Two Chinese-Centric Casinos Exit Philippines on Virus, Taxes (1)

June 29, 2020, 4:23 AM UTC

Two online casino operators that cater mostly to Chinese clients are exiting the Philippines, and more will likely follow suit due to virus curbs and taxes, the Philippine gaming agency said. Casino and property stocks fell.

More than 5,000 employees, mostly foreign nationals, will lose their jobs after Don Tences Asian Services Solutions and SC World Development Group Ltd. asked that their licenses be canceled, said Philippine Amusement and Gaming Corp. Assistant Vice President Jose Tria.

“There are more to come. We are doing our best to convince them to stay,” Tria said in a mobile-phone message.

In May: ...





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