Philippines Impact For Leisure And Resorts

By Brian Cullingworth, Last updated Sep 16, 2016

Pagcor orders shutdown of 53 e-gaming operations

The shoot-from-the-hip online gambling policies of new Philippines national president Rodrigo Duterte impacted Leisure and Resorts World Friday as state-owned Philippine Amusement and Gaming Corporation ordered the company to shutter 53 of its e-gaming and electronic bingo venues.
The shutdowns were revealed when Leisure and Resorts World reported the issue as a material development to the local stock exchange, advising that its subsidiaries AB Leisure Exponent Inc. and Total Gamezone Xtreme Inc. had been warned by Pagcor to halt operations on grounds of non-compliance with distance restriction guidelines as defined in the Gaming Site Regulatory Manual.
The relevant section of the regulations stipulates that gaming venues must be at least 200 metres in distance from schools and churches.
Although Leisure and Resorts operates many more venues which have apparently not been affected by the Pagcor action, its stock exchange advisory warned that net income estimated to the end of 2016 from the banned venues will amount to the equivalent of US$ 1.19 million, whilst related assets will suffer impairment to the tune of US$4 million.
"These numbers approximate 5 percent of total consolidated 2015 revenues and net income of the LRWC Group," the advisory noted, adding that the group intends to request that Pagcor reconsider its decision as a matter of urgency.
The Leisure and Resorts World shutdown is the latest to manifest the wrath of President Duterte, who has threatened to "destroy" online gambling as a social evil; last month he all but dismembered Philweb by having Pagcor refuse to renew its licensing.
Since then he has moderated his stance somewhat, indicating that as long as online operators pay the appropriate taxes and don't target Filipino punters, he will leave them alone.

Online Casino News Courtesy of Infopowa

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.


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