At the press conference promoting G2E Asia @ the Philippines in Manila on Tuesday, 8 October 2019, Domingo said she didn’t want the cessation of Cambodian online gaming licenses to see operators simply move their business operations to the Philippines instead.
The Philippines will be hosting one of the most highly anticipated gambling exhibitions later this year, a move that positions the country to be the top gaming destination in the region.
From Kuala Lumpur, the lantern carrying the flame will be brought to the Philippines, kicking off the torch run activities to be held in various parts of the country, namely in Davao City, Cebu City and Clark.
Domingo welcomed the event of G2E Asia to the Philippines, and noted that its arrival in the Philippines helps the country towards its goal of being one of the “biggest centers for gaming and entertainment in this part of the world.”
Duterte said he would not “particularize” any one nation, but said “there are foreigners who come here to play their trade, lending money and if the debtor cannot pay, they kidnap and sometimes they ask for ransom.” Duterte added that he “will not hesitate even to tell your ambassador I killed your idiot citizen because he was f****** in my country … To me you are just another carcass.”
Philippines Finance Secretary Carlos Dominguez wants the main tax agency to shut down and file cases against online gaming operators that haven’t paid their dues.
Philippine police have arrested more than 270 Chinese nationals in a raid on a gang wanted over a vast investment fraud that cost victims in China millions of dollars.
Philippines President Rodrigo Duterte said that while he was not a fan of online gambling he was unwilling to ban the business, as China has called for, because of the harm that would do to the country’s economy.
After Philippine President Rodrigo Duterte’s high stake meeting with President Xi Jinping, market experts expected that Philippine property stocks may perform on the uptrend.
Philippine stocks plunged nearly 2% on Aug 27 to three-month closing lows, dragged by property stocks on fears the government may halt online gambling, while Indonesian shares rose on optimism about government stimulus.