Recently, OKBet Infinity, the popular Philippine junket operator that operates VIP rooms in Newport World Resorts, Okada Manila, Hann Casino Resort, NUSTAR and City of Dreams Manila, confirmed that it has shut down all of its Philippines VIP rooms. The company unveiled the surprising announcement, confirming that it is in effect as of August 8, 2023.
However, amid media reports claiming that the closures were related to people that were arrested over alleged money laundering, OKBet released a new statement. Earlier this week, the company rejected claims that the 10 people, arrested in Singapore over money laundering and forgery, were related to the closures.
Media reports said that at least one of the people that was involved in the crimes was a “top official from OKBet.” The company disagreed with that statement and explained that the closures of its Philippines VIP rooms were “purely business driven.”
The Singapore Police Force said that it acted based on intelligence that included Suspicious Transaction Reports (STRs) which resulted in identifying a group of individuals that was believed to be involved in financial crimes such as money laundering. The law enforcement outlined that the group was suspected of laundering illegally obtained funds from criminal activities, including online gambling and scams.
Besides confirming that the decision to close its operations in the Philippines was a business one, the company reiterated that the closure isn’t tied in any way to the legal matter in Singapore. OKBet said its VIP rooms were committed to integrity and adhering to the established regulations. Additionally, the company highlighted that its clubs have been renowned for the unique luxurious experiences they offer to their visitors.
“The statement aims to clarify that the closure is not related to any legal issues in Singapore or any other specific jurisdiction. Throughout its operations, OKBet VIP Club has maintained a commitment to the highest standards of legal compliance and operational integrity,“
reads a statement released by OKBet Infinity In its initial statement, OKBet said that its board of directors decided to cease operations. The company pointed out that its members will be allowed to withdraw their funds without interruptions.