Philippines approves new casino

Philippines authorities have allowed the installation of new gaming venue.

Philippines.- The Parañaque City Council, located in the Philippines islands, has allowed Landing International Development Limited to install a new casino. According to the official reporters, the international gaming company is now able to invest and operate an integrated resort after leasing 9.5 hectares of land earlier this month.

In a filing to the Hong Kong Stock Exchange, Landing said that Parañaque City Council “has, among others, passed the resolution approving and granting the request of Landing Resorts Philippines Development Corporation (Landing Philippines) to operate a resort and a casino in the Entertainment City in Barangay Tambo, City of Parañaque, the Philippines.”

Casino industry in the Philippines is under the spotlight as the Governance Commission for Government-owned and Controlled Corporations (GOCCs) said that it recommends the separation of commercial and regulatory functions of the Philippine Amusement and Gaming Corp (PAGCOR).

It is expected that the commission will work closely with the Philippine Competition Commission (PCC), the National Economic Development Authority (NEDA), the Department of Justice (DOJ), and the Department of Trade and Industry (DTI) to review the mandates of GOCCs and recommend the privatisation or transfer of regulatory functions to a proper government agency.