Daily Asia Gaming eBrief: Philippines exits FATF grey list, boosting gaming investments
Asia Gaming Brief
Asia Gaming Brief is a news, events and networking company focused on Asia Pacific’s rapidly expanding gaming industry.
Good morning. Off from the grey zone. The Financial Action Task Force (FATF) announced that the Philippines is no longer under increased monitoring, recognizing the country’s significant progress in enhancing its anti-money laundering and counter-terrorism financing (AML/CFT) regime. The removal from the grey list marks an important achievement and will boost investor confidence, but the regulatory landscape will likely remain unchanged, a legal expert told AGB. Things are also looking better for Sands China investors, as the Macau gaming operator announced its first dividend in five years, representing a total dividend payout of $260 million.
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PHILIPPINES
Regulatory landscape remains steady despite Philippines’ FATF grey list exit
The Philippines’ removal from the Financial Action Task Force (FATF) grey list marks a significant achievement, enhancing the country’s reputation as a secure market for gaming investments, according to Tonet Quiogue, a legal expert. While this milestone is expected to boost investor confidence, particularly among foreign operators hesitant due to the previous grey list status, Quiogue noted that the regulatory landscape will remain unchanged as the Philippine Amusement and Gaming Corporation (PAGCOR) has already implemented stringent anti-money laundering (AML) protocols.
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