Philippines

The Anti Money Laundering Council (AMLC) is set to release a new regulatory framework which covers casinos by the third week of October.

Overinvestment in Philippines’ gaming industry is likely to end up in oversupply, says Bloomberry owner Enrique Razon Jr.

At a press launch held at the Discovery Primea on Monday, network service company LR Data announced their partnership with Continent 8, the world’s leading anti-DDOS organization.

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.

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