAGCOR) reported a net income of PHP3.20bn (E59.8m) in the period from January to September, up by 0.32...

Philippines regulator receives 76 applications for new offshore licences

Casino Review PAGCOR licences
The chief executive of Philippines regulator PAGCOR has announced that the agency hopes to grant 25 licences before the end of October after having received 76 applications since the tender began in mid-September.   The Philippine Amusement and Gaming Corp (PAGCOR) rolled out the new licences in an effort to encourage more casino and betting operators to set up online services...

Okada Manila casino resort faces further delays

Casino Review Philippine Okada Manila
Japan’s Universal Entertainment Corporation, the company behind the $2.3bn (E2.1bn) Okada Manila casino resort in the Philippines, said it is “carefully considering the optimal timing” for the opening of the property.   Initial plans for Okada Manila, which is located within the sprawling Pagcor Entertainment City entertainment complex in Parañaque, called for the casino property to be completed by March 31,...

Bloomberry wins Supreme Court favour in corporate tax battle

Casino Review Bloomberry Resorts
Philippine operator Bloomberry Resorts will no longer be subject to a 30 per cent corporate tax rate – after a  favourable ruling from the highest court in the land.   Bloomberry Resorts, the Philippine owner and operator of the Solaire Resort and Casino in Manila, has announced that the country’s Supreme Court has ruled in its favour regarding a corporate tax imposed...

Philippines’ regulator confirms casino sale plans

Casino Review PAGCOR
PAGCOR looks set to sell off its under-performing casinos amid suggestions that the regulator is planning to raise the licence fees for private sector operators to cover the public revenue loss.   Gaming regulator and operator, the Philippine Amusement and Gaming Corp (PAGCOR), has confirmed that it is planning to sell its casinos, as part of a plan to raise funds...

Pragmatic targets Asian growth areas with Opus deal

Casino Review Philippines,Pragmatic Play
Gaming solutions supplier Pragmatic Play has secured a land-mark deal with Philippines-based Opus that will see it providing a suite of new slots to the Asian market.   Pragmatic Play, a fast-growing provider of mobile and desktop digital casino games for the online gaming industry, has brokered a new partnership with fellow gaming supplier Opus Gaming. Under the terms of the agreement,...

Philippine eGaming parlour crackdown commences

Philippines Duerte
A new and oft-described as unorthodox president has ushered in a new, punitive era for the online gaming industry in the Philippines - as the state regulator revokes the licences of a huge number of eGaming parlours.   Gambling regulator the Philippine Amusement and Gaming Corporation (PAGCOR) has announced that it has revoked the operational licences of over 120 eGaming facilities...

Bloomberry eyes Quezon City for second Philippine site

Solaire Bloomberry Resorts
Enrique Razon’s Bloomberry Resorts has confirmed that work will soon commence on a new casino property in Quezon City, Philippines. Bloomberry Resorts chairman and chief executive officer Enrique Razon has revealed his intention to construct a second casino in the Philippines. Speaking to the Philippine Star, the casino magnate unveiled plans for a new $40.5m (E35.8m) property to be located in...