Gambler Captured, Held Hostage due to Outstanding Debt to Loan Sharks at Okada Manila Casino
A gambler, indebted to loan sharks due to his gambling addiction, found himself in a predicament when he couldn't repay his debt. Consequently, a group of five Chinese individuals nabbed him and confined him temporarily within a room at the Okada Manila casino, as reported by the Philippine newspaper Inquirer.
The intention behind their action remains unclear as per the authorities. Upon leaving the casino, they led the unnamed man towards an unknown destination. A guard intervened when the man signaled for help at the casino exit, halting the group's plans.
The man was allegedly in debt to the tune of PHP500,000 (US$9,090).
Kidnapping Incidents increased in 2022
Despite a decrease in overall reported cases, there was a rise in kidnappings associated with the Philippine Offshore Gaming Operator (POGO) in 2022.
A total of 31 kidnappings were recorded during the first nine months of 2022, compared to 36 in the same period the year before. Of these, 17 were POGO-related, an increase of five compared to 2021. The victims included 19 Chinese individuals, as well as people from Vietnam and Taiwan. In most of these cases, Chinese criminal gangs were implicated.
The Philippine Amusement and Gaming Corporation (PAGCOR), the governing body for gambling in the Philippines and the operator of the country's state-run casinos, maintained that none of the licensed POGOs were responsible for these criminal activities. Instead, they either lost their licenses or chose to relinquish them voluntarily.
Efforts to abolish the POGO industry persisted due to its connection with criminal activity.
Casino Earnings on the Uptrend
The earnings from gambling in the Philippines have been on an upward trajectory, with the lifting of travel restrictions due to COVID-19 enabling increased international traffic throughout Asia.
The casino sector in the Philippines observed continued growth during the fourth quarter of last year, generating around PHP56.01 billion (US$1.02 billion) in gross gaming revenue (GGR). This represented a 13.5% increase compared to the previous quarter and a staggering 96.2% surge from the same period in the previous year.
The total handling of the segment hit nearly PHP184.00 billion (US$3.34 billion). This figure represented a 90.6% growth in comparison to the same period in 2021.
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