Fri, Jul 26, 7:50am by Staff Writer
Australian-listed Frontier Capital Group says it will recommence casino operations at the former Casablanca Casino in the Philippines’ Clark Freeport Zone this Sunday.
Asgam is reporting that the rebranded FortuneGate Casino held a soft opening on June 10 with gaming regulator PAGCOR having since confirmed its compliance to their satisfaction.
In an announcement on Tuesday, FCG also said that the Southeast Asian casino investor FortuneGate Holdings Philippines Inc had been appointed to manage the casino on what it describes as “customary commercial terms”.
It added that the casino has been renamed FortuneGate Casino to capitalize on FortuneGate’s Southeast Asian market presence.
“The company is pleased to have passed all hurdles and reinstated operations of the casino at Stotsenberg Hotel,” FCG Chairman Henri Ho said.
“We look forward to our official launch on July 28 and to working with FortuneGate, who have a well-established track record in profitable casino operations,” he said.
FCG acquired the hotel in 2016, but was forced to close Casablanca Casino in February 2017 after PAGCOR ordered a 225 million Philippines peso escrow payment.
FCG completed a takeover of Hotel Stotsenberg in 2016 for A$26 million in a deal that included an A$25 million profit guarantee over five years from the operator of the hotel and gaming business, E!xcite Gaming and Entertainment.
However, the company was forced to close operations and in a filing with the Australian Securities Exchange in March said that it had secured the necessary funds to satisfy PAGCOR requirements to reopen Casablanca Casino, a move it described as “imminent.”
— Asia Casino Gaming (@AsiaCasinoGamin) June 4, 2019
The Four Seasons Macau is becoming a hot bed of criminal activity, with the Judiciary Police announcing two robbers have taken $382,000 in chips after a stunning May 24 morning raid.
Calvin Ayre reported in May that a croupier and a security guard were incapacitated by the robbers’ pepper spray and left the resort, who reported the crime to officials at 5.30am.
A force spokesman said officers went to the hotel after a call from a casino security worker.
He said it seemed “a security guard at the exit of the casino and a croupier inside the entertainment venue were attacked with pepper spray.”
In January last year, a debt ridden croupier stole HK$48 million worth of chips from a gambling table in the VIP lounge of a casino at Wynn Macau.
He instructed a female colleague not to make any noise before running out of the casino and fleeing on a motorcycle.
Two days later, the 49-year-old man and a male relative were arrested in connection with the robbery – one of the largest ever in the city.
The shocking robbery comes just two days after police met with the security department of the Venetian Macau resort hotel, the Sands China property connected to the Four Seasons Macau – and the local casino regulator, the Gaming Inspection and Coordination Bureau.
The purpose of the meeting was to coordinate faster response times to any major incident.
It didn’t appear to do much good in this case however.
Four men were recently stabbed outside the Four Seasons, and a report that casino related crime is up 14 per cent in Macau does little to paint a positive picture for the region.
When that report came out, the police stressed that the increase in crime would not affect the average Macau resident, as the increase is specific to the casino industry.
They likely didn’t expect an attack so brazen as the one on the morning of May 24 to help stoke fears further.
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