Last week, we told you about the arrest of Suncity Group’s Alvin Chau in Macau.
Chau, accused of illegally funneling Chinese gamblers to online operations (allegedly – at least in part – to Philippine POGOs), has resigned from all posts within Suncity, but questions remain as to the overall fallout from the scandal.
While these developments aren’t expected to negatively affect the Philippines brick-and-mortar casino market in any way, there’s always the possibility that unforeseen consequences could emerge.
The biggest worry in the islands, of course, is that Chau’s arrest could disrupt construction of the Westside City Resorts World venue, Suncity’s billion-dollar IR development in Manila.
However, when asked as much by the Philippine Stock Exchange, Suntrust Home Developers, Inc. (the majority stakeholder in the Westside City project) stated the following:
“[Suntrust] does not expect that the issue surrounding Mr. Chau … will have any direct material adverse impact on the financial position, business or operations.
Suntrust currently does not have commercial operations, and the construction of its 5-star hotel and casino complex is progressing as scheduled.
At the time of this announcement, the above development is not expected to have a material impact on the timeline of the construction.”
Effectively, Suntrust is claiming that – as a development company without any service-based “commercial operations” – the firm is not part of the scandal surrounding Chau and Suncity’s alleged unlawful practices in Macao.
As such, it foresees no issues in the continued construction of the current Manila casino resort.
And that’s a good thing, as the timeline for completion of the Westside City Resorts World venue in Entertainment City has the IR opening its doors to the public in 2024.
Per current plans, the site’s hotel will feature 450 rooms, a casino gambling floor with 400 table games as 1200 slots, several restaurants and entertainment venues, and all the typical amenities expected of a five-star destination gaming center.
Manny Pacquaio For President – More Than A Puncher’s Chance
In addition to being one of the 2022 Philippine election frontrunners, Sen. Manny Pacquiao is also – as you know – boxing’s GOAT. But he’s also a serious basketball enthusiast.
That’s why the long-awaited Pacquiao-Mayweather rematch won’t be taking place in the squared circle but will instead be held on the basketball court.
The charity event is slated for January in the Philippines, which will be right in the middle of campaign season for PacMan.
Whether the Philippine basketball exhibition will help Pacquiao’s chances to win President remain to be seen, as he’s got a long way to go to catch up to current favorite Bongbong Marcos.
The following odds are via BetOnline Sportsbook.
2022 Philippine Presidential Election Odds – Winner
- Bongbong Marcos -210 (-180)
- Manny Pacquiao +350 (+350)
- Isko Moreno +600 (+500)
- Leni Robredo +600 (+500)
- Sara Duterte-Carpio +4000 (+4000)
- Bong Go +6600 (+6600)
- Alan Peter Cayetano +10000 (+10000)
- Antonio Trillanes +10000 (+10000)
Will Manny Pacquiao bet the next President of the Philippines?
- No –600 (-600)
- Yes +350 (+350)