Chau, who the regulator also added to its blacklist, remains behind bars in a Macau prison. He is awaiting trial on a number of crimes, including money laundering, illegal gambling, and more. The trial will begin in September.<\/p>\n
Going forward, casino operators will need to take more seriously their scrutiny of three key areas as they relate to junkets. Reputation, honesty, and integrity comprise a single area. Competence and capability related to experience and educational background are in the second. Finally, \u201cother qualifications\u201d fall into the third category.<\/p>\n
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Under the heading of \u201creputation, honesty, and integrity,\u201d licensed casinos will have to determine if key individuals within the junket\u2019s hierarchy have a criminal record. Notably, any convictions for \u201cdishonesty, fraud, breach of trust, money laundering, terrorist financing, proliferation financing, theft, or financial crimes\u201d are cause for concern.<\/p>\n<\/div>\n
The section on \u201cCompetence and Capability\u201d refers to whether those individuals have received adequate training that correlates to the jobs they hold. In addition, those persons must show that they are capable of performing the responsibilities associated with their job descriptions.<\/p>\n
The last category, \u201cFinancial Soundness,\u201d addresses a review of any previous bankruptcy filings on the part of the individual. In addition, casinos will need to find out if there is any outstanding debt or court-ordered judgment. That applies not only to records in the Philippines but everywhere in the world.<\/p>\n
Establishing guidelines is one thing; enforcing them is another. Suncity operated freely for decades, even as some regulators questioned the company\u2019s legitimacy<\/a>. The onus is on the casino operators to ensure junkets play by the rules. However, PAGCOR still has to ensure the casino operators do the same.<\/p>\n","protected":false},"excerpt":{"rendered":"Following the Suncity Group debacle that brought the casino junket sector to its knees, regulators in several regions began tightening their controls. The Philippines was among them, but the Philippine Amusement and Gaming Corp (PAGCOR) is turning the screws even more. PAGCOR is introducing new rules for junkets in the country. It is placing greater […]<\/p>\n","protected":false},"author":64,"featured_media":220973,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13592],"tags":[],"acf":[],"yoast_head":"\n
Philippines Casino Operators to Put a Leash on Junkets - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n