The Philippine Amusement and Gaming Corporation (PAGCOR) announced on March 25 that it has committed an initial Php1.37 billion to fund the construction of 25 public school buildings nationwide.
The funding forms part of PAGCOR’s two-year plan to build 125 school buildings, or about 1,500 classrooms, to help address the country’s classroom backlog in partnership with the Department of Education (DepEd).
To formalize the initiative, PAGCOR signed a memorandum of agreement (MOA) with DepEd and representatives of the initial batch of 25 beneficiary local government units or LGUs.
“Our commitment to the President (Ferdinand Marcos Jr.) is that all classrooms will be completed not later than 2027,” he said.
To ensure transparency and proper implementation, the funds will be released to the LGUs in three tranches based on construction progress and compliance with project standards.
The first batch of recipients includes LGUs in La Union, Pangasinan, Pampanga, Tarlac, Bulacan, Zambales, Batangas and Cavite, as well as those in Mindoro, Marinduque, Romblon, Albay, Camarines Sur, Antique, Samar, Davao Oriental, South Cotabato, Lanao del Sur and Sulu.
Each local government unit will receive about Php55 million for the construction of a three-story school building with 12 classrooms that are equipped with chairs, tables, PWD-friendly facilities, electric fans, microphones, a 75-inch smart TV, and a one-year free internet subscription.
Mr. Tengco said the program aims to improve learning conditions particularly in areas where students continue to endure overcrowded classrooms, irregular schedules and makeshift learning spaces.
“We have learned that the country has an estimated 165,000 classroom shortage, which is a daunting challenge for any administration,” he said.
Online gaming operators to support CSR initiatives
Mr. Tengco also announced a new initiative requiring PAGCOR’s online gaming licensees to allocate a portion of their gross gaming revenues to socio-civic programs, including the repair and rehabilitation of public school buildings nationwide.
Education Secretary Sonny Angara welcomed the partnership and said that the school building project brings renewed hope to the education sector despite ongoing challenges.
“We thank PAGCOR for its continued support to the education sector,” he said. “These classrooms are not just physical structures; they are places where dreams can become reality for millions of young Filipinos.”
The award-winning global crypto-focused online entertainment platform BC.GAME has announced the appointment of Kar Kheng Giam as its new Chief Executive Officer.
Giam, who is widely known as “KK”, brings more than three decades of international leadership experience across gaming, technology and consumer businesses, having held senior roles spanning Asia-Pacific, the United States and Europe.
He joins BC.GAME after serving as Vice President International at Coyote Bioscience, where he led global expansion initiatives. He has previously co-founded mobile gaming companies including Topgame and Tinymobi, publishing a range of successful social and casino-style titles.
Earlier in his career, he held senior executive roles including CEO positions at multiple organisations and regional leadership roles at Nabisco across Asia.
In his new role, KK will oversee BC.GAME’s strategic direction, operational leadership and financial performance, with a focus on scaling the platform globally, strengthening regulatory compliance and driving continued innovation in crypto gaming.
KK said about his new role: “BC.GAME has built a strong global community by combining innovative technology with engaging entertainment experiences. I’m excited to take on this role at a time of significant opportunity for the business. With increasing demand for transparent, user-focused platforms and growing adoption of crypto in online gaming, we are well-positioned to scale globally. My focus will be on strengthening our presence in regulated markets, enhancing the platform experience, and continuing to build trust with our users.”
The appointment forms part of BC.GAME’s broader strategy to expand its footprint in licensed jurisdictions. BC.GAME holds licences in multiple jurisdictions, including Anjouan, Nigeria, Kenya, Mexico, and Tanzania, as part of its long-term strategy to expand across licensed markets globally.
NagaCorp is expected to build a substantial cash reserve of $726 million by 2028, equivalent to about 31 percent of its current market capitalization, as the Cambodia-focused casino operator benefits from improving operating momentum and disciplined capital spending, according to a research note by CLSA.
The brokerage said the Hong Kong-listed group is ‘poised to generate robust cashflow’ from 2026 onward, supported by a rebound in VIP rolling volumes and lower-than-expected capital expenditure. CLSA also maintained an ‘Outperform’ rating on the stock.
A key near-term catalyst highlighted by the group is Cambodia’s planned four-month visa exemption for Chinese visitors starting June 15th, which is expected to drive visitation and gaming revenue growth in the third quarter of 2026.
CLSA analyst Jeffrey Kiang wrote that the company’s long-term outlook remains intact despite geopolitical tensions, noting that ‘foreign direct investments into Cambodia […] remain intact,’ while sequential improvements in VIP volumes following the Cambodia–Thailand ceasefire signal a recovery in high-value segments.
Strong basis to build from
Financial projections indicate steady expansion over the forecast period. Revenue is expected to rise from $710 million in 2025 to $854 million by 2028, while net profit is projected to increase from $310 million to $408 million.
In terms of recent financial performance, NagaCorp reported a resilient set of results for 2025 despite geopolitical headwinds. The company recorded revenue of $710 million and net profit of $310 million, a sharp recovery from prior years, with net profit growth of over 180 percent year-on-year.
NagaCorp’s net profit margin reached a record 43.7 percent, supported by disciplined rebate spending and stronger gaming hold rates, particularly from side bets that helped underpin margins. Operating cashflow also strengthened significantly to $532 million, reflecting improved earnings quality and cost control.
The strengthening balance sheet is driven by consistent operating cashflow, with cash and equivalents forecast to grow from $372 million in 2025 to $726 million by 2028. Analyst also expects the company to maintain a stable dividend payout ratio of about 30 percent over the period, following the resumption of dividends in 2025.
NagaCorp operates NagaWorld in Phnom Penh, the largest integrated resort in Cambodia and the only casino complex permitted in the capital under a long-term license. Its monopoly position within a 200-kilometer radius of Phnom Penh, valid through 2045, continues to underpin its market dominance.
CLSA added that the company’s improving margins, disciplined cost control, and exposure to regional tourism flows position it to deliver sustained earnings and cashflow growth over the medium term.
Good morning. The road has to end somewhere. For infamous Taiwanese gambling fugitive Lin Bingwen, that somewhere was Sihanoukville. The shooting of the prominent figure brings the focus back to organized crime’s dominance in the black market economy, and the danger of illicit operations. Looking to the regulated market, Resorts World Sentosa says its RWS 2.0 revamp will “appeal to a broader spectrum of guests”, helping increase its competitiveness. And in the online world, Sportradar has launched its own iGaming brand Playradar, calling it a ‘hybrid’ blend of sports and online casino products.
Notorious Taiwanese fugitive Lin Bingwen has been shot and killed in Sihanoukville, highlighting the murky underworld of illegal gambling operations. The infamous figure was linked to underground banking, gambling and corruption; even spending time in Macau, where he was involved in the junket sector. Authorities are investigating the targeted killing but have yet to announce arrests.
Play’n GO has released Hope Unleashed Fortune Rises, a myth-soaked tale of temptation and consequence, where a forbidden lock clicks open and the room immediately feels different.
Some artefacts are meant to be admired from a distance. This one isn’t. Hope Unleashed Fortune Rises centres on an ancient box with an unhelpful aura: ornate, insistent, and quietly certain you will reach for it.
Pandora stands at the heart of the story with the confidence of someone who never needed permission, guiding players through a shifting mosaic of symbols that flicker like half-remembered warnings and half-told promises.
Rather than rely on spectacle alone, the game leans into a constant push and pull between restraint and curiosity. Sealed moments can crowd the reels, refusing to reveal their true nature until the last possible second. When the Magic Circle surfaces, the tone changes again – a pulse of inevitability that suggests the box has its own agenda. Through it all, stray Souls cling on, hinting that something escaped long ago and something else stayed behind for a reason.
Visually, Hope Unleashed Fortune Rises frames the myth in marble halls and midnight-blue shadow, then punctures it with a neon glow that makes the setting feel newly dangerous. Pandora’s presence is ever-watchful, while artefacts glint like contraband from a forbidden vault. The box itself remains the quiet centrepiece: a challenge, a dare, and a mirror held up to the player’s curiosity.
Magnus Wallentin, Games Ambassador at Play’n GO, said: “Pandora’s myth endures because it’s human – the need to know, the cost of knowing, and the stubborn spark that survives the fallout. Hope Unleashed Fortune Rises turns that tension into a story players can feel from the first moment.”
The Philippines National Bureau of Investigation (NBI) is investigating a complaint about an alleged illegal transfer of farmland in Bataan to a Philippine Offshore Gaming Operator (POGO).
According to the Philippine News Agency, 20 farmers have given statements and documents claiming that parcels of land were transferred to a private company engaged in POGO activities, with links to former presidential spokesperson Harry Roque.
The farmers claim the land ownership transfers took place without the required government clearance.
The NBI has indicated that the documents may have been falsified, “raising serious concerns over the legality and validity of the transactions”.
Authorities are building a case to identify possible culprits who “may be held criminally liable”.
Back in late November 2024, authorities raided a POGO facility in the freeport zone of Bataan. The operator of the Central One facility refuted claims of being an offshore operator and condemned the raid as unlawful.
POGOs have been officially banned by presidential decree, with subsequent legislation enforced, aimed at preventing the resurgence of the offshore sector.
Macau’s former satellite casino operator Macau Legend is expecting a FY25 loss of approximately HK$1.56 billion ($199.3 million), following the closure of its gaming operation last year.
In a profit warning released on Tuesday, the group informed that the expected loss is a significant increase from the HK$623 million ($79.6 million) recorded in 2024.
The primary reason for the loss increase is a HK$1.18 billion ($115.74 million) impairment due to the change in value of its Macau Fisherman’s Wharf complex, which it operates under subsidiaries.
The complex formerly housed the Legend Palace Casino, a satellite casino under the concession of SJM Resorts.
Due to the expiration of the contract on December 31st, and the changes in Macau’s laws requiring the closure or self-management of satellite operations by concession holders, SJM terminated its agreement early, with the casino shuttering at 11:59pm on November 12th.
The gaming tables and slot machines operated at the venue have since been relocated to SJM’s self-operated venues.
Uncertain future
Macau Fisherman’s Wharf
Following the closure, Macau Legend attempted a new rights issue, which saw just 49.5 percent of new shares subscribed to, raising HK$93 million ($11.93 million) in gross proceeds.
The money is to be used to pay down existing debt.
After the new issuance, former Tak Chun junket head Levo Chan – who became CEO of Macau Legend in 2020 after becoming the company’s largest shareholder, saw his holdings (via an investment company) fall from 33.08 percent to 22.06 percent.
Chan stepped down from the CEO role amidst Macau’s junket crackdown and is currently serving a 13-year prison sentence in Macau for illegal gambling-related crimes.
Macau Legend’s current CEO Li Chu Kwan, who participated in the rights issue, maintained his 25.83 percent shareholding via investment vehicle Elite Success (owned by Li, his wife, and son), as well as his personal 1.76 percent stake.
The company now has a total of over 930.17 million issued shares, compared to 620.11 million before the share expansion program.
In its 1H25 results, the group had already flagged ‘multiple uncertainties relating to going concern’ in its financial results, pawning off assets including its Hengqin property as its borrowings topped HK$2.39 billion ($307.2 million) due for repayment within 12 months or ‘repayable on demand’. This compares to just HK$21.7 million ($2.8 million) in cash and bank balances as of June 30th, 2025.
The company also recently lost control of its planned casino-resort in Cape Verde’s Praia, after the government seized the stalled development’s land.
The group is expected to further clarify its financial position in its annual results, to be published before the end of March.
The show must go on
Despite losing its casino operation, the group continues to host large-scale non-gaming events. Currently, the property is hosting the 2026 International Cities of Gastronomy Fest, Macau. The event brings together 22 booths representing UNESCO Creative Cities of Gastronomy from China and around the world.
The event also gathered experts from the culinary, academic, policy, and creative fields at the International Gastronomy Forum, featuring top representatives from UNESCO Creative Cities.
The fest also features booths from top gaming operators.
The violent death of Taiwanese fugitive Lin Bingwen in Cambodia has brought a dramatic end to one of the region’s more colorful and controversial figures in the underground gambling and money laundering ecosystem, underscoring the blurred lines between illicit finance, organized crime and parts of Asia’s gaming sector.
Lin, variously reported as 54 or 55 years old, was shot dead on the night of March 23rd on a secluded road in Sihanoukville’s District 1. Cambodian police have described the shooting as premeditated, with three to four assailants arriving at the scene, opening fire, and fleeing immediately after. A manhunt is ongoing, though authorities have released few further details and no official motive has been confirmed.
Taiwan’s Criminal Investigation Bureau has since verified Lin’s death, bringing closure to a manhunt that had spanned multiple jurisdictions and attracted significant media attention in Taiwan.
Wanted list
Known by several nicknames including “The Eel” and the “Billion-Dollar Gambling King,” Lin had been on Taiwan’s wanted list for his alleged role in one of the island’s largest underground banking and gambling cases, commonly referred to as the “88 Club” scandal. The case centered on a sophisticated network accused of facilitating approximately NT$21.7 billion ($680 million) in illicit financial transfers linked to illegal online gambling operations.
Prosecutors allege that Lin operated PGTalk, a third-party payment platform used to move funds within the network, which was tied to 88 Club figurehead Guo Zhemin. Guo was extradited to Taiwan in 2023 and sentenced in May 2025 to nearly 12 years in prison on underground banking charges, with authorities seizing significant assets including cryptocurrency holdings and billions in New Taiwan dollars.
The scandal extended well beyond financial crime, triggering one of Taiwan’s most significant police corruption cases in recent years. More than two dozen law enforcement officials were disciplined after being linked to the club, which functioned as a high-end private venue catering to influential figures across business, politics and law enforcement.
Career in organized crime
Lin’s own trajectory into the upper tiers of Asia’s grey and black-market gambling economy was unconventional but illustrative of broader regional patterns. He reportedly began his career in organized crime circles in New Taipei City before moving into sports manipulation, most notably through the 2007 “Black Rice Incident,” a match-fixing scandal that rocked Taiwan’s professional baseball league. Lin and associates were accused of bribing players to throw games while betting against their own team, an episode that led to criminal convictions and the dissolution of the franchise involved.
Following this period, Lin relocated to Macau, where he became involved in the VIP junket sector during its peak years. There, he is believed to have worked alongside prominent industry figures, handling high-roller operations with reported turnover in the billions of New Taiwan dollars. This phase of his career cemented his reputation within gambling circles and contributed to the moniker that would follow him for years.
However, as regulatory pressure intensified across the region and Macau’s junket model came under scrutiny, culminating in high-profile prosecutions and the dismantling of major operators, figures like Lin increasingly shifted toward more opaque structures, including underground banking networks and third-party payment platforms.
Lin’s legal troubles escalated in 2023 when he appeared in court in Taiwan in connection with the 88 Club case. After initially cooperating, he began to miss hearings, citing health and scheduling issues. It later emerged that he had already left Taiwan, with his lawyer confirming his absence only in late 2024. Authorities subsequently revoked his NT$3 million ($93,600) bail and issued a warrant for his arrest.
A story ending in Sihanoukville
His movements during this period were the subject of speculation. Investigators initially believed he had relocated to the United States, while other reports placed him in Japan. He eventually resurfaced in Cambodia’s Sihanoukville, a location that has, over the past decade, developed into a hub for both licensed and unlicensed gaming activity, as well as associated financial flows.
Reports suggested Lin had become involved in hotel and casino operations in the city, working with Chinese partners. Sihanoukville has been repeatedly flagged by regional authorities and international bodies as a focal point for illicit gambling operations, online scam centers and underground financial networks, making it a logical, if high-risk, refuge for individuals operating outside formal regulatory frameworks.
Despite being a fugitive, Lin maintained a visible online presence, using social media to deny that he was fleeing justice and, at times, taunting political figures in Taiwan. In one instance, he suggested he would return on his own terms while also threatening to expose sensitive information involving public officials.
His death raises fresh questions about the risks faced by individuals operating in the intersection of gambling, informal finance and organized crime, particularly in jurisdictions where enforcement remains uneven.
While no motive has been officially established, the circumstances of the killing – targeted, coordinated and executed in a relatively isolated location – are consistent with patterns seen in disputes involving financial networks or criminal organizations. The investigation into Lin’s killing remains ongoing. Cambodian authorities have yet to announce any arrests.
Games Global, in partnership with exclusive studio partner Just For The Win, has unveiled Dark Waters III Power Combo: The Cursed Voyage, the latest release in the acclaimed Dark Waters series, diving deeper into a supernatural seafaring adventure.
Building on the success of its predecessors, the sequel evolves the established Power Combo formula with a feature-rich design and layered gameplay experience.
Set in a mysterious pirate world, the 6×4, 4,096 ways title introduces the Sail into Riches progression meter, where a six-stage journey unlocks feature upgrades and enhanced gameplay as players advance.
At the core of the game is the Cash Collect feature, where Money Symbols ranging from 5x to 5,000x can land across the reels and are awarded when a Collect symbol appears.
Free Spins are activated by landing Bonus Tokens, revealing the Power Combo mechanic where Giant Reels, Stack Collect, and Golden Reels can combine. Each feature upgrades across four levels, expanding the reels to a 6×8 grid offering up to 262,144 ways to win, increasing Collect potential, and filling reels with Money Symbols to enhance wins.
Additional depth comes via the Diamond Menu, offering features such as Bonus Hunt, Coin Burst, Crew’s Choice, and Captain’s Choice, each providing unique ways to access or enhance bonus features.
Edward Eklund, Account Manager at Just For The Win Studios, said: “With Dark Waters III Power Combo: The Cursed Voyage, we wanted to build a sense of progression that players can really feel, where every spin contributes to something bigger. Combining that journey with the flexibility of the Power Combo mechanic allowed us to create a game that constantly evolves and keeps players engaged.”
Dark Waters III Power Combo: The Cursed Voyage delivers a compelling continuation of the franchise, combining evolving mechanics with the renowned strong thematic identity.
David Reynolds, Director of Games Strategy and Partner Management at Games Global, said: “This latest instalment shows how Just For The Win continues to refine and elevate a proven concept, building on the strong success of the Dark Waters series so far. Dark Waters III Power Combo: The Cursed Voyage stands out for the way it keeps gameplay fresh while staying instantly accessible. It is a fantastic addition that strengthens what has already been a hugely popular trilogy.”
iGP has integrated Gamzix into its casino aggregator, iGaming Aggregator, further strengthening the platform’s content offering for operators.
Gamzix is a Maltese game provider with over five years of iGaming experience and an MGA license. Known for its mobile-first, engagement-driven titles, the studio develops games designed to perform across diverse markets and player segments.
Through the integration, Gamzix titles are now available to operators via IGP’s iGaming Aggregator, which offers more than 12,000 games from leading providers through a single API. Designed to move beyond traditional aggregation models, the solution enables operators to launch quickly while maintaining control through multi-brand management, embedded promotional tools, a built-in reporting suite, and real-time data visibility.
Jovana Popovic Canaki, CEO at iGP, said: “Operators face constant pressure to scale faster while maintaining control across brands, content, and player engagement. iGaming Aggregator addresses this by combining high speed distribution with built in tools and real time visibility. Integrating Gamzix further strengthens the range of titles available to our partners.”
James Davies, Head of Commercial at Gamzix, added: “iGP’s focus on speed, control, and scalability aligns perfectly with how we approach distribution and long-term performance. We’re excited to bring our mobile-first, engagement-driven titles to more partners through this collaboration.”
