Monday, August 08, 2022

Only $46 million of stolen funds entered Philippines local casino industry; PAGCOR


Preliminary findings of state-run Philippine Amusement Gaming Corp. (Pagcor) has revealed that only $46 million of the $81 million in Bangladeshi hacked funds entered Philippine casinos, reports the Inquirer.

“Only a portion (of the $81 million) went to the local casinos and these were all used to bet at the tables and buy chips,” said an unidentified Pagcor official to the Inquirer.

The official said the funds were split into a $26-million tranche that was channelled into the account of Solaire Resort and Casino and another $20-million tranche was channelled to accounts owned by Easter Hawaii Casino and Resort, located in the Cagayan Economic Zone.

“The rest of the funds never entered the local casino system. So, we don’t know where those funds went,” the official added.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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