GGRAsia – Philippines

Universal Ent affiliate to develop land next to Okada Manila

Mar 24, 2023 Newsdesk Latest News, Philippines, Top of the deck

Japanese gaming conglomerate Universal Entertainment Corp says that one of its affiliate companies is planning to develop a plot of land close to the Okada Manila casino resort (pictured) in the...

Bloomberry ends deal to invest in Uy’s Cebu, Clark casinos

Mar 23, 2023 Newsdesk Latest News, Philippines, Top of the deck

Philippine casino resort operator Bloomberry Resorts Corp says it has terminated an initially non-binding agreement – known as a term sheet – to invest in a unit of another Philippine business,...

Philippines must strengthen junket AML controls: watchdog

Mar 22, 2023 Newsdesk Latest News, Philippines, Top of the deck

Anti-money laundering (AML) controls in the Philippines’ casino sector need to be strengthened, says an analysis report by the country’s AML watchdog. The body pointed the finger at the junket...

Pagcor mulls pure regulator role via US$1.5bln casinos sale

Mar 21, 2023 Newsdesk Latest News, Philippines, Top of the deck

The Philippines is looking to raise circa PHP80 billion (US$1.47 billion) from the sale of its network of small, state-owned casinos, said on Tuesday the head of the country’s regulator the...

Universal Ent counterclaims are desperate: 26 Capital

Mar 21, 2023 Newsdesk Latest News, Philippines, Top of the deck

United States-listed 26 Capital Acquisition Corp says it is pursuing legal action against four entities linked to Japanese conglomerate Universal Entertainment Corp because they “were not honouring...

Hann Casino says taps underserved Manila rich, foreigners

Mar 21, 2023 Newsdesk Latest News, Philippines, Top of the deck

Daesik Han, president and chief executive of Hann Resorts, the master brand of Hann Casino and Hann Reserve leisure schemes at Clark in the Philippines, has told GGRAsia he is “optimistic” about...

US$165mln syndicated loan for Hann Reserve, says promoter

Mar 20, 2023 Newsdesk Latest News, Philippines, Top of the deck

Hann Philippines Inc said in a social media posting that it had signed a PHP9-billion (US$164.6-million) syndicated term loan agreement with Asia United Bank Corp and Union Bank of the Philippines...

Universal Ent seeks to end SPAC deal for Okada Manila listing

Mar 20, 2023 Newsdesk Latest News, Philippines, Top of the deck

Japanese conglomerate Universal Entertainment Corp is denying the accusations made against the group in a suit by United States-listed 26 Capital Acquisition Corp regarding a deal that would involve...

LET Group flags 2022 loss of US$52mln, Hoiana repays loan

Mar 20, 2023 Newsdesk Latest News, Philippines, Rest of Asia, Top of the deck

Hong Kong-listed LET Group Holdings Ltd says it expects to report a 2022 loss of approximately HKD408.8 million (US$52.1 million) compared to a loss of HKD527.5 million in 2021. LET Group –...

Pagcor ends contract with POGO auditor, flags legal action

Mar 10, 2023 Newsdesk Latest News, Philippines, Top of the deck

The Philippine Amusement and Gaming Corp (Pagcor) says it has terminated the contract with a third-party auditor responsible for auditing the Philippine Offshore Gaming Operators (POGOs). Global...