OKBet VIP Club, which this week suddenly shut down its Philippines junket operations, has denied reports that the move was in any way linked to the arrest of 10 people in Singapore for alleged money laundering linked to online gambling.
As reported by IAG, OKBet issued a statement earlier in the week announcing that it was ceasing all operations in the Philippines, including its VIP Clubs at Okada Manila, Newport World Resorts, City of Dreams Manila, Hann Casino Resort and NUSTAR, as of 15 August 2023 and was making arrangements to settle patron accounts by the end of the month.
It did not provide any reasons for the closure, however IAG was made aware of allegations that the closure may be linked to the Singapore arrests, where police had seized more than SG$1 billion in assets.
In a separate statement issued in the wake of these reports, OKBet denied any such links and said the decision to close was purely a business choice.
“The statement aims to clarify that the closure is not related to any legal issues in Singapore or any other specific jurisdiction,” it said.
“Throughout its operations, OKBet VIP Club has maintained a commitment to the highest standards of legal compliance and operational integrity. The club has been a staple of the international gaming and hospitality scene, renowned for providing a luxurious and exclusive experience to its patrons. It is essential to approach the situation with a clear understanding that business decisions of this magnitude are often made after careful consideration and assessment.”
Philippines operators contacted by IAG this week said they were told only that the sudden closure of VIP rooms across the country was due to financial concerns.
