Philippines

Increasing visitation, mass penetration, and a strong local economy will serve as drivers of growth for Manila’s casinos over the next few years, according to Morgan Stanley.

Alliance Global, owner and operator of Resorts World Manila, said it is seeing signs of recovery following the casino attack in June that left 38 people dead.

Nearly all of the 45 firms licensed under the Philippine Offshore Gaming Operators (POGO) scheme will soon be required to renew their licenses should they wish to continue offering online gambling games.

GLI Asia-Pacific has become the first independent test laboratory to be accredited by PAGCOR to test and certify online gaming systems operated by holders of POGO licenses.

Bloomberry Resorts chair and controlling shareholder Enrique Razon has sold a portion of his stake in Philippines gaming operator Bloomberry Resorts Corporation for P3.8 billion ($74.5 million).

The privatization of casinos operated by Philippine Amusement and Gaming Corp. (Pagcor) may start as early as next year.

Melco Resorts and Entertainment (Philippines) Corp. said its board has approved the redemption of up to P8 billion (US$157.2 million) out of the outstanding P15 billion in fixed-rate corporate notes.

Former Bureau of Immigration (BI) commissioners Al Argosino and Michael Robles have withdrawn their criminal complaint filed against gaming tycoon Jack Lam.

Philippines pop-star turned government worker Esther Margaux "Mocha" Uson is being investigated for performing in casinos despite a prohibition that restricts government employees from entering gaming venues.

Bitcoin has regularly made the headlines in recent months, its price surging towards the $5,000 mark - four to five times its value at the start of 2017 - predominantly driven by interest in Asia.

 

Bitcoin has regularly made the headlines in recent months, its price surging towards the $5,000 mark - four to five times its value at the start of 2017 - predominantly driven by interest in Asia. It has also emerged as a viable gaming currency, with online operators discovering that users, particularly in Asia’s grey markets, are keen to embrace a currency that is secure and easily deposited and withdrawn.



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