Good morning. Off from the grey zone. The Financial Action Task Force (FATF) announced that the Philippines is no longer under increased monitoring, recognizing the country’s significant progress in enhancing its anti-money laundering and counter-terrorism financing (AML/CFT) regime. The removal from the grey list marks an important achievement and will boost investor confidence, but the regulatory landscape will likely remain unchanged, a legal expert told AGB. Things are also looking better for Sands China investors, as the Macau gaming operator announced its first dividend in five years, representing a total dividend payout of $260 million.
What you need to know
- The Philippines’ exit from the FATF grey list enhances its appeal as a stable and secure market for gaming investments, a lawyer tells AGB.
- Philippines finally exits FATF ‘grey list’ more than three years after ‘significant progress in improving its anti-money laundering/counter financing of terrorism regime’.
- Sands China has declared its first dividend in five years, with a total dividend payout of $260 million expected.
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AGB Intelligence
PHILIPPINES
Regulatory landscape remains steady despite Philippines’ FATF grey list exit
The Philippines’ removal from the Financial Action Task Force (FATF) grey list marks a significant achievement, enhancing the country’s reputation as a secure market for gaming investments, according to Tonet Quiogue, a legal expert. While this milestone is expected to boost investor confidence, particularly among foreign operators hesitant due to the previous grey list status, Quiogue noted that the regulatory landscape will remain unchanged as the Philippine Amusement and Gaming Corporation (PAGCOR) has already implemented stringent anti-money laundering (AML) protocols.
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