MACAU BUSINESS


(FATF) due to issues with junket operators and the lack of prosecutions and investigations into money laundering and terrorist financing. In June 2021, the Paris-based FATF re- included the Philippines in the grey list following the country’s failure in a mutual evaluation conducted by the Asia Pacific Group on Money Laundering.


During the latest evaluation, the body pinpointed 18 deficiencies in the Philippines’ efforts to combat money laundering, terrorist financing, and proliferation financing. According to the update in January this year, eight of these deficiencies remain unresolved. The Philippines’ new president, Ferdinand “Bongbong” Marcos, has ordered the country’s Anti-Money Laundering Council (AMLC) and concerned agencies to implement measures to exit the grey list by October of this year. It was precisely this issue addressed by Fredric Gushin, an industry veteran and CEO of Spectrum Gaming Group, in a keynote speech at the event.


Gushing warned that international pressure to further regulate the online gaming industry will continue to grow, in Asia and beyond. “Online gaming is fine when it’s regulated, but the offshore version is controversial. It


Alejandro H. Tengco, Chairman and CED, Philippine Amusement and Gaming Corporation (PAGCOR)


Sec. Katrina Ponce Enrile, Administrator and CEO of the Cagayan Economic Zone Authority


32 MAY 2024


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76