Philippines

Philippine casino investor Belle Corp. posted a 93 percent increase in consolidated net profit, amounting to P1.77 billion in the first half of the year, driven by revenue growth at City of Dreams Manila.

Leisure and Resorts World Corp. (LRWC) has seen a near 50 percent drop in online gaming companies licensed under FCLRC since the introduction of Pagcor’s new online regulations.

Technology provider DFNN Inc. says it is planning to list its gaming service business on the Philippine Stock Exchange in 2018.

Gaming regulator Philippine Amusement and Gaming Corp (Pagcor) reported net income of P3.06 billion (US$60.4 million) for the six months ended June 30, 2017, up from P2.5 billion from a year ago.

PCSO chair Jose Jorge Corpuz says he is willing to meet with PNP chief Ronald “Bato” dela Rosa to “clear gray areas” in their fight against illegal gambling.

Another loan sharking syndicate operating in Metro Manila’s casinos has been identified by Philippine authorities.

Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year.

 

 

Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year. But it hasn’t all been plain sailing; the fatal attack on Resorts World Manila lead to a suspension of its gambling operations in June, while South Korea continues to underperform after a diplomatic spat with China, which banned tour groups after Seoul agreed to deploy a U.S. missile shield.



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The Philippines Charity and Sweepstakes Office is planning to cut funding to the Philippine National Police (PNP), because of what they describe as PNP’s ‘anemic’ performance in their campaign against illegal gambling.

A Singaporean woman has been rescued by Filipino authorities after being kidnapped by three men and a woman at Solaire Resort and Casino on Tuesday.

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.

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