Daily Asia Gaming eBrief: Philippines takes further steps to get off the gray list

Friday 27th of October 2023

Good Morning. Gray-listed. Not quite as bad as black-listed, but not ideal within the world of Asian gaming. The Philippines aims to finally get itself off the naughty list, taking action with its regulatory bodies to bring about serious change and compliance. Meanwhile, in Australia, regulatory pressure heats up, as Queensland pushes new legislation amendments, cornering The Star.

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What you need to know

Philippines takes firm action to leave AML/CTF gray list as government agencies reevaluate regulatory measures.
The Star scrutinizing implications of new Queensland casino legislation amendments, signaling intent to assess impact on operations.

On the radar

Andy Choy appointed as the new CEO of Estoril Sol III.
CoD Manila uptick drives 57 percent profit rise for Premium Leisure Corp.
Marina Bay Sands dealers caught in cheating scheme.
NagaCorp assures full repayment of 2024 Notes with sufficient funds.
Bloomberry Resorts founder donates $17.55 million for a medical center in Clark.

AGB Intelligence

PHILIPPINES

The Philippines continues the battle to get off the AML/CTF gray list

Authorities in the Philippines up their game as they try and get off the AML/CFT gray list. The Financial Action Task Force has been reluctant to remove them over failure to mitigate certain primary issues linked to junkets and information sharing. Despite having passed its deadlines for remediation, the nation is now urging its institutions to up the ante as it aims to achieve international recognition.

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