Tuesday, July 16, 2024

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Suspects in alleged $301 million casino junket financing scam indicted in the Philippines

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.

Imperial Pacific International manager and director resigns

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

The US and the Philippines join forces against cryptocurrency fraud

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.

Philippines is on track to be the Asia market leader in 2022

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. 

Suncity hotel unit granted incorporation in the Philippines

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

PH SEC denies PH Resorts request to discuss possible sale of assets in general meeting

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.

Manila Jockey Club parent company appoints Jose Dela Cruz as the new director

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.

PH Resorts increases capital stock proposal after green light in stockholders meeting

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.

PH Resorts Group aims to increase capital by $128 million

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.

Philippine Senator accuses “POGO Mayor” of ties to criminality

The case of “POGO Mayor” Alice Guo continues to grip the headlines in the Philippines, with accusations of criminality being voiced by a Senator.