Philippines

Philippines’ casinos will now be required to report cash transactions exceeding P5 million (US$98,300), after President Rodrigo Duterte signed the amended Anti-Money Laundering Act (AMLA) on Friday.

The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development.

Philippines gross gaming revenue is expected to grow 26 percent year-on-year in 17Q2, driven by proxy betting attracting foreign VIP revenues, along with a low sequential growth in mass, says Morgan Stanley.

Resorts World Manila, which was attacked by a lone gunman last month, is planning to build a new gaming zone and win back the trust of its customers.

Police authorities in Manila are preparing to file criminal charges against the management of Resorts World and its security agency for the deaths of 37 people during the attack on June 2.

After completing bomb threat and response exercises this week, Manila’s hotels and casinos are set to undergo active shooter exercises next week, Manila Bulletin reports.

Resorts World Manila on Thursday was given permission to resume its gaming operations after complying with security and safety requirements imposed by the Philippine Amusement and Gaming Corporation.

Philippine president Rodrigo Duterte is allegedly planning to fire the head of the Clark Development Corporation (CDC) for "corruption."

Melco Resorts and Entertainment (Philippines) Corp, operator of City of Dreams Manila, is doubling its authorized capital stock, according to a filing from the operator to the Philippine Stock Exchange.

The Department of Finance (DOF) in the Philippines says it plans to collect P6.9 billion in unpaid dividends from the Philippine Charity Sweepstakes Office (PCSO), Philstar reports.

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