Authorities in India have frozen millions in funds in mule bank accounts and seized 1,200 credit cards as it goes after ‘illegal’ online betting platform Parimatch.
According to reports, the Cyprus-based operation operated surrogate advertisement channels as part of an ‘aggressive’ marketing campaign which included sponsorship of sports tournaments and partnerships with celebrities.
Authorities believe the company lured in investors and routed their funds through mule accounts, later withdrawing them in Tamil Nadu and using these to recharge virtual wallets in a UK-based company.
Authorities conducted searches at 17 locations, including Mumbai, Delhi, Jaipur and Hyderabad, seizing cash, documents and digital devices.
Authorities say that payment companies would cloak themselves as technology service providers, offering their application programming interface to Parimatch to help in collecting user funds. The funds were layered and transferred out, disguised as e-commerce refunds, chargebacks, vendor payments and in other forms in order to conceal the purpose of the funds.
Parimatch runs advertising sites such as ParimatchSports and Parimatch News.
China’s top diplomat has met with Cambodia’s Deputy Prime Minister in a bid to maintain political stability along the Cambodia/Thailand border.
According to a report from state news Xinhua, ‘China appreciates Cambodia’s campaign to crack down on online gambling and telecom fraud, and hopes that Cambodia will continue to take strong measures and work with regional countries to combat cross-border criminal activities’.
That’s according to Minister of Foreign Affairs Wang Yi in his meeting with Cambodian Foreign Minister Prak Sokhonn when meeting in Yunnan, China.
Sokhonn reassured that Cambodia is committed to peace efforts and hopes to promote regional prosperity, while Wang noted that both Cambodia and Thailand are good neighbors and ‘friends of China’.
Tempers have flared along the Cambodia-Thailand border recently, including border closures which have strongly affected gaming operators based in Poipet and beyond. While numerous ceasefire agreements have been inked, conflict is ongoing, threatening livelihoods and political stability in the region.
Travellers International Hotel Group Inc, operator of the Newport World Resorts casino and leisure complex in Manila, recorded a significant 21 percent quarter-on-quarter improvement in EBITDA to PHP2.5 billion ($44.6 million) in the second quarter of 2025.
The strong performance was driven by steady growth in mass business and effective cost management initiatives.
The Alliance Global Group Inc (AGI) subsidiary reported gross revenues of PHP9.2 billion ($164.3 million) for the quarter, with gross gaming revenues reaching PHP7.5 billion ($134 million) on the back of sustained growth in mass market gaming operations. Non-gaming revenues contributed PHP1.7 billion ($30.4 million) to the total, supported by stable hotel occupancy of 90 percent as the Newport World Resorts complex continued to attract healthy foot traffic.
‘Travellers significantly reduced its overall costs and expenses, beefing up its attributable income which grew by more than double QoQ to PHP217 million,’ the company stated in its press release.
The cost optimization efforts proved particularly effective during the period, with the company’s attributable income more than doubling quarter-on-quarter to PHP217 million ($3.87 million). This substantial improvement reflected management’s focus on operational efficiency across all business segments.
‘Travellers intends to continue with its cost management efforts to allow the company to further enhance its operating efficiency moving forward,’ according to the press release.
For the first half of 2025, Travellers demonstrated consistent performance with EBITDA growing 11 percent year-on-year to PHP4.5 billion ($80.4 million). Attributable income for the six-month period stood at PHP315 million ($5.6 million) on gross revenues of PHP18.9 billion ($337.5 million).
The robust performance comes amid a broader recovery in the Philippine tourism and leisure sector, with domestic spending showing resilience despite global economic uncertainties. Newport World Resorts, located in the Philippine capital Manila, has positioned itself as a key destination for both gaming and non-gaming entertainment, benefiting from increased demand for staycations and meetings, incentives, conferences, and exhibitions events.
Andrew Tan, CEO, Alliance Global Group
Travellers International is part of the Andrew Tan-led Alliance Global Group conglomerate, which has diversified interests spanning real estate development through Megaworld Corporation, spirits manufacturing through Emperador Inc, and quick service restaurants through its stake in Golden Arches Development Corporation, known as McDonald’s Philippines.
The company’s strong second-quarter results contribute to Alliance Global Group’s overall positive performance in 2025, with the parent company reporting normalized attributable net profit growth of 23 percent year-on-year in the first half of the year.
The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, has ordered all electronic wallets to disconnect from online gambling sites within 48 hours, a move that has drawn sharp criticism from senators who demand immediate action rather than a grace period.
BSP Deputy Governor Mamerto Tangonan
BSP Deputy Governor Mamerto Tangonan announced the directive during a Senate committee hearing on games and amusement on Thursday, according to Inquirer.Net. The order specifically targets in-app features and links that allow users to access electronic gambling sites directly through wallet platforms.
The central bank’s ultimatum comes amid growing concerns over illegal online gambling operations in the Philippines, with data presented during the hearing revealing 11,985 illegal online gambling sites operating in the country. Of these, 6,363 are online casino games, 235 are offshore sites, and 4,815 are online sabong or cockfighting platforms.
Senate opposition to 48-hour timeline
Several senators expressed frustration with the BSP’s two-day implementation period, questioning why immediate disconnection was not possible.
Senator Alan Peter Cayetano challenged the timeline during the hearing, questioning why the disconnection required 48 hours when it could be implemented instantly. He criticized the extended timeframe as potentially allowing two additional days of gambling activity.
Cybercrime Investigation and Coordinating Center Undersecretary Renato Paraiso confirmed that the technical disconnection could be implemented immediately, contradicting the BSP’s justification for the extended timeframe.
Committee chair Senator Erwin Tulfo delivered a stern warning to Tangonan, demanding that all gambling links be removed from e-wallet platforms by Sunday morning or face contempt charges. Tulfo emphasized the severity of the situation, describing it as a crisis that required immediate action.
Tangonan agreed to face contempt charges if e-wallet links to gambling sites were not removed by the end of Saturday.
Central bank defends implementation period
Despite the criticism, Tangonan defended the 48-hour window, explaining that the BSP wanted to provide adequate time for e-wallet operators to prepare their systems and inform users about the changes.
However, Senate Majority Leader Joel Villanueva rejected this justification, expressing his objection to the central bank’s claim that 48 hours were needed when technical officials confirmed immediate implementation was possible.
Villanueva emphasized the urgency of the situation, highlighting the need to protect the public and referencing the tragic deaths of individuals who have committed suicide after losing money to online gambling.
Industry group advocates for regulated approach
While the BSP moves forward with disconnection orders, the PlaySafe Alliance PH, representing 20 government-licensed online gaming operators, has proposed an alternative approach. The group argues that mobile wallets should be retained as enforcement tools rather than completely disconnected from gambling-related transactions.
Mike Defensor, spokesman for the alliance, emphasized that regulated electronic money issuers provide crucial Know Your Client (KYC) data and transaction trails that enable authorities to trace money flows and build cases against illegal operators.
The group warned that complete disconnection could drive operators and bettors toward cash couriers or alternative digital payment channels that are more difficult for regulators to monitor.
Broader regulatory context
The controversy occurs as the Philippine online gambling sector faces increased scrutiny from lawmakers and regulators. Several legislators have called for either complete bans or stricter regulation of online gambling, citing its negative impact on Filipino citizens who have developed gambling addictions.
The BSP has also proposed a circular seeking to regulate online gambling payment services, which includes stronger identity verification requirements, daily transaction limits, and mandatory monitoring for gambling-related activity.
The PlaySafe Alliance has expressed support for these proposed regulations while advocating for clear protocols governing when and how account freezes are applied, including oversight mechanisms and data privacy safeguards.
DigiPlus Interactive Corp., operator of the digital entertainment platforms BingoPlus, ArenaPlus, and GameZone, reported a net income of PHP8.4 billion ($147 million) for the first six months of 2025, marking a 61 percent increase from the same period in 2024.
The strong financial performance comes as the Philippine online gambling industry faces heightened regulatory scrutiny and legislative review.
According to its latest filing with the Philippine Stock Exchange, total revenues rose 47 percent to PHP47.78 billion ($836 million) from PHP32.56 billion ($570 million) a year earlier. Growth was driven by increased business activity and the rollout of new games and licenses approved by PAGCOR. The company’s EBITDA for the first half reached PHP9.09 billion ($159 million), up 65 percent from PHP5.51 billion ($96 million) in the prior-year period.
For the second quarter alone, DigiPlus posted net income of PHP4.20 billion ($74 million), a 30 percent year-on-year increase, while revenues climbed 31 percent to PHP24.71 billion ($432 million). EBITDA rose 32 percent to PHP4.50 billion ($79 million), supported by new game offerings across its platforms.
The company’s contribution to government coffers remained significant, with DigiPlus remitting PHP18.4 billion ($322 million) in taxes and regulatory fees during the first half of 2025.
It is also worth noting that DigiPlus was one of the best-performing stocks on the Philippine Stock Exchange (PSE) in 2023 and 2024. In 2023 alone, its stock price rose by 232 percent. However, amid ongoing regulatory changes and discussions about implementing stricter controls over the industry, the company’s share price has dropped sharply in recent months.
Responsible gaming initiatives
Amid these regulatory shifts, DigiPlus has taken a leadership role in promoting responsible gaming practices. On August 7th, 2025, the company joined the Interim Council of the PlaySafe Alliance of the Philippines, a coalition of 19 founding organizations committed to combating illegal gambling.
“This alliance is not about competition—it’s about collaboration,” said DigiPlus Chairman Eusebio Tanco. “By working as one, we can ensure that online gambling in the Philippines becomes more secure, transparent, and beneficial to both players and the nation.”
The alliance underscores DigiPlus’ commitment to fostering a safer and more sustainable online gambling environment for Filipino players, while reinforcing its position as a key player in the digital entertainment sector.
Universal Entertainment Corporation (UEC) has successfully completed the transfer of shares in the Philippine-listed company Asiabest Group International (ABG).
The transfer from the Japan-based group from its subsidiary Tiger Resort Asia Limited (TRA), to PREMIUMLANDS CORP. (PLC) has been completed as of August 8th, 2025.
This transfer marks a significant shift in the Okada Manila operator’s business strategy, following a rescheduling of the execution date initially set for the end of May 2025.
ABG, which was originally acquired in 2018 to support the listing of Tiger Resort, Leisure and Entertainment, Inc. (TRLEI) on the Philippine Stock Exchange, has been deemed no longer necessary for this purpose due to the steady financial performance of Okada Manila, operated by TRLEI. As a result, TRA has opted to alter its approach.
Located in Makati City, Philippines, ABG primarily engages in real estate investment with a capital of PHP300 million ($5.3 million), and TRA holds 66.6 percent of its shares. The share transfer involves 200 million shares, representing 100 percent of ABG, with a transaction value of PHP510.4 million ($9.1 million).
PREMIUMLANDS CORP., also based in Makati City, focuses on real estate development and has a capital of PHP2 billion ($35.8 million).
The delay in finalizing this transfer was due to the ongoing process of lifting the suspension of trading on the Philippine Stock Exchange, which was necessary for completion. UEC has stated that this transfer will not materially affect its consolidated financial results for the fiscal year ending December 31st, 2025.
The Mohegan Tribal Gaming Authority stated that although it currently does not have ownership of the Mohegan INSPIRE Entertainment Resort in South Korea, there are certain ‘contingent exposures’ that will persist until refinancing milestones, management transitions, and other obligations are fully resolved.
Bain Capital, an American private investment firm based in Boston, exercised its acquisition rights for INSPIRE’s parent firm MGE Korea Limited in February.
In its recent third-quarter financial report, Mohegan said lenders led by Bain Capital seized control of its former South Korean resort vehicle on February 13th, triggering the deconsolidation of the business and a shift to discontinued operations across prior periods.
The move generated a $77.6 million gain on disposal and recognition of $137. million in estimated guarantee liabilities tied to the project. The company no longer holds equity in INSPIRE or its parent entities and will not benefit from the resort’s performance.
The seizure followed acceleration of a $275 million mezzanine term loan to MGE Korea Limited arranged in 2021.
Despite the exit, Mohegan outlined several continuing links and contingent obligations, noting discussions with Bain Capital are ongoing to fully transition duties under the 2021 management agreement, and certain Mohegan subsidiaries may still provide services to INSPIRE until the handover is complete.
Under a Credit Enhancement Support Agreement, Mohegan agreed to provide up to $100 million of support for INSPIRE’s Korea Senior Credit Facility, which matures on November 29th, 2025 and will need amendment, extension, or refinancing if INSPIRE lacks liquidity to repay. The company says it cannot facilitate that process post-transition.
A separate backstop arrangement requires Mohegan to reimburse Hanwha beyond KRW3.75 billion ($2.7 million) per quarter for interest on a KRW291 billion ($210 million) facility at a fixed 7 percent.
The potential exposure is roughly KRW4 billion ($3 million) through maturity, and Mohegan must maintain a KRW5.65 billion ($4 million) letter of credit with Hanwha.
Mohegan has also provided an indemnity to mezzanine lenders for customary “bad boy” acts, though no claims have been asserted.
It committed up to KRW50 billion ($36.9 million) in additional equity if needed to maintain minimum cash, and maintains a KRW24 billion ($17.3 million) standby letter of credit to the Incheon International Airport Corp.
The company said the required base plan was filed in February 2025 and does not contemplate additional cash funding, adding that it believes INSPIRE is in compliance.
In addition, a 2023 letter agreement committed up to KRW30 billion ($22.2 million) of additional equity for certain pre-opening and construction costs. As of the transition, Mohegan said dedicated funds covered such costs, while disputes over contractor claims remained contested by INSPIRE prior to February 13th.
Good Morning. The Philippines’ ban on online gambling for officials, effective August 11th, is a crucial step toward promoting accountability and ethical standards in public service, according to legal expert Tonet Quiogue, while emphasizing the need for coordinated efforts to address problem gambling beyond just regulating licensed operators. As the financial result season continues, Galaxy has strengthened its position in Macau’s gaming market, achieving a 20.2 percent market share in 2Q25, while Philippine casino operator Bloomberry Resorts reported a 52 percent drop in first-half net income.
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
Industry Updates
Tom Horn Gaming unveils Book of Azure – Max Gold’s Next Epic.
Win Systems to showcase at an entertainment expo in Georgia, USA.
Win Systems, a leading provider of technology for the gaming and entertainment industry, will participate in the Southern Amusement & Entertainment Expo (SAEE), which will take place on August 19–21 in Georgia, USA.
This event, a benchmark for the distributed gaming market in the region, will serve as the ideal platform for Win Systems to showcase its comprehensive and cutting-edge ecosystem of solutions.
At SAEE Expo, the company will present WIGOS One, a flexible and scalable casino management system that can be seamlessly adapted to the specific requirements of the distributed gaming market in Georgia. WIGOS One enables operators to monitor and manage multiple venues and gaming terminals under a single, centralized platform, allowing real-time tracking of player activity, integration of loyalty and bonusing programs, and access to advanced analytics for strategic decision-making. The system supports the transition from anonymous play to a fully connected environment, enhancing operational control and opening new opportunities to boost player engagement and retention.
Additionally, Win Systems will present Win Up Wallet, a secure mobile solution that allows players to connect to gaming machines, access rewards, and manage their funds directly from their smartphones — eliminating the need for physical tickets or cash. In line with its digital-first approach, and in partnership with LoopPay, the company will also introduce a feature that enables players to redeem their winnings digitally through gift cards, without requiring TITO tickets or kiosks, while still offering the option to redeem traditional physical gift cards.
“We’re excited to bring our latest innovations to the SAEE Expo,” said Hunter Kampf, Country Manager USA & CANADA. “Georgia is a strategic market for distributed gaming, and WIGOS One precisely meets its unique requirements. Our connected solutions will enable operators to simplify management, reduce operational costs, and strengthen relationships with their players through real-time data and seamless digital tools.”
With a focus on integration, data-driven decision-making, and digital transformation, Win Systems continues to lead the way in offering robust and scalable solutions for today’s dynamic gaming landscape. The company’s presence at SAEE underscores its strong commitment to the U.S. distributed gaming market and its ongoing efforts to support local operators with the most advanced tools available.
Tom Horn Gaming, a leading iGaming software supplier, announces the release of Book of Azure, the second slot in its Max Gold series.
This Egyptian-themed online slot transports players to Ancient Egypt, combining the classic ‘Book of’ mechanic with new features designed to maximize player engagement, boost retention, and increase operator revenues.
Played on a 5-reel grid with 9 winlines, the game offers medium volatility, an RTP of 94.99%, and a maximum win potential of 500x the bet. Its blend of steady payout potential and multiple win opportunities encourages longer player sessions and repeat visits.
Classic ‘Book of’ Mechanic Meets Coin Collection
Book of Azure fuses the timeless charm of a ‘Book of’ formula with Tom Horn’s signature Shatter Mode and enhances it with a popular Coin Collection mechanic for richer gameplay. When Book symbols land in the base game, they contribute to a Coin Pot above the reels. The bonus round – 10 retriggerable free spins – can be activated by landing 3 Book symbols during Shatter Mode or randomly via the Coin Pot, adding unpredictability and fresh win potential.
Once triggered, one symbol is chosen at random to act as a special expanding symbol throughout the bonus game, expanding to cover reels when part of a winning combination. A progressive multiplier increases from x1 up to x4 during the free spins round.
Cascading Wins and Multipliers
The game’s Shatter Mode introduces fast-paced, cascading win sequences. Each win removes symbols from the reels, with new ones falling into place and a win multiplier increasing up to x4 with each consecutive cascade. The feature concludes when no new wins appear or the maximum multiplier is reached. For players eager to dive into the action, the Bonus Buy option allows instant access to free spins for 50x the total bet.
“With Book of Azure, we aimed to evolve the classic ‘book of’ gameplay by fusing it with mechanics players love – cascading wins and coin collection – while continuing Max Gold’s story,” said Ondrej Lapides, CEO at Tom Horn Gaming. “It’s an action-packed game with a familiar feel, but enough innovation to keep players coming back for more.”
Book of Azure is available to Tom Horn Gaming partners as of 14 August 2025.
