Philippines' PH Resorts Group gets regulatory nod for $350 million share offerin

Siren

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Quote from: crzy on February 05, 2019, 09:08:43 AM

Quote from: btc_angela on February 05, 2019, 08:00:14 AM

Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

Yes, that's true, even poor people can enter casino's in Manila, although there are dress codes, but I witnessed a lot of every time I enter a casino in Manila people who's really out of money but still trying their luck. And I also see some of them winning, like a case of a old lady who only bet 10 pesos but won 10K pesos in a slot machine.

Ordinary people finds their luck on gambling and that’s why they continue to play. Its not that expensive to gamble in the Philippines and in fact this growth on many casinos can make a lot of jobs, and more profit for the economy. Love to play card games, an easiest way to gamble.

If you are finding luck in gambling thats good but always consider to play moderately specially if we are a family person ,because i will disagree if all the money we gain from our sources of living will end up losing in gambling and our family will go starvation

I am a gambler my self but i make sure that everything is at place,i never compromise the amount in excessively from my budget for playing

We both love card games mate,though i also like playing roulette optionally

Yaunfitda

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Quote from: nydiacaskey01 on February 05, 2019, 10:49:50 PM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

I think what the government doesn't want is illegal gambling because its unregulated and the Government doesn't get anything from it unlike this casinos that are being built in different places in the Philippines, the government earns from it from start to operations like from permits (building permit, environmental permit, business permit) to build up to taxes from their daily earnings.

Exactly, the government is all in for the casino's to milk it with taxes and channel those money for government projects (roads, bridges, public utilities and even health care for the poor or rehabilitation center for drug addicts.) So we can't really blame them after all.

I think someone posted a link already for the positive effects of gambling in a nation so it's going to be captivating if Philippines turns out to be a safe haven for traditional casino's in Asia that could also bolstered online crypto gaming in that country as well.

nydiacaskey01

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Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

I think what the government doesn't want is illegal gambling because its unregulated and the Government doesn't get anything from it unlike this casinos that are being built in different places in the Philippines, the government earns from it from start to operations like from permits (building permit, environmental permit, business permit) to build up to taxes from their daily earnings.

TravelMug

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Quote from: crzy on February 05, 2019, 09:08:43 AM

Quote from: btc_angela on February 05, 2019, 08:00:14 AM

Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

Yes, that's true, even poor people can enter casino's in Manila, although there are dress codes, but I witnessed a lot of every time I enter a casino in Manila people who's really out of money but still trying their luck. And I also see some of them winning, like a case of a old lady who only bet 10 pesos but won 10K pesos in a slot machine.

Ordinary people finds their luck on gambling and that’s why they continue to play. Its not that expensive to gamble in the Philippines and in fact this growth on many casinos can make a lot of jobs, and more profit for the economy. Love to play card games, an easiest way to gamble.

Correct, and maybe this is the compelling reasons why Duterte changed his stance and willing to established another big casino to that his constituent will have a lot of jobs in the future.

Wondering though since election is coming this May in the Philippines, will this affect negatively if the winners is anti-Duterte. I read that Senators will be elected so I'm thinking that if they're against the current administration and won a seat will there be adverse effect?

crzy

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Quote from: btc_angela on February 05, 2019, 08:00:14 AM

Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

Yes, that's true, even poor people can enter casino's in Manila, although there are dress codes, but I witnessed a lot of every time I enter a casino in Manila people who's really out of money but still trying their luck. And I also see some of them winning, like a case of a old lady who only bet 10 pesos but won 10K pesos in a slot machine.

Ordinary people finds their luck on gambling and that’s why they continue to play. Its not that expensive to gamble in the Philippines and in fact this growth on many casinos can make a lot of jobs, and more profit for the economy. Love to play card games, an easiest way to gamble.

btc_angela

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Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

Yes, that's true, even poor people can enter casino's in Manila, although there are dress codes, but I witnessed a lot of every time I enter a casino in Manila people who's really out of money but still trying their luck. And I also see some of them winning, like a case of a old lady who only bet 10 pesos but won 10K pesos in a slot machine.

Johnzky

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Quote from: peter0425 on January 30, 2019, 07:56:30 PM

Quote from: efrenbilantok on January 30, 2019, 10:57:54 AM

What the heck, I can not believe in this news. Having such a thing is unacceptable for a religious nation, especially Duterte now stands as the president of the country, which forces to prevent poverty and oppress the weak powers. This is very shocking news for those people who believes in the President

Don't be surprised by the sudden shift of the government. If they see that there are money to generate by opening another casino then so be it. Religion? He even attacks the Church so no doubt that he will support gambling in the Philippines, but again, my only concern is corruption here. Maybe after his term we will see who's the people behind who really "won" in this decision by the Philippine government.

As if that easy to bring corrupt people behind bars specially in the country like Philippines where politics becomes a normal talk of the town.where no one knows who really talks truthful since they are throwing stones to one another.the former administration will be blame for what had happen to their term.no i think nothing will prove anything but hopefully they will act for one interest and that is for the benefits of the Filipino

Oceat

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Quote from: peter0425 on January 30, 2019, 07:56:30 PM

Quote from: efrenbilantok on January 30, 2019, 10:57:54 AM

What the heck, I can not believe in this news. Having such a thing is unacceptable for a religious nation, especially Duterte now stands as the president of the country, which forces to prevent poverty and oppress the weak powers. This is very shocking news for those people who believes in the President

Don't be surprised by the sudden shift of the government. If they see that there are money to generate by opening another casino then so be it. Religion? He even attacks the Church so no doubt that he will support gambling in the Philippines, but again, my only concern is corruption here. Maybe after his term we will see who's the people behind who really "won" in this decision by the Philippine government.

There has to be another side of the story here and we shouldn't be believing what we don't see or hear rather than do our own research or conduct an interview to him personally so that some of us will know what really is his idea about of this casinos. I heard that Pres. Putin was openly welcome him during on his visit to Russia. I wonder how famous that Pres. Duterte is and how long is his connection because i think he was too famous all around the globe.

peter0425

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Quote from: efrenbilantok on January 30, 2019, 10:57:54 AM

What the heck, I can not believe in this news. Having such a thing is unacceptable for a religious nation, especially Duterte now stands as the president of the country, which forces to prevent poverty and oppress the weak powers. This is very shocking news for those people who believes in the President

Don't be surprised by the sudden shift of the government. If they see that there are money to generate by opening another casino then so be it. Religion? He even attacks the Church so no doubt that he will support gambling in the Philippines, but again, my only concern is corruption here. Maybe after his term we will see who's the people behind who really "won" in this decision by the Philippine government.

efrenbilantok

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What the heck, I can not believe in this news. Having such a thing is unacceptable for a religious nation, especially Duterte now stands as the president of the country, which forces to prevent poverty and oppress the weak powers. This is very shocking news for those people who believes in the President

Kemarit

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Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

That was true, there are Filipinos who are big time and can really afford to play in high-end casinos here and abroad. However, if we will compare the ratio of rich and poor, there is a big gap. There are only few elites here in our country but also have a huge number of families experiencing poverty. That is why I can't consider our economy as good as the others because of the imbalance.

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

Believed me, I've been in casino's in the Philippines wherein everyone is welcoming, even the less unfortunate ones who wanted to get a feel on what's its all about playing in a big casino. They're will try everything just to win not just in carnival or fiesta sponsored games. Even free rides from certain point is available. So I have no doubt that many Filipinos will go and take the risk regardless how deep your pocket is. And the "show money" rule before is not longer applicable as well. And with another casino's on the horizon, it's gonna be accessible and more people will be addicted, IMHO.

stomachgrowls

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Quote from: Siren on January 30, 2019, 01:57:28 AM

Quote from: NavI_027 on January 30, 2019, 01:22:52 AM

Quote from: stomachgrowls on January 30, 2019, 12:32:45 AM

The question is, how an average joe would able to sustain to play on a casino? I doubt that even losing a few bets will already lead for him to go home directly.

Absolutely! I think he can't even stand a couple of hours playing poker there unless he is lucky and always winning (but very ideal to happen). And besides there is a tendency that he can't handle the pressure because very small bets are not welcome there. Doing such thing might get you bullied and treated as a joke by the rich players. As a result, he will be forced to level his bets on the others which leads him faster to bankruptcy once he lose.

So as a gambler, it is very important to know your limits because sometimes being gutsy leads you to misery.

Theres alot of games casino can offer and as a average joe mostly paying slot machines in which small amount is enough to satisfy the needs to play.so i guess there will no bullying will happen unless as a average joe you want to sit on a table that mostly bigtime gamblers position,but it is indeed that being a gambler we must be responsible for limitations so the best way is bring only the amount that we can afford to lose

For slots you can really play out with minimal bets but even with just your common sense or self-will you wont really sit into a table which you do know that you are an ant sitting with elephants. Grin

We are already derailing this thread so its time to cut-off this gambling average joe's. hehe

On topic, any government will change plans whether they are willing to do it for the sake of adding up GDP or just simply there are transactions under the table.

Siren

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Quote from: NavI_027 on January 30, 2019, 01:22:52 AM

Quote from: stomachgrowls on January 30, 2019, 12:32:45 AM

The question is, how an average joe would able to sustain to play on a casino? I doubt that even losing a few bets will already lead for him to go home directly.

Absolutely! I think he can't even stand a couple of hours playing poker there unless he is lucky and always winning (but very ideal to happen). And besides there is a tendency that he can't handle the pressure because very small bets are not welcome there. Doing such thing might get you bullied and treated as a joke by the rich players. As a result, he will be forced to level his bets on the others which leads him faster to bankruptcy once he lose.

So as a gambler, it is very important to know your limits because sometimes being gutsy leads you to misery.

Theres alot of games casino can offer and as a average joe mostly paying slot machines in which small amount is enough to satisfy the needs to play.so i guess there will no bullying will happen unless as a average joe you want to sit on a table that mostly bigtime gamblers position,but it is indeed that being a gambler we must be responsible for limitations so the best way is bring only the amount that we can afford to lose

NavI_027

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Quote from: stomachgrowls on January 30, 2019, 12:32:45 AM

The question is, how an average joe would able to sustain to play on a casino? I doubt that even losing a few bets will already lead for him to go home directly.

Absolutely! I think he can't even stand a couple of hours playing poker there unless he is lucky and always winning (but very ideal to happen). And besides there is a tendency that he can't handle the pressure because very small bets are not welcome there. Doing such thing might get you bullied and treated as a joke by the rich players. As a result, he will be forced to level his bets on the others which leads him faster to bankruptcy once he lose.

So as a gambler, it is very important to know your limits because sometimes being gutsy leads you to misery.

stomachgrowls

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Quote from: creeps on January 29, 2019, 11:33:16 PM

Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

That was true, there are Filipinos who are big time and can really afford to play in high-end casinos here and abroad. However, if we will compare the ratio of rich and poor, there is a big gap. There are only few elites here in our country but also have a huge number of families experiencing poverty. That is why I can't consider our economy as good as the others because of the imbalance.

Gambling in the Philippines is not that expensive because we have so many options to gamble. Everyone is welcome to casinos I think regardless of your status in life as long as you are willing to spend money because I saw a lot of average people trying their luck on casinos and to be honest a lot of girls on casinos are there to do their own business, since most of the casinos here are being occupied by the foreigner.

The question is, how an average joe would able to sustain to play on a casino? I doubt that even losing a few bets will already lead for him to go home directly. Comparing carnival type of gambling
and on a place like casinos then you will really able to see the difference.About prostitution on casinos, its always been there not only to this place but it is on overall.

creeps

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Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

That was true, there are Filipinos who are big time and can really afford to play in high-end casinos here and abroad. However, if we will compare the ratio of rich and poor, there is a big gap. There are only few elites here in our country but also have a huge number of families experiencing poverty. That is why I can't consider our economy as good as the others because of the imbalance.

Gambling in the Philippines is not that expensive because we have so many options to gamble. Everyone is welcome to casinos I think regardless of your status in life as long as you are willing to spend money because I saw a lot of average people trying their luck on casinos and to be honest a lot of girls on casinos are there to do their own business, since most of the casinos here are being occupied by the foreigner.

Quote from: NavI_027 on January 29, 2019, 09:21:51 PM

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

In addition to this, there's a carnival in every places which you can play more games like the famous one "Color Game". Well, this is very traditional and I think this will stay forever for the traits of the Filipinos.

peter0425

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Quote from: carlfebz2 on January 28, 2019, 10:27:10 PM

Quote from: peter0425 on January 28, 2019, 08:35:03 PM

Quote from: buwaytress on January 28, 2019, 07:14:38 AM

Business is business and while the industry, in all its shrouds of secrecy, may not do much for the actual economy nationally (at least, not provably nett positive), it still contributes a lot to GDP and revenue for government coffers. We've got no idea how much these statistics help them lobby for even regional say.

It does seem extremely at odds with his previous stances. His regime's all about attacking the root causes of social ills, and there's no grounded Filipino I know who won't point at least one accusing finger at the casino industry.

Exactly, money talks and Philippines being one of the most corrupts country not just in Asia, I wouldn't be surprised by the sudden U-turn of the Duterte administration. It will bring some jobs to locals, but it doesn't mean it will have a positive effect to the whole economy. I'm sure politicians pockets big money here just to lobby the President and get his approval for another Philippine casino.

Advantages would always twinned by disadvantages.If the current administration did approved such thing then they do already saw the possible benefit to them.Lets say they are against with gambling
but on the other side they will surely have the thought on its brighter side.
Even I wont really be surprised if they would u-turn on their decision and would focus to open up casinos on that country.

Definitely, there always the pros and the cons specially in this situation. Did Duterte or someone close to him weigh all the advantage against disadvantages? Absolutely, but did someone pocketing something out of this deal? We don't know, but the probability is high I believed, in my opinion.

NavI_027

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Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

That was true, there are Filipinos who are big time and can really afford to play in high-end casinos here and abroad. However, if we will compare the ratio of rich and poor, there is a big gap. There are only few elites here in our country but also have a huge number of families experiencing poverty. That is why I can't consider our economy as good as the others because of the imbalance.

Quote from: btc_angela on January 29, 2019, 08:33:14 PM

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

So mean that even the poor can go to casinos? I don't think so. Yes! I do believe that some poor people gambles due to desperation for money but only in low level. They only play small games such as mahjong, various card games, small betting and lottery (Sorry if I ever misinterpreted your question).

btc_angela

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Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

Quote from: sheenshane on January 29, 2019, 10:36:14 AM

Quote from: Dreamchaser21 on January 29, 2019, 08:57:42 AM

Quote from: omonuyak on January 29, 2019, 05:15:37 AM

This is another great developments in the casino's crypto and Philippines regulatory authority has done very well. I believe that in future other governments are going to see good in this and cryptocurrencies will be used all over the world.

I think this is not a crypto casinos but its a traditional gambling. Its good for the Philippines, and it can make a lot of gamblers again. More countries are slowly showing a great support for gambling nowadays, and no doubt that Philippines is one of those countries, I will just enjoy the good ambiance of those casinos.

Yes, that is not a crypto casino, that is a traditional casino. A lot of Filipino politicians people are in a casino every weekend, I knew that because my uncle told me. But it would nice to hear if that casino is accepting cryptocurrencies to use in gambling. So that cryptocurrency and gambling casino were showing up together here in the Philippines. And probably Bitcoin too will be known as well, uh, maybe that is a start to trigger the casino to accept also cryptocurrencies, who knows.

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

Philippines is a third world country so I doubt that only the rich people goes into a casino, lots have been trying their luck to became rich or at least win big. Not just in the Philippines but other countries as well.

Quote from: stomachgrowls on January 29, 2019, 06:48:41 PM

A certain country will really make decisions or do alter anytime as they like if they able to see the advantage of it and it may harm the community through addiction
but they are focusing on the revenue/tax.

I agree but the problem with the government of the Philippines is that they're portraying to be non-corruptible but I smell something fishy here because someone mentions a certain Dennis Uy, which look like a close confidante of the President that's why he was able to lobby him to and get approval.

stomachgrowls

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Quote from: sheenshane on January 29, 2019, 10:36:14 AM

Quote from: Dreamchaser21 on January 29, 2019, 08:57:42 AM

Quote from: omonuyak on January 29, 2019, 05:15:37 AM

This is another great developments in the casino's crypto and Philippines regulatory authority has done very well. I believe that in future other governments are going to see good in this and cryptocurrencies will be used all over the world.

I think this is not a crypto casinos but its a traditional gambling. Its good for the Philippines, and it can make a lot of gamblers again. More countries are slowly showing a great support for gambling nowadays, and no doubt that Philippines is one of those countries, I will just enjoy the good ambiance of those casinos.

Yes, that is not a crypto casino, that is a traditional casino. A lot of Filipino politicians people are in a casino every weekend, I knew that because my uncle told me. But it would nice to hear if that casino is accepting cryptocurrencies to use in gambling. So that cryptocurrency and gambling casino were showing up together here in the Philippines. And probably Bitcoin too will be known as well, uh, maybe that is a start to trigger the casino to accept also cryptocurrencies, who knows.

Not to underestimate the current economic state of Philippines but i cant believe that there are really people who do spent time on casinos.It means there are lots of rich people who can
sustain to play on such expensive way of gambling.

A certain country will really make decisions or do alter anytime as they like if they able to see the advantage of it and it may harm the community through addiction
but they are focusing on the revenue/tax.

sheenshane

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Quote from: Dreamchaser21 on January 29, 2019, 08:57:42 AM

Quote from: omonuyak on January 29, 2019, 05:15:37 AM

This is another great developments in the casino's crypto and Philippines regulatory authority has done very well. I believe that in future other governments are going to see good in this and cryptocurrencies will be used all over the world.

I think this is not a crypto casinos but its a traditional gambling. Its good for the Philippines, and it can make a lot of gamblers again. More countries are slowly showing a great support for gambling nowadays, and no doubt that Philippines is one of those countries, I will just enjoy the good ambiance of those casinos.

Yes, that is not a crypto casino, that is a traditional casino. A lot of Filipino politicians people are in a casino every weekend, I knew that because my uncle told me. But it would nice to hear if that casino is accepting cryptocurrencies to use in gambling. So that cryptocurrency and gambling casino were showing up together here in the Philippines. And probably Bitcoin too will be known as well, uh, maybe that is a start to trigger the casino to accept also cryptocurrencies, who knows.

Golftech

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Quote from: goaldigger on January 29, 2019, 09:53:53 AM

Maybe this is another way Philippines can gather tax into knowing that we lack of tax collections because of the train law. This has nithing to do with the administration liking or disliking gambling or whatever. I see it as another way of gathering funds because of the fees. Its a nice news by the way.

It's money matters, who knows after this being built, what comes next, job opportunities, tourist destinations and many more establishments can be started around, though its still gambling that we are dealing with and knowing Filipinos can be easily being attracted, but still we should see other
potentials that will help the country, considering the type of administration now it will gather taxes that will be use properly.

goaldigger

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Maybe this is another way Philippines can gather tax into knowing that we lack of tax collections because of the train law. This has nithing to do with the administration liking or disliking gambling or whatever. I see it as another way of gathering funds because of the fees. Its a nice news by the way.

Dreamchaser21

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Quote from: omonuyak on January 29, 2019, 05:15:37 AM

This is another great developments in the casino's crypto and Philippines regulatory authority has done very well. I believe that in future other governments are going to see good in this and cryptocurrencies will be used all over the world.

I think this is not a crypto casinos but its a traditional gambling. Its good for the Philippines, and it can make a lot of gamblers again. More countries are slowly showing a great support for gambling nowadays, and no doubt that Philippines is one of those countries, I will just enjoy the good ambiance of those casinos.

omonuyak

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This is another great developments in the casino's crypto and Philippines regulatory authority has done very well. I believe that in future other governments are going to see good in this and cryptocurrencies will be used all over the world.

Japinat

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Quote from: Theb on January 28, 2019, 09:52:53 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

Anything that generates income as long as it is legal on their constitution will always receive a green light from the government, the way I see it is they aren't rivaling any countries they are just taking advantage of them being a tourist destination again which grew around 7.65% or 500,000 more tourist despite Boracay being closed for almost the whole year last 2018.

And yes this casino share sell was even made more possible as the owner, Dennis Uy, is known to be one of the closest friends of the current administration which really giving it away. What the news didn't made clear if this sale is a private or public sale as there are no mentions of an IPO happening in the stock market, so I think SEC only approved a sale for private entities.

I didn't know that the casino was own by Dennis Uy, wow. that's why things happened easily.
Dennis Uy is also the owner of the 3rd telco in the Philippines, once you are close to the president, nothing is impossible.
I believe he is also one of the biggest donor of Duterte during the last presidential election.

carlfebz2

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Quote from: peter0425 on January 28, 2019, 08:35:03 PM

Quote from: buwaytress on January 28, 2019, 07:14:38 AM

Business is business and while the industry, in all its shrouds of secrecy, may not do much for the actual economy nationally (at least, not provably nett positive), it still contributes a lot to GDP and revenue for government coffers. We've got no idea how much these statistics help them lobby for even regional say.

It does seem extremely at odds with his previous stances. His regime's all about attacking the root causes of social ills, and there's no grounded Filipino I know who won't point at least one accusing finger at the casino industry.

Exactly, money talks and Philippines being one of the most corrupts country not just in Asia, I wouldn't be surprised by the sudden U-turn of the Duterte administration. It will bring some jobs to locals, but it doesn't mean it will have a positive effect to the whole economy. I'm sure politicians pockets big money here just to lobby the President and get his approval for another Philippine casino.

Advantages would always twinned by disadvantages.If the current administration did approved such thing then they do already saw the possible benefit to them.Lets say they are against with gambling
but on the other side they will surely have the thought on its brighter side.
Even I wont really be surprised if they would u-turn on their decision and would focus to open up casinos on that country.

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Quote from: buwaytress on January 28, 2019, 07:14:38 AM

Business is business and while the industry, in all its shrouds of secrecy, may not do much for the actual economy nationally (at least, not provably nett positive), it still contributes a lot to GDP and revenue for government coffers. We've got no idea how much these statistics help them lobby for even regional say.

It does seem extremely at odds with his previous stances. His regime's all about attacking the root causes of social ills, and there's no grounded Filipino I know who won't point at least one accusing finger at the casino industry.

Exactly, money talks and Philippines being one of the most corrupts country not just in Asia, I wouldn't be surprised by the sudden U-turn of the Duterte administration. It will bring some jobs to locals, but it doesn't mean it will have a positive effect to the whole economy. I'm sure politicians pockets big money here just to lobby the President and get his approval for another Philippine casino.

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Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

Anything that generates income as long as it is legal on their constitution will always receive a green light from the government, the way I see it is they aren't rivaling any countries they are just taking advantage of them being a tourist destination again which grew around 7.65% or 500,000 more tourist despite Boracay being closed for almost the whole year last 2018.

And yes this casino share sell was even made more possible as the owner, Dennis Uy, is known to be one of the closest friends of the current administration which really giving it away. What the news didn't made clear if this sale is a private or public sale as there are no mentions of an IPO happening in the stock market, so I think SEC only approved a sale for private entities.

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Quote from: mirakal on January 28, 2019, 04:33:20 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

If they will contribute for the improvement of the economy then why not.

The president is against gambling but I guess only on illegal gambling, this one is registered and given the green light to expand because they share some of their profits to the government. I don't see anything bad on this, in fact, I applaud the president for making this kind of timely move.

Yes mate the President only looking for the betterment of the economy and the whole country and if those he prohibited can bring this to reality for sure he will grab this opportunity (except illegal drugs Ofcourse)

And beside there are two kind of gambling,the LEgal and the Illegal

This time the administration is using the Legal one to collect Funds for the projects the the government is continuously building

crzy

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Philippines are very welcoming, and in gambling we really like it. This is a fact since you will see a lot of gamblers on any street playing cards and others. Well, casinos attracts tourists and it can really help the econom of the Philippines. Hopefully this casinos will be more highly regulated, so everyone will enjoy a good system.

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Quote from: buwaytress on January 28, 2019, 07:14:38 AM

Business is business and while the industry, in all its shrouds of secrecy, may not do much for the actual economy nationally (at least, not provably nett positive), it still contributes a lot to GDP and revenue for government coffers. We've got no idea how much these statistics help them lobby for even regional say.

I do agree that business is business, with all the companies creating their strategy to earn more, they make ways to profit more in terms that helping the government could help them establish new ways of their business, and especially that they are a gambling industry.

Quote from: buwaytress on January 28, 2019, 07:14:38 AM

It does seem extremely at odds with his previous stances. His regime's all about attacking the root causes of social ills, and there's no grounded Filipino I know who won't point at least one accusing finger at the casino industry.

When there's money, there is power. Behind all the things that we know, we wouldn't find out some of the true reasons with what truly happened unless you are part of the business or something.

markdario112616

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To be honest, Our government seems to be confusing at times. Though, One thing is clear (as far I see) the Government wanted clear out this Gambling oligarchs so that they (Government) can handle the industry, for proper regulation, I think? But like OP said this contradicts P. Duterte's statement in a way. Unlikely, The current admin do have a plan but that plan seems to be unclear especially to us citizens, but in some area or point it do brings good contribution in the growth of the economy. Despite, having a lot critics about our President utter his words, it seems that he has a plan. Well if it's good then, I'll support and if it's bad then... (pray to a God that I don't believe in).

Philippines is still in developing stage, but the fact that our economy is growing and somehow we (I) can feel it. I think the only thing I can do is to believe in what the current admin is doing, I literally don't want to engage in political shizznits but this is just how I feel for now.

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Business is business and while the industry, in all its shrouds of secrecy, may not do much for the actual economy nationally (at least, not provably nett positive), it still contributes a lot to GDP and revenue for government coffers. We've got no idea how much these statistics help them lobby for even regional say.

It does seem extremely at odds with his previous stances. His regime's all about attacking the root causes of social ills, and there's no grounded Filipino I know who won't point at least one accusing finger at the casino industry.

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Quote from: BitBustah on January 26, 2019, 10:15:19 AM

Governments aren't going to say no to easy money. They would rather make these types of businesses legal and generate a lot of new revenue. Prohibition didn't work in the United States back in the day, the best solution is to make it legal and tax the hell out of it.

You are right in general, but not all governments are that advanced. There are still many countries were people suffer because their governments are either too religious or communism-oriented. The Philippines has a democratic government and that's why such things as taking revenues from gambling are possible there. It's a pity that some countries are still living in the past, and I'm glad that the Philippines is not one of them. Having no oil resources they are still doing pretty good, and after becoming new Macau in respect to gambling they will do even better.

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Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

If they will contribute for the improvement of the economy then why not.

The president is against gambling but I guess only on illegal gambling, this one is registered and given the green light to expand because they share some of their profits to the government. I don't see anything bad on this, in fact, I applaud the president for making this kind of timely move.

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Quote from: Baofeng on January 25, 2019, 08:45:07 PM

Anyone from the Philippines aware of this news?

https://uk.finance.yahoo.com/news/philippines-ph-resorts-group-gets-regulatory-nod-350-101521917--sector.html

Quote

MANILA (Reuters) - The Philippine corporate regulator approved PH Resorts Group Holdings Inc's share offering to raise up to 18.5 billion pesos (268 million pounds) to fund the integrated casino builder's projects outside the capital, Manila.

The Philippines is one of Asia's fastest-growing gambling markets, benefiting from the influx of foreign high rollers and restrictive gaming policies in neighbouring countries.

The Securities and Exchange Commission said in a notice issued on Thursday it has given PH Resorts the green light to sell as much as 2.05 billion shares at a maximum price of 9 pesos apiece.

..

Proceeds from the share sale will fund the construction of a $200-million integrated casino-resort in a former U.S. military base north of the capital, and a $300-million megacasino in central Philippines, the company said in a regulatory filing.

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

@nutildah - it will probably near your place. Grin

Philippines is coming up really fast to become the next Business Process Outsourcing hub for the world. India used to be the favorite destination for many onshore companies to start their back end operations and call center and now Philippines has taken up that spot. Even my company has opened up their customer service operations there and sent the Director of Operations to set things up. These changes had started taking shape since last 8 years or so!

I believe they are trying to catch up with the race of globalization and since a majority of their population is young compared to many other Asian countries and also they speak English alongside Tagalog. I see this step as another government initiative to increase the internal employment rate as well as to bring more foreign direct investments to strengthen the economy.

Now if you want to understand how gambling can strengthen and grow the economy of a country, I encourage you to read one of my old threads,

https://bitcointalksearch.org/topic/how-gambling-can-effect-the-economy-of-a-country-part-2-macau-4324507

This thread talks about Macau, one of the classic examples of gambling helping the economy of a country! Philippines is eyeing for the same, I believe!

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Quote from: Baofeng on January 27, 2019, 06:59:12 PM

Quote from: carlisle1 on January 27, 2019, 09:11:45 AM

Quote from: Baofeng on January 27, 2019, 08:21:02 AM

Quote from: NavI_027 on January 26, 2019, 03:07:14 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

And that is my mindset as well when I read the news. I vividly remember him attacking oligarchs in his speech early in his Presidency. And even on his State of the Nation address, he says no to new casino, so this is a unexpected twist. I wouldn't say its a win-win situation here, of course there will be casualties and I'm sure more addicts will emerge. We already have the big 3 in Manila already and some small Pagcor satellites outside, I think this is ok for now.

Same as mine dude i am just confused why the government is always saying about the stand of president duterte regarding eradicating gambling in the Philippines but yet heres a contradiction though i have hear nothing in the news in regards this issue or maybe I missed it,but for me making a legal terms for the Gambling operators specially in taxation will be better as new jobs and opportunities may open for the Filipino

And also there's a news article that I can't find though. It was some Chinese magnate who plans to put another casino but it was shot down by the administration last year. I will try to find that news article and post it here. But I guess the government is looking for other source of funds and revenue that's why they approved this. And that's the only reason that it made sense to me, at least.

There was a big Casino that the government shut down in Boracay Island when it was rehabilitated since last year maybe this is the one you are pointing?because as far as i remember thats the only establishment that almost operational when seized by the administration though i can be wrong about.but you are so right because the Duterte Administration is seriously developing the entire Philippines and should find sources of funds for all of the plans be made before the 6 years presidential terms lapses so letting a Legal Gambling is one best way to earn the funds i guess

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Quote from: carlisle1 on January 27, 2019, 09:11:45 AM

Quote from: Baofeng on January 27, 2019, 08:21:02 AM

Quote from: NavI_027 on January 26, 2019, 03:07:14 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

And that is my mindset as well when I read the news. I vividly remember him attacking oligarchs in his speech early in his Presidency. And even on his State of the Nation address, he says no to new casino, so this is a unexpected twist. I wouldn't say its a win-win situation here, of course there will be casualties and I'm sure more addicts will emerge. We already have the big 3 in Manila already and some small Pagcor satellites outside, I think this is ok for now.

Same as mine dude i am just confused why the government is always saying about the stand of president duterte regarding eradicating gambling in the Philippines but yet heres a contradiction though i have hear nothing in the news in regards this issue or maybe I missed it,but for me making a legal terms for the Gambling operators specially in taxation will be better as new jobs and opportunities may open for the Filipino

And also there's a news article that I can't find though. It was some Chinese magnate who plans to put another casino but it was shot down by the administration last year. I will try to find that news article and post it here. But I guess the government is looking for other source of funds and revenue that's why they approved this. And that's the only reason that it made sense to me, at least.

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Quote from: crwth on January 27, 2019, 06:00:01 PM

What about the The possibility of having a new source of significant funds for the government? I think that's the reason the current administration is allowing it and making it possible. I agree with carlisle1 that it will produce more jobs for the Filipinos and that's a good thing.

Quote from: cabalism13 on January 26, 2019, 10:41:52 PM

Nope, doesn't concern me on that matter, I've already lost my interest in this country.

~snip
Corrupt people will never see those things as illegal as for the OP, they'll just make it Legal. Nothing new, I suppose. What a waste for having a country like this.

I also feel like that in a way, but I don't want to give up in this country. It's hard to be positive when all you can see is negativity, even in the small accounts like DOST, the people there are lazy in a way. I have seen it first hand. I think that's what the government does to you.

I may think also if the President have twisted his mind and think that it could give better life for his countrymen. There is a huge money that they could possibly collected and that will bring his interest on it.
Anyways, it is still not existed and I know how Pres. Duterte manage his people, let's see if there is changes once it is operated.

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What about the The possibility of having a new source of significant funds for the government? I think that's the reason the current administration is allowing it and making it possible. I agree with carlisle1 that it will produce more jobs for the Filipinos and that's a good thing.

Quote from: cabalism13 on January 26, 2019, 10:41:52 PM

Nope, doesn't concern me on that matter, I've already lost my interest in this country.

~snip
Corrupt people will never see those things as illegal as for the OP, they'll just make it Legal. Nothing new, I suppose. What a waste for having a country like this.

I also feel like that in a way, but I don't want to give up in this country. It's hard to be positive when all you can see is negativity, even in the small accounts like DOST, the people there are lazy in a way. I have seen it first hand. I think that's what the government does to you.

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Quote from: Baofeng on January 27, 2019, 08:21:02 AM

Quote from: NavI_027 on January 26, 2019, 03:07:14 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

And that is my mindset as well when I read the news. I vividly remember him attacking oligarchs in his speech early in his Presidency. And even on his State of the Nation address, he says no to new casino, so this is a unexpected twist. I wouldn't say its a win-win situation here, of course there will be casualties and I'm sure more addicts will emerge. We already have the big 3 in Manila already and some small Pagcor satellites outside, I think this is ok for now.

Same as mine dude i am just confused why the government is always saying about the stand of president duterte regarding eradicating gambling in the Philippines but yet heres a contradiction though i have hear nothing in the news in regards this issue or maybe I missed it,but for me making a legal terms for the Gambling operators specially in taxation will be better as new jobs and opportunities may open for the Filipino

Baofeng

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Quote from: NavI_027 on January 26, 2019, 03:07:14 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

And that is my mindset as well when I read the news. I vividly remember him attacking oligarchs in his speech early in his Presidency. And even on his State of the Nation address, he says no to new casino, so this is a unexpected twist. I wouldn't say its a win-win situation here, of course there will be casualties and I'm sure more addicts will emerge. We already have the big 3 in Manila already and some small Pagcor satellites outside, I think this is ok for now.

NavI_027

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Quote from: Johnzky on January 26, 2019, 08:15:13 AM

lets accept that there is no concrete words from this administration as the President itself mostly Lies

C'mmon, do not judge yet because we still don't know the real story behind this. And how do you say that the Duterte administration mostly lies? In fact, our current president is doing a great job to improve the status of our country. Yeah! I know that he sometimes have a bad mouth and sounds braggart in his words which annoys some of you but for me his personality doesn't matter anymore as long as he properly fulfill his responsibilities as a president of our country.

PS: I'm not a dutertard nor dilawan. I'm just reacting based on what I see.

JohnBitCo

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Quote from: rodel caling on January 26, 2019, 09:27:07 AM

That project is very helpful they create more job from the filipino people, and taxes from gambling can help for the economic growth of the country. But the problem some religious group Are against gambling it's possible to protest the project.

Well, Governments has to see all aspects of the society and then they take such steps. They just cannot ignore one voice of the people who are against gambling and keep on going ignoring them.

Quote from: presduterte on January 26, 2019, 09:07:46 AM

Quote from: Johnzky on January 26, 2019, 08:15:13 AM

well lets accept that there is no concrete words from this administration as the President itself mostly Lies

Hey asshole I'd like to see you do a better job. Better watch your mouth or I'll come to your house and plant some shabu on you. You must be one of Trillanes men. Sons of bitches.

Neither we should say any wrong words for the president nor there should be a bad language use while expressing a point of view.

Siren

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Quote from: BitBustah on January 26, 2019, 10:15:19 AM

Governments aren't going to say no to easy money. They would rather make these types of businesses legal and generate a lot of new revenue. Prohibition didn't work in the United States back in the day, the best solution is to make it legal and tax the hell out of it.

For sure this is what the Philippine government original plan since the administration is focusing now on infrastructures the Build Build Build project of The President is taking place now and the Filipino is seeing the brightest future ever had since the regime of the Late president Marcos and this is something that Filipino should be proud of

Quote from: rodel caling on January 26, 2019, 09:27:07 AM

That project is very helpful they create more job from the filipino people, and taxes from gambling can help for the economic growth of the country. But the problem some religious group Are against gambling it's possible to protest the project.

You are perfectly right on this mate,More jobs means better economy this is one of the objectives on this project since Gambling is getting high on demand so why not use this to make the Economy grow again for the betterment of every Filipino

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Nope, doesn't concern me on that matter, I've already lost my interest in this country.

Quote from: BitBustah on January 26, 2019, 10:15:19 AM

Governments aren't going to say no to easy money. They would rather make these types of businesses legal and generate a lot of new revenue. Prohibition didn't work in the United States back in the day, the best solution is to make it legal and tax the hell out of it.

As long as the government of this country can get so many taxes whatever business may that be they will not gonna prohibit it from running. Even if they're contradicting their own rules and regulations, they'll sure put a blind eye into these kinds of matter.

Corrupt people will never see those things as illegal as for the OP, they'll just make it Legal. Nothing new, I suppose. What a waste for having a country like this.

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Quote from: milewilda on January 26, 2019, 10:13:21 AM

Quote from: Jating on January 26, 2019, 01:24:49 AM

.. snip ..

Win-win situation when we do talk about on how to upgrade or do help to lift up PH economy and with this thing it will really surely affect on both sides.I remembered
this current administration do hates gambling but they might able to revert it back due to possible benefits which isnt bad at all.Gambling would only
give out negative effects on a certain person if he wont able to control it out and theres no right for us to blame out the government on letting them operate on such place.

I guess the administration really weigh the pros and cons before giving the go signal. If I'm not mistaken the crackdown was on the "illegal gambling" in the country ordinary people got addicted specially in the rural and poor provinces that's why the effect is really negative. But this time, its gonna be legal and ordinary citizens can't just go there and gamble their small money.

Quote from: BitBustah on January 26, 2019, 10:15:19 AM

Governments aren't going to say no to easy money. They would rather make these types of businesses legal and generate a lot of new revenue. Prohibition didn't work in the United States back in the day, the best solution is to make it legal and tax the hell out of it.

Yes, this is what I'm trying to drive at. I'm sure that the government will put heavy tax on casino operators and generate new revenues, thus driving the economy even better.

BitBustah

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Governments aren't going to say no to easy money. They would rather make these types of businesses legal and generate a lot of new revenue. Prohibition didn't work in the United States back in the day, the best solution is to make it legal and tax the hell out of it.

milewilda

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Quote from: Jating on January 26, 2019, 01:24:49 AM

Why not? Philippines economy is not doing that well as compare to it's neighbor and maybe putting up casino's will help a lot because it will open doors for investors to come in plus a lot of jobs in the horizon.

Duterte's has a lot of controversial decisions in the past, like state extra judicial killings, but this one I would say I agree with him because its a win-win situation for Filipinos.

I remember @avikz opening a thread about the Benefits of gambling? Yes - it exists!. You can also read it because it is related to this topic as well.

Win-win situation when we do talk about on how to upgrade or do help to lift up PH economy and with this thing it will really surely affect on both sides.I remembered
this current administration do hates gambling but they might able to revert it back due to possible benefits which isnt bad at all.Gambling would only
give out negative effects on a certain person if he wont able to control it out and theres no right for us to blame out the government on letting them operate on such place.

Oilacris

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Quote from: ?? on ??

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

@nutildah - it will probably near your place. Grin

Pretty weird. Pampanga / Clark already has tons of casinos and huge hotels that can cost 50,000 pesos a night (~$1,000). Maybe they're hoping to draw business away from them? I've only been to the PAGCOR casino in Balibago, where the locals go. Clark, the old American airbase, is only miles away, but in terms of economies its worlds away.

For the Filipinos here, what's your general take on the whole New Clark City project? Seems like it will take decades to build.

While looking at the funds it may take decades to finish the contract, though i don't know anything about the project yet. The administration seems like to make a new tourist spot i guess or is there a competition happening that the Filipinos didn't know yet.
Doesn't matter as long as it will help the countries economy then it's fine, let them have it.

rodel caling

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That project is very helpful they create more job from the filipino people, and taxes from gambling can help for the economic growth of the country. But the problem some religious group Are against gambling it's possible to protest the project.

jademaxsuy

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The philippine government does not want illegal gambling so more on like they are now targeting those gambling establishment. Some huge casino were even collected a tax from them from their tax evasion from previous administration that were not looking for them and just leave them operating even if they are not paying tax. Probably this is what the present admin wants to have another gambling establishment to compete with other gambling establishment.

presduterte

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Quote from: Johnzky on January 26, 2019, 08:15:13 AM

well lets accept that there is no concrete words from this administration as the President itself mostly Lies

Hey asshole I'd like to see you do a better job. Better watch your mouth or I'll come to your house and plant some shabu on you. You must be one of Trillanes men. Sons of bitches.

Johnzky

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Quote from: ?? on ??

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

@nutildah - it will probably near your place. Grin

Pretty weird. Pampanga / Clark already has tons of casinos and huge hotels that can cost 50,000 pesos a night (~$1,000). Maybe they're hoping to draw business away from them? I've only been to the PAGCOR casino in Balibago, where the locals go. Clark, the old American airbase, is only miles away, but in terms of economies its worlds away.

For the Filipinos here, what's your general take on the whole New Clark City project? Seems like it will take decades to build.

Haven’t been in Roxas and Macapagal boulevard?there are some high end casino and also PAGCOR’s base on that area maybe you should try for much better ambiance mate

Quote from: NavI_027 on January 26, 2019, 03:07:14 AM

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

Absolutely it’s confusing since the last action Philippine government made against gambling is the largest casino that is constructing in Boracay that Stopped by The Government,and now this giant casinos is soon to be build?well lets accept that there is no concrete words from this administration as the President itself mostly Lies

NavI_027

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Activity: 1232

Merit: 186

Quote from: Baofeng on January 25, 2019, 08:45:07 PM

I thought that the current administration doesn't like gambling at all?

Hmm, I get confused too because AFAIK Duterte wnat to eradicate the gambling oligarchs in our country. But as we look deeper, business is business. It's very hard to let go the opportunity (such as employment and revenues) that gambling industry can offer especially that our country is not yet fully developed. That's why I understand if Duterte choose to let them pass. I just hope the gambling industry here will not grow as big as in Macau or Las Vegas because it will surely influenced my fellow men and I think the outcome will be worse.

Jating

hero member

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Why not? Philippines economy is not doing that well as compare to it's neighbor and maybe putting up casino's will help a lot because it will open doors for investors to come in plus a lot of jobs in the horizon.

Duterte's has a lot of controversial decisions in the past, like state extra judicial killings, but this one I would say I agree with him because its a win-win situation for Filipinos.

I remember @avikz opening a thread about the Benefits of gambling? Yes - it exists!. You can also read it because it is related to this topic as well.

Baofeng

legendary

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Merit: 1655

Anyone from the Philippines aware of this news?

https://uk.finance.yahoo.com/news/philippines-ph-resorts-group-gets-regulatory-nod-350-101521917--sector.html

Quote

MANILA (Reuters) - The Philippine corporate regulator approved PH Resorts Group Holdings Inc's share offering to raise up to 18.5 billion pesos (268 million pounds) to fund the integrated casino builder's projects outside the capital, Manila.

The Philippines is one of Asia's fastest-growing gambling markets, benefiting from the influx of foreign high rollers and restrictive gaming policies in neighbouring countries.

The Securities and Exchange Commission said in a notice issued on Thursday it has given PH Resorts the green light to sell as much as 2.05 billion shares at a maximum price of 9 pesos apiece.

..

Proceeds from the share sale will fund the construction of a $200-million integrated casino-resort in a former U.S. military base north of the capital, and a $300-million megacasino in central Philippines, the company said in a regulatory filing.

I thought that the current administration doesn't like gambling at all? Or are they contradicting themselves and trying to bring Philippines to rival its neigbor Macau?

@nutildah - it will probably near your place. Grin

Topic: Philippines' PH Resorts Group gets regulatory nod for $350 million share offerin (Read 569 times)