A group of suspects accused of being involved in an elaborate scam have been charged with syndicated estafa by the Baguio City Prosecutor’s Office in the Philippines.

The manager and director of Imperial Pacific International (IPI), Dongting Zheng, has resigned from the Saipan gaming license holding company.

The Philippines’ Securities and Exchange Commission (SEC) has joined forces with the US SEC and the Asian Development Bank in order to combat crypto fraud.

Gross gambling revenue from licensed casinos in the Philippines jumped more than 29 percent in 1Q22, confirming predictions that the country will be one of the best-performing markets in Asia going forward. 

SunTrust Home Developers announced that Suncity WC Hotel was granted incorporation by the Philippines’ Securities and Exchange Commission (SEC) on January 19.

The Philippines Securities and Exchange Commission (SEC) has denied a request by PH Resorts to disclose to the public its plan for a possible sale of assets of subsidiaries in its upcoming shareholders meeting on July 26th.

Dennis Ryan Uy has resigned as Director of MJC Investments Corporation, the company responsible for the Manila Jockey Club, effective from January 2 of this year.

The board of directors of PH Resorts Group Holdings has approved a proposal to increase its capital by $128 million as it aims to finalize Emerald Bay.

To raise more capital and issue new shares, PH Resorts Group Holdings aims to increase its authorized capital stock by PHP7 billion ($128 million). This issue will be discussed in the upcoming annual stockholders meeting on Wednesday, July 26th.

The closing date for a deal to secure funding of up to $235.2 million for a casino hotel project at Westside City in Manila has been postponed by 12 months, now scheduled for April 30th, 2025.