Legal
February 8, 2023
US SPAC Firm Starts Legal Action against Okada Manila
The lawsuit was filed on February 2 in the Delaware Court of Chancery and calls for the prompt consummation of the merger, which was initially agreed upon in October 2021. Universal Entertainment to Review Lawsuit Amidst Merger Extension The ultimate parent company of Okada Manila, Japan’s Universal Entertainment Corp, has stated that they will carefully […]
Industry
February 3, 2023
PAGCOR Poised to Return to Pre-Pandemic Results, Says CEO
Commenting on the latest results, PAGCOR chairman and chief executive, Alejandro Tengco, suggested that the gambling industry in the country could see a return to its pre-pandemic levels before long, and possibly this or next year, although no specificity on the timeline was offered. The Worst Is Behind, Economic Boon Is Ahead Tengco spoke in […]
Industry
January 30, 2023
Ex-Senate Head Proposes Privatizing PAGCOR
Franklin Drilon, the former Philippines Senate Minority leader, has urged the government to consider privatizing PAGCOR and the Philippine Charity Sweepstakes Office (PCSO) as a way to finance the proposed Maharlika Investment Fund. Privatization Is Meant to Support the Proposed Maharlika Investment Fund The sovereign fund, if established, would see the Philippine government invest in […]
Business
January 27, 2023
POGOs Feel Public Pressure in the Philippines
The county’s residents have voted in a new Pulse Asia survey, which took place between November 27 and December 1. In the survey, the majority of respondents, or some 58%, argued that POGOs are seen as harmful to society and perhaps even the economy. Vice Spreads Like Wildfire in Society Because of POGOs People were […]
Industry
January 25, 2023
PAGCOR Answers Backlash and Commits to Nurturing POGO Industry
This comes after a Senate hearing on January 23, where PAGCOR was accused of failing to take sufficient action against offending POGOs and hiring an unlicensed company to audit POGO revenues and taxes. PAGCOR Sees POGO Industry as Beneficial to the Philippines’ Economy In an official statement released on January 24, PAGCOR addressed these accusations […]
Legal
January 24, 2023
PAGCOR Under Pressure for Working with Unlicensed Tax Auditor
In 2017, PAGCOR gave Global ComRCI a consultancy agreement worth PHP 26 billion ($477 million) for monitoring the revenues of licensed Philippine Offshore Gaming Operators (POGOs) and ensuring that they were paying the appropriate amount of tax. However, it has recently been exposed that Global ComRCI is not registered in the Philippines and did not […]
Sports
January 20, 2023
PAGCOR Contributes Another $4.7M to Philippine Sports Commission
The latest remittance of funds to the Philippine Sports Commission (PSC) demonstrates that the Philippines gaming regulator and operator, PAGCOR, is an important part of the economy and its ways work. PAGCOR Continues to Support Sports in the Philippines The regulator has been lambasted by numerous MPs and insiders of the government of President Bongbong […]
Casino
January 17, 2023
US Court Discards RCBC Dismissal Claim Over 2016 Bangladesh Cyber Heist
The 2016 cyber heist resulted in the loss of $81 million to Philippine casinos so the RCBC is facing accusations of negligence in failing to prevent cybercrime. It is also facing accusations that it did not implement adequate security measures to prevent the theft of such a large sum of money. The New York Supreme […]
Industry
January 5, 2023
PAGCOR Reports 62% Increase in Self-Exclusion Requests Year-On-Year
The total number of self-inclusion requests for the whole of 2022 was 333, while the requests in 2021 were only 206. The 2022 number was the highest on record for the past four years. This is mainly due to the COVID restrictions that were in place for casinos during 2020 and 2021. 157 of the […]
Casino
January 3, 2023
Wanted Illegal Gambling Boss Arrested in the Philippines
Zhanhong is wanted in China over his alleged participation in illegal gambling operating out of Shandong province in the country. He was arrested on Monday by the Philippines Bureau of Immigration which was tipped by homologs in China. Zeng was apprehended on board one of Air China’s aircraft as he was leaving Ninoy Aquino International […]
