Alliance Global Group launches new US$48 million share repurchase program
Alliance Global Group, Inc. (AGI), a joint venture partner in Resorts World Manila operator Travellers International Hotel Group, Inc, has announced a new share repurchase program of up to Php2.5 billion (US$48 million). The program, which will run for 12...
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PAGCOR backs crackdown on POGOs dodging tax, says moratorium still in place
Philippines gaming regulator PAGCOR has expressed its “full support” for a crackdown by the Department of Finance (DoF) on any Philippine Offshore Gaming Operators (POGOs) found not to be paying their taxes. As reported by Inside Asian Gaming, Finance Secretary...
Department of Finance orders closure of all POGOs found to be withholding tax
The Philippines Department of Finance (DoF) is making good on its promise to crack down on Philippine Offshore Gaming Operators (POGOs) after ordering the Bureau of Internal Revenue (BIR) to immediately shut down any operators found not to be paying...
Landing begins search for new land to develop Manila integrated resort
Hong Kong-listed Landing International Development Ltd has revealed it will look to find a new plot of land for its planned integrated resort project in Manila’s Entertainment City precinct after formally receiving notice that a previous land lease deal has...
181 Chinese nationals arrested in dispute over POGO accreditation status
A Philippines-based online gaming operation has issued a statement defending its right to continue as a licensed Philippine Offshore Gaming Operator after 181 Chinese nationals under its employment were arrested during a raid by local police in Lapu-Lapu City last...
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Strong VIP growth sees Okada Manila GGR climb 72% in August
Universal Entertainment Corp reported gross gaming revenue of Php3.86 billion, a year-on-year increase of 72%, and Adjusted EBITDA of Php754 million, up 254%, at its Philippines integrated resort Okada Manila in August. In its monthly results announcement issued Wednesday, Universal...
Philippines rejects China’s call to ban online gambling
Philippines President Rodrigo Duterte has rejected China’s calls to ban online gambling operations. Addressing the Philippines in a televised press conference on Wednesday, Duterte revealed that he had opted not to vow to pressure from Beijing following a meeting with...
China gives Philippines iGaming reprieve but POGOs not safe yet
Philippines Finance Secretary Carlos Dominguez III has confirmed that President Rodrigo Duterte discussed the nation’s growing online gaming industry with Chinese leader Xi Jinping last Friday, but says no specific request for a complete ban on the industry was made....
