The Philippine Amusement and Gaming Corporation (PAGCOR), is currently in a transitioning period as it ceases to be involved in owning or operating any casinos and becomes a regulatory only government entity. Philippine President Rodrigo Duterte, issued a new memorandum to PAGCOR licensed establishments stating that any gambling facility caught allowing minors in to their … Read more
President Rodrigo Duterte signed the Republic Act (RA) No. 10927 in July to further combat money laundry in the country’s gaming industry, which became enforced on November 4th. This act includes all gambling operators – online, shipboard, land based, and junket. The Anti-Money Laundering Council (AMLC), Cagayan Economic Zone Authority (CEZA), Aurora Pacific Economic Zone … Read more
The Filipino casino market is on track to be monopolized with Enrique Razon, the billionaire behind Bloomberry Resorts Corporation, announcing that his firm wants to purchase some of the 46 locally owned casinos. The current Philippine gambling market is regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). Such a move would take approval from … Read more
Earlier this year, the Resorts World Manila Casino was the victim of an alleged terrorist attack that resulted in the deaths of 38 people. The casino shut down for 27 days in June following the attack, leading to a hefty loss in revenue percentage (to the tune of 21.68%) during the second quarter of the … Read more
The Philippines have relieved some of the pressure facing them after formally including casinos under the coverage of a new anti-money laundering law. The nation avoids sanctions and further probing from the Asia Pacific Group on Money Laundering by making the inclusion. President Rodrigo Duterte signed the bill into law. The bill, known as Republic … Read more
Last week the Philippines were devastated by what was originally perceived as a terrorist attack at the Resorts World Manila hotel and casino. The attack left 37 dead with dozens of others injured. In the aftermath of the attack, there were many unanswered questions as to why and how this even occurred. ISIS, the infamous … Read more
The Resorts World Manila, a popular casino/hotel destination in the capital city of the Philippines was recently attacked just a few days ago. A lone gunman entered the casino and began shooting gambling machines and setting fires. 37 people perished as a result. The suspect set fires throughout the casino that led to huge smoke … Read more
There is a war on illegal gambling taking place in the Philippines and the crackdown has already begun. In early February, President Duterte signed Executive Order No. 13 which reads “Strengthening the fight against illegal gambling and clarifying the jurisdiction and authority of concerned agencies in the regulation and licensing of gambling and online gaming facilities.” In … Read more
Having become quite the hot spot for gambling in the Asian region, the Philippines are getting a new gaming jurisdiction. It will be launched in the Aurora province, located within the Aurora Pacific Economic Zone and Freeport Authority (APECO), which is in Luzon, the nation’s main island. The Aurora province is underdeveloped economically, and this new gaming … Read more
Gambling has been used as a tool for money laundering for a very long time. The basic idea is that you have money that you don’t want people to know the source of, particularly government organizations. To facilitate that, you gamble with the money over several times, sometimes losing it to a confederate or at … Read more