The Casablanca Casino in Clark Freeport Zone has reportedly shut down operations Friday after its operators failed to meet escrow requirements, local media reports.
According to Philippine Amusement and Gaming Corporation (Pagcor) chief Andrea Domingo, the operator was not able to settle the remaining escrow amount of P255 million even “after several extension[s].”
The casino which was acquired by Australia-based Frontier Capital Group Ltd in February 2016, was forced to let go of 200 workers as a result of the closure.
Former Pampanga Congressman and Angeles City Mayor Carmelo Lazatin, who is one of the shareholders of the Stotsenberg Hotel has blamed FCG for the closure of the casino, reports Sunstar.
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