The Philippine Amusement and Gaming Corporation (PAGCOR) has responded to recent developments involving Dowinn Group, a prominent casino and junket operator in the Philippines.
Current Situation
According to a statement provided to Inside Asian Gaming (IAG), PAGCOR clarified its relationship with Dowinn Group, emphasizing that it does not have a direct operational link with Dowinn’s junket activities. This distinction is crucial, as junket operations are managed under agreements directly negotiated between Dowinn and PAGCOR’s licensed operators.
Details of Dowinn’s Operations
Dowinn Group, well-established in the Philippine casino industry, operates VIP rooms across several key locations including Okada Manila, Solaire Resort Entertainment City, and City of Dreams Manila. Additionally, they have a presence at D’Heights Resort and Casino and Royce Hotel and Casino in Clark.
Recent Developments
Recent events have raised concerns about Dowinn Group’s financial stability. Reports suggest that Dowinn has halted its operations temporarily, citing an “emergency temporary cease of operation” aimed at safeguarding customer and shareholder interests. This move has led to speculation about the company’s financial health, compounded by reports of agents struggling to access funds and alleged managerial departures abroad.
PAGCOR’s Response
PAGCOR has been kept informed of these developments by Dowinn Group, particularly regarding the temporary cessation of junket operations by GoldwinnPhil. Inc. at Dowinn Casino Heritage. The regulator acknowledged Dowinn’s communication about their intent to resume operations imminently, which is scheduled for the upcoming Monday.
Regulatory Oversight and Concerns
While PAGCOR maintains a regulatory oversight role, it clarifies that it does not directly manage or oversee the operational aspects of junket agreements between Dowinn and its licensed operators. This regulatory distinction underscores PAGCOR’s role in ensuring compliance and transparency within the Philippine gaming sector.
PAGCOR expressed hope for a swift resolution to Dowinn Group’s business concerns, emphasizing the importance of protecting players’ interests and maintaining stability within the gaming industry. The regulator’s stance reflects its commitment to maintaining operational integrity and transparency amidst evolving challenges within the sector.