Philippines

The Department of Justice (DOJ) has announced it will be cracking down on illegal online casinos, as well as chase tax liabilities of small town lottery (STL) operations.

The Philippine Stock Exchange has finally approved the sale of the 653.1 million Philweb shares belonging to founder Roberto Ongpin to Gregorio Araneta III.

For 2017 the Macau market will continue to stabilize and grow, but the operators will have to work harder to get the players to come back. The future looks good with regards to the general mass player but the VIP’s will be careful in how, where and what they play.

I think the Philippines remains an intriguing story in 2017. President Duterte’s call to PAGCOR to privatize its casinos was a wise decision, although that decision was driven more by the President’s sense of morality rather than a purely business decision.

In 2017 I think we will continue to see the larger players in Macau flex their muscles internationally looking for ROIC no longer available in Macau.

Junket mogul Jack Lam is yet to show his face in the Philippines after President Rodrigo Duterte ordered his arrest last December.

Philippines-listed Philweb Corp. has raised P 140 million (US$2.8 million) through the sale of its stake in Germany-based Acentic GmbH, according to the company’s filing to the Philippine Stock Exchange.

Okada Manila officially commenced its casino operations on December 30, after securing a provisional casino license from Philippine Amusement and Gaming Corp, local media reports.

The service provider for e-games cafes in the Philippines will be selected in accordance with Republic Act (RA) No. 9184 or the Government Procurement Reform Act, said Pagcor chairman and CEO Andrea D. Domingo in a letter to Philweb dated December 12, 2016.

Universal Entertainment Corp. chairman Kazuo Okada says the Philippine gaming market could soon surpass Singapore as more Chinese tourists flow into the country.

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