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Gambling In The Philippines
Gambling has been present in the Philippines since at least the sixteenth century. Various legal and illegal forms of gambling are found almost all over the archipelago. The government manages gambling through the Philippine Amusement and Gaming Corporation (PAGCOR) a state-owned enterprise which both operates a number of individual casinos and in turn acts as a regulator to privately owned casino operators. Since 2016 PAGCOR has also granted operating licenses and overseen the regulation of growing online gambling sector serving offshore markets. Casino gambling and integrated resorts have become a key component of the Philippines appeal as a tourist destination with more than twenty casinos found in Metro Manila alone. History Origins Even before the Spanish colonization., gambling is said to have already been present in the Philippines. Although there are no exact records when gambling was first practiced in the archipelago, it is possible that some forms were introduced b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Amusement And Gaming Corporation
Philippine Amusement and Gaming Corporation (PAGCOR, ) is a government-owned and controlled corporation established through the ''Presidential Decree 1869''. PAGCOR is the Philippines' largest contributor of revenue to the government after the Bureau of Internal Revenue and the Bureau of Customs. PAGCOR is under the Office of the President of the Philippines. History The Corporation was created during the Martial Law years by virtue of a Presidential Decree (PD1067-A) issued by then President Ferdinand E. Marcos in response to calls for the Philippine Government to put a stop to the growing proliferation of illegal casino operations in various parts of the country then. After its establishment, PAGCOR entered into a contract with Philippine Casino Operators Corporation (PCOC) for the operation of the floating casino in the Manila Bay in 1977. However, after the floating casino was gutted by fire in 1979, PAGCOR shifted its focus to land-based casinos and entered into another ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Charity Sweepstakes Office (PCSO)
The Philippine Charity Sweepstakes Office (PCSO, fil, Tanggapan sa Charity Sweepstakes ng Pilipinas) is a government-owned and controlled corporation of the Philippines under direct supervision of the Office of the President of the Philippines. It is mandated to do fund raising and provide funds for health programs, medical assistance and services, and charities of national character. The raised collections goes to the President's Presidential Social Fund to improve the country's social welfare. Sources of Revenue * Sweepstakes Draw * National Lotteries (Lotto) * Small Town Lotteries (to compete with jueteng, an illegal gambling practice) * Scratchcard (Scratch-it) * Horse Racing Allocation of Net Receipts * Fifty-five percent shall be set aside as a prize fund for the payment of prizes, including those for the owners, jockeys of running horses, and sellers of winning tickets. Prizes not claimed within one year from date of draw shall be considered forfeited, and shall for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PAGCOR
Philippine Amusement and Gaming Corporation (PAGCOR, ) is a government-owned and controlled corporation established through the ''Presidential Decree 1869''. PAGCOR is the Philippines' largest contributor of revenue to the government after the Bureau of Internal Revenue and the Bureau of Customs. PAGCOR is under the Office of the President of the Philippines. History The Corporation was created during the Martial Law years by virtue of a Presidential Decree (PD1067-A) issued by then President Ferdinand E. Marcos in response to calls for the Philippine Government to put a stop to the growing proliferation of illegal casino operations in various parts of the country then. After its establishment, PAGCOR entered into a contract with Philippine Casino Operators Corporation (PCOC) for the operation of the floating casino in the Manila Bay in 1977. However, after the floating casino was gutted by fire in 1979, PAGCOR shifted its focus to land-based casinos and entered into another ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rodrigo Duterte
Rodrigo Roa Duterte (, ; born March 28, 1945), also known as Digong, Rody, and by the initials DU30 and PRRD, is a Filipino lawyer and politician who served as the 16th president of the Philippines from 2016 to 2022. He is the chairperson of PDP–Laban, the ruling political party in the Philippines during his presidency. Duterte is the first president of the Philippines to be from Mindanao, and is the oldest person to assume office, beginning his term at age 71. Born in Maasin, Leyte (now in Southern Leyte), Duterte moved to Davao as a child where his father, Vicente Duterte, served as provincial governor. He studied political science at the Lyceum of the Philippines University, graduating in 1968, before obtaining a law degree from San Beda College of Law in 1972. He then worked as a lawyer and was a prosecutor for Davao City, before becoming vice mayor and, subsequently, mayor of the city in the wake of the 1986 People Power Revolution. Duterte won seven terms and s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Offshore Gaming Operators
Philippine Offshore Gaming Operators (POGOs) is the official designation for firms operating in the Philippines which offer online gambling services to markets outside the Philippines. Background Philippine Offshore Gaming Operators or POGOs are online gambling firms that operate in the Philippines but cater to customers outside the country. To operate legally they must be licensed by the Philippine Amusement and Gaming Corporation (PAGCOR). They are obliged to restrict any individual in the Philippines regardless of citizenship, Filipino citizens regardless of location, and potential patrons in countries and territories where offshore gambling is illegal from availing their services; failure to do so risks license revocation. PAGCOR started the processing of license applications for POGOs in 2016 after it decided not to renew the license of local online gambling firm PhilWeb in an effort to boost its revenue. There are three license categories. Category 1 involves services that ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Okada Manila
Okada Manila ( ja, オカダマニラ, Okada Manira) is a casino resort and hotel complex located on the Entertainment City gaming strip in Parañaque, Metro Manila, Philippines. In 2007, with a total construction cost of about 250 billion Yen and spending 7 years, Japanese billionaire Kazuo Okada established and managed Okada Manila. History Tiger Resort Leisure and Entertainment was granted a license to operate a casino within the Entertainment City in 2008. In June 2016, the casino complex then named as Manila Bay Resorts was re-branded as Okada Manila. The facility is intended to be used by Okada to compete with casinos in Macau and to position Metro Manila as a regional and international destination. The casino was set to open in November 2016 but the opening was later delayed due to worse-than-expected weather conditions. The casino complex was opened for "preview" on December 21, 2016 and later commenced operations as a casino on December 30, 2016. The Fountain, was o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metro Manila
Metropolitan Manila (often shortened as Metro Manila; fil, Kalakhang Maynila), officially the National Capital Region (NCR; fil, link=no, Pambansang Punong Rehiyon), is the capital region, seat of government and one of three List of metropolitan areas in the Philippines, defined metropolitan areas in the Philippines. It is composed of 16 Cities of the Philippines#Legal classification, highly urbanized cities: the Manila, city of Manila, Quezon City, Caloocan, Las Piñas, Makati, Malabon, Mandaluyong, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, San Juan, Metro Manila, San Juan, Taguig, and Valenzuela, Metro Manila, Valenzuela, as well as the municipality of Pateros. The region encompasses an area of and a population of as of 2020. It is the second most populous and the most densely populated Regions of the Philippines, region of the Philippines. It is also the List of metropolitan areas in Asia, 9th most populous metropolitan area in Asia and the List of larges ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entertainment City
Entertainment City, also known as E-City (formerly ''PAGCOR City'' and ''Manila Bay Tourism City''), is a gaming and entertainment complex under development by PAGCOR spanning an area of in Bay City, Metro Manila, Philippines. It was first envisioned by PAGCOR in 2002. Alongside the Aseana City business development, it lies at the western side of Roxas Boulevard and south of SM Central Business Park (SM Mall of Asia), part of Parañaque.$15-B Pagcor casino complex gets off the ground, Philippine Daily Inquirer, April 4, 2008 The project is officially named as the Bagong Nayong Pilipino-Entertainment City through an executive order by President Gloria Macapagal Arroyo and has been called several other names by the press. The most common name being referenced is "Entertainment City". The site has been declared a PEZA-approved economic zone and in 2017, President Rodrigo Duterte named Entertainment City as Expo Pilipino Entertainment City will be named after the exposition for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resorts World Manila
Newport World Resorts (formerly Resorts World Manila) is an integrated resort, located in Newport City, opposite Ninoy Aquino International Airport (NAIA) Terminal 3, in Pasay, Metro Manila, Philippines. The resort is owned and operated by Travellers International Hotel Group, Inc. (TIHGI), a joint venture between Alliance Global Group and Genting Hong Kong. The project, occupying part of a former military camp, has four hotels, casino gambling areas, a shopping mall, cinemas, restaurants, clubs and a theater. A soft launch of the resort took place on August 28, 2009. Resorts World Manila is the sister resort to Resorts World Genting in Malaysia and Resorts World Sentosa in Singapore. It was the first integrated resort in Metro Manila, and from 2009 to 2013 it was the only one in operation until the opening of Solaire Resort & Casino in Entertainment City, Parañaque on March 16, 2013. On June 2, 2017, dozens of people died after a robbery caused a stampede and the perpetrat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alliance Global
Alliance Global Group, Inc., styled on its logo as AllianceGlobal and also known as Alliance Global, Inc. (AGI), is a large holding company with business activities spanning the food and beverage industry (including both production and restaurant operations), gambling, and real estate development. It is one of the largest companies based in the Philippines, and is managed by the family of its chairman and CEO Andrew Lim Tan. In 2017, the company moved its headquarters to Uptown Bonifacio, Taguig in the Manila metropolitan area (the National Capital Region of the Philippines). Subsidiaries Alliance Global Group is composed of several companies, including: Food & Beverage *Emperador Inc. – a beverage production company best known for its Emperador brandy, which became the world's best-selling brandy (by volume) in 2006. In 2014, Emperador Inc. purchased the Scottish whisky company Whyte and Mackay from India-based United Spirits Ltd for £430m. In 2015, Emperador Inc. made a de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Genting Hong Kong
Genting Hong Kong Limited ( zh, 雲頂香港有限公司) was a holding company that operated cruise and resort businesses. It was headquartered in (海洋中心), Tsim Sha Tsui, Hong Kong and listed on the Hong Kong Stock Exchange (). It was part of the Genting Group, whose chairman Lim Kok Thay was also the chairman and majority shareholder of Genting Hong Kong with 69% ownership of April 2020. It also owned the cruise lines Crystal Cruises, Dream Cruises and Star Cruises (collectively Genting Cruise Lines), Resorts World Manila, and the MV Werften and Lloyd Werft shipyards. On 19 January 2022, the company filed for bankruptcy in the Bermuda Islands. After reviewing it's financial conditions, the company filed for liquidation on 18 January 2022. The motion for liquidation was approved by Bermuda's Supreme Court on 7 October 2022. History Genting Hong Kong was originally a subsidiary of Genting Group with a 17.8% stake owned by Genting Berhad. In 10 November 1993, Genting est ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fitch Ratings
Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975.551 History Fitch Ratings is dual headquartered in New York and London. Hearst owns 100 percent of the company following its acquisition of an additional 20 percent for $2.8 billion on April 12, 2018. Hearst had owned 80 percent of the company after increasing its ownership stake by 30 percent on December 12, 2014, in a transaction valued at $1.965 billion. Hearst's previous equity interest was 50 percent following expansions on an original acquisition in 2006. Hearst had jointly owned Fitch with FIMALAC SA, which held 20 percent of the company until the 2018 transaction. Fitch Ratings and Fitch Solutions are part of the Fitch Group. The firm was founded by John Know ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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