OKBet Online Casino, headquartered in Hong Kong, had VIP rooms in several Philippines integrated resorts like Okada Manila, Newport World Resorts, City of Dreams Manila, Hann Casino Resort, and NUSTAR. Players were reportedly rushing to withdraw funds from OKBet VIP rooms in Manila before the closure.
The company didn't specify reasons for the shutdown, but there's speculation it's linked to the recent arrest of 10 individuals in Singapore for alleged forgery, money laundering, and resisting arrest. The Singapore Police Force made these arrests based on information about illicit activities, including suspected use of forged documents to justify the source of funds in Singapore bank accounts.
The arrested group consists of foreign nationals involved in organized crime activities such as scams and online gambling. They possess over SG$1 billion in combined assets, including properties, vehicles, bank accounts, and valuable items. The individuals detained include Chinese, Cambodian, Cypriot, Turkish, and Vanuatu nationals.
While there are claims that one of those detained is a top executive from OKBet, this connection hasn't been confirmed. The Singapore Police Force and Philippines gaming regulator PAGCOR are both being consulted on the matter.
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Disclaimer: The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.
