DigiPlus, one of the Philippines’ biggest online gaming firms, has reportedly paused plans to acquire a physical casino, after identifying a potential location and entering into negotiation phases. Sources say that the deal came under pressure due to rising legislative and regulatory uncertainty—particularly amid recent proposals to ban or harshly regulate the online gambling sector.
The Corona Resort & Casino in Phu Quoc has reported a deepening financial loss in the first half of 2025, according to its promoter, Phu Quoc Tourism Development & Investment JSC. The company posted a loss of VND 564 billion (about US$21 million), up sharply from a VND 332-billion loss during the same period in 2024. Cumulatively, the firm's losses are now at VND 5.5 trillion (~US$208 million) as of June 30, underlining the magnitude of challenges the operator is facing.
Singapore is entering what many are calling a golden stretch for live entertainment. With multiple music festivals and headline concerts already announced, the stage is set for some of the biggest performances in recent years. This flurry of activity comes just ahead of the 2025 Formula One Singapore Grand Prix, which in itself is gearing up to be much more than a motorsport event. As noted by The Straits Times, three music festivals plus the F1 spectacle will jointly fill September and October with live-music energy.
Macau casino operator SJM Holdings Ltd. has had its long-term issuer default rating outlook changed from Stable to Negative by Fitch Ratings, though its rating at ‘BB-’ has been reaffirmed. The revision reflects what Fitch describes as “heightened uncertainty” around the company’s deleveraging efforts. Specifically, Fitch projects that SJM’s EBITDA leverage will rise above 8× in 2025, up from about 7× in the previous year, with a goal of bringing leverage down to under 5× by 2027.
A newly intensifying corruption scandal in the Philippines is drawing in casinos, government officials, and anti-money laundering authorities. Senator Panfilo Lacson has alleged that several former officials of the Department of Public Works and Highways (DPWH) lost around PHP 950 million (≈ US$16.6 million) in casinos across Metro Manila, Cebu, and Pampanga. The suspicion is that these gambling losses are not just losses, but part of a more complex scheme involving money laundering, where ill-gotten funds from anomalous flood control projects are being funneled through casinos to disguise their origin. The Philippine Anti-Money Laundering Council (AMLC) has confirmed that it will probe the casinos mentioned in connection with the case.
Author: Janice Chew • Monday, 15/09/2025
