{"id":21650,"date":"2021-08-17T12:33:16","date_gmt":"2021-08-17T15:33:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21650"},"modified":"2026-04-23T16:34:30","modified_gmt":"2026-04-23T19:34:30","slug":"pagcor-to-investigate-suncity-over-client-deposits","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-to-investigate-suncity-over-client-deposits","title":{"rendered":"PAGCOR to investigate Suncity over client deposits"},"content":{"rendered":"\n

PAGCOR will investigate Suncity Group over claims the company failed to return some player deposits.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Andrea Domingo<\/strong>, PAGCOR chairman and CEO, has announced she will set up an investigative committee to look into the casino junket investor\u00a0Suncity Group Holdings<\/strong> due to allegations that it failed to return clients’ deposits when they requested funds<\/strong>.<\/p>\n\n\n\n

There have been claims that Suncity may have invested some of the funds elsewhere without permission. Domingo told The Philippine Daily Inquirer the investigative committee will be headed by Arnold Salvosa<\/strong>, the legal department\u2019s assistant vice president.<\/p>\n\n\n\n

Suncity Group answered the allegations through a full-page ad in local media arguing\u00a0it was committed to returning cash deposits made to the firm<\/strong>. However,\u00a0Alvin Chau Cheok Wa<\/strong>, CEO of Suncity, said it was difficult to release the entirety of the placements at once due to the company’s financial situation.<\/p>\n\n\n\n

In March,\u00a0the casino junket investor<\/a>\u00a0predicted\u00a0a profit attributable to shareholders<\/strong>\u00a0of approximately RMB750.4m (US$115.3m) for 2020. The announcement came despite a\u00a067 per cent drop in revenue for the year due to the financial impact of the Covid-19 pandemic.<\/strong><\/p>\n\n\n\n

In June,\u00a0Suncity<\/a>\u00a0launched a voluntary exit scheme for employees. The so-called\u00a0\u201cPersonal Career Reshaping Plan\u201d\u00a0<\/strong>offered benefits such as extra allowances for employees over 60 years old. The plan included a\u00a0partial payout of social security contributions<\/strong>, an extension of medical insurance coverage, and career planning support services.<\/p>\n\n\n\n

At the time, Chau said: \u201cFor the company\u2019s sustainable development, it is necessary to change the strategy,\u00a0optimize the organizational structure<\/strong>, retain the core business, and respond to changes in the market environment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

PAGCOR will investigate Suncity Group over claims the company failed to return some player deposits.<\/p>\n","protected":false},"author":176,"featured_media":21660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR is initiating an investigation into Suncity Group Holdings following allegations that the casino junket investor failed to return player deposits and potentially misused funds. Andrea Domingo, PAGCOR's chairman and CEO, confirmed the probe, which Suncity CEO Alvin Chau attributed to the company's current financial situation despite a recent profit forecast.","focusai_entities":"PAGCOR, Suncity Group Holdings, Andrea Domingo, Arnold Salvosa, Alvin Chau Cheok Wa","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Suncity's Financial Health?","query":"What is the detailed financial impact of these allegations on Suncity Group's balance sheet and its ability to meet future obligations, particularly given its recent profit forecast amidst revenue decline?"},{"label":"PAGCOR's Enforcement Scope?","query":"What specific regulatory powers and enforcement mechanisms will PAGCOR utilize in this investigation, and what precedents might this set for oversight of junket operations and player fund protection in the Philippines?"}],"footnotes":""},"categories":[158,16333],"tags":[405,1427],"class_list":["post-21650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slider-home","category-south-east-asia-news","tag-pagcor","tag-suncity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=21650"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21650\/revisions"}],"predecessor-version":[{"id":21678,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21650\/revisions\/21678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}