Imperial Pacific International has filed an appeal before the Superior Court over the Commonwealth Casino Commissions indefinite suspension of IPI’s gaming license.
In April, the CCC ordered the suspension after it found the IPI unable to comply with orders to pay a $6.6 million penalty, along with a $15.5 million annual casino exclusive license fee and $3.1 million annual casino regulatory fee prompted the move from the regulator.
CCC’s C. DeLeon Guerrero said the suspension, which began on May 10, will last until IPI settles its arrears.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.