Pagcor steps in on SunCity PH casino takeover

Junket operator SunCity Group has drawn the attention of the Philippine Amusement and Gaming Corporation (Pagcor) after it took over the casino at the Sofitel Philippine Plaza without permission, the Inquirer reports.

Success Vine Holdings, run by president and chairman Lin Ruei Ji, obtained a Pagcor license to conduct junket operations in a three year deal which started in August 2014, in which the SunCity Group reportedly took over operations.

It is understood that the Philippine gaming regulator caught wind of the takeover after a launch party a few weeks ago, where some lower-level Pagcor functionaries were invited.

As a result, Pagcor chair Andrea Domingo reportedly sent a strongly worded letter to Success Vine, pointing out that the license can not be transferred to another by sale without permission of the regulator, and that bringing Suncity into the picture could result in a termination of the license.

“Sun City is not licensed by Pagcor to conduct junket operations at Sofitel Philippine Plaza,” Domingo said. “In view thereof, we demand a written explanation why Success Vine allowed Sun City to conduct blessing and soft opening ceremonies last week. Such act may be considered a ground for suspension or termination by Pagcor pursuant to the agreement.”

Adding confusion to the matter, it is also known that the Sofitel facility was immediately shut down only a few days after the opening ceremonies.

More news from this jurisdiction

PhilippinesThursday, Aug 17, 2017

The opening of Okada Manila hasn’t cannibalized the gaming revenues of Manila’s integrated resorts, with GGR rising 20 percent, 28 percent and 13 percent quarter-on-quarter in 17Q2, according to a note from Morgan Stanley on Thursday.

PhilippinesWednesday, Aug 16, 2017

The Makati Regional Trial Court has issued a writ of preliminary injunction against the Philippine Charity Sweepstakes Office (PCSO) for allegedly violating Berjaya Philippines Inc’s exclusive right to supply and lease lottery equipment in the Luzon territory.

PhilippinesThursday, Aug 10, 2017

The Philippines has avoided further scorn from the Asia-Pacific Group on Money-Laundering following "significant compliance" in tightening their AML regulations.

PhilippinesWednesday, Aug 09, 2017

The Philippine Amusement and Gaming Corp on Wednesday proceeded with the opening of Casino Filipino (CF) Manila Bay, despite an ongoing dispute over its lease contract.

PhilippinesWednesday, Aug 09, 2017

Philippine technology firm DFNN Inc. saw net profit rise 456 percent year-on-year to P101.8 million over a surge in revenues from its gaming platform business.

PhilippinesSunday, Aug 06, 2017

The Philippine Amusement and Gaming Corp. has cut its forecasts for 2017 gross gambling revenue, in part because of the June attack on Resorts World Manila.

PhilippinesThursday, Aug 03, 2017

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.