Philippines

Riskwise Global Capital said the perceived political risk in the Philippines had deterred potential investors in a $1.4 billion project to build an integrated resort in Mactan.

Travellers International Hotel Group, the operator of Resorts World Manila in the Philippines, reported higher revenue and EBITDA for 2016, driven by income from hotels, theatres and retail operations.

A lobby group has petitioned the Philippines’ Supreme Court seeking to stop the Phlippine Amusement and Gaming Corp. from issuing online licenses, arguing the permits violate the regulator’s charter and run counter to an executive order to crackdown on internet gambling.

The Philippine Court of Appeals has ordered Melco Crown Entertainment to abide by an accord to not hire the employees of rival Bloomberry Resorts and Hotels for a minimum of six months after their termination.

Japan’s Universal Entertainment is disposing of treasury shares through an international offering and third-party allotment to raise funds for operations at its $2.4 billion Okada Manila resort in the Philippines.

With just a week left until the ASEAN Gaming Summit, AGB interviews First Cagayan about the trends they are witnessing in Philippines and the wider Southeast Asia region.

Philippines-listed Philweb Corp. is planning to acquire 15 PAGCOR e-Games Stations using a total of 7.5 million company shares as payment.

Philippine Senator Richard Gordon has called for the creation of a new regulator for online gaming in the country, local media reports.

Online gambling operators in the Philippines are facing a lack of clarity and regulatory confusion amid President Rodrigo Duterte’s clampdown on unlicensed sites

 

Online gambling operators in the Philippines are facing a lack of clarity and regulatory confusion amid President Rodrigo Duterte’s clampdown on unlicensed sites. Since coming to power in June last year, Duterte has caused no end of confusion for online gambling operators plying their trade in the country. Back in December, he announced plans to pull down the shutters on iGaming sites, claiming they had no positive impact on the economy.

 



This content is for members only. To continue reading

Join Now

The Philippines is expected to be one of the strongest growing gaming markets in Asia again in 2017, driven by another major opening in Manila’s Entertainment City, however growth is expected to slow over the longer term in the face of greater regional competition.

The Philippines is expected to be one of the strongest growing gaming markets in Asia again in 2017, driven by another major opening in Manila’s Entertainment City, however growth is expected to slow over the longer term in the face of greater regional competition.



This content is for members only. To continue reading

Join Now

Pages