Pagcor Closes Down Casino Due to Unpaid Debts

The Philippine Amusement and Gaming Corporation (Pagcor) recently revoked the casino operation license of Legend International Resorts Ltd. (LIRL), the Subic Freeport's first entertainment and gambling facility, for failing to settle monetary obligations of as much as P365,730,165 (~ $7,000,705) with the government regulatory agency.

Carlos Bautista, senior managing head for corporate and legal affairs of Pagcor, was reported as saying that, although the agency had given the casino enough time to settle its debt, the gaming company never did. In response to Bautista's claims, Khoo Boo Boon, chief executive officer of Legend International, denied that the casino owed any money to Pagcor.

Boon also said that the company would file charges against all Pagcor employees who barged into the casino to enforce the casino’s closure order. According to Boon, the casino's closure was sending the wrong message to the global gaming industry about doing business in the Philippines. Nevertheless, Bautista reportedly insisted that the closure order was valid.

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