Philippine gaming regulator PAGCOR has clarified that it has no direct relationship with the junket operations of the troubled Dowinn Group. This statement comes amid growing concerns that the Dowinn Group, a major player in the Philippine casino industry, has collapsed. Reports indicate that agents have been unable to withdraw funds, and some Dowinn managers have reportedly fled overseas.
Dowinn responded with a statement describing the situation as an “emergency temporary cease of operation” to “protect the valuable interests of our customers and shareholders,” promising to reopen all branches on Monday, June 24.
PAGCOR confirmed it had been informed by Dowinn Group about the temporary cessation of operations at GoldwinnPhil Inc. in Dowinn Casino Heritage, according to Inside Asian Gaming. This move is described as being “for the protection of their players and employees.” PAGCOR also noted that Dowinn plans to resume operations on Monday but emphasized it has “no direct relationship with Dowinn” regarding its junket operations, which are agreements made directly between Dowinn and PAGCOR licensees.
Dowinn Group had been operating VIP rooms at prominent integrated resorts such as Okada Manila, Solaire Resort Entertainment City, City of Dreams Manila, and at D’Heights Resort and Casino and Royce Hotel and Casino in Clark. PAGCOR expressed hope that Dowinn will resolve its business concerns quickly.
The Complete Collapse of The Company
Earlier this week multiple sources quoted by Inside Asian Gaming suggested that Dowinn Group has completely halted operations at its casinos and VIP clubs, withdrawing its management teams. Many managers are believed to have returned to South Korea. Reports indicate a rush on Dowinn accounts, with liquidity issues leaving numerous locations without available funds. Furthermore, the Dowinn website (www.dowinncasinos.com) has been offline since the reports emerged.
The collapse surfaced when Dowinn agents attempted to withdraw funds from accounts at Okada Manila and Solaire but were unsuccessful. A source described the situation as “the complete collapse of the company.”
Dowinn Group entered the Philippine market in 2013 through a partnership with Midas Hotel and Casino in Clark. Over the years, the company expanded significantly, managing VIP rooms at major Manila resorts and various smaller hotels and casinos nationwide. The company also operated its own casino in Rizal Park and began casino operations at The Heritage Hotel in Manila in late 2023. Last year, Dowinn was identified as a Strategic Alliance Partner of billionaire Filipino businessman Manuel Villar Jr. in the development and management of two casinos in Las Piñas, southern Metro Manila.
Dowinn has stated on its social media profiles that it has “more than 15 years of experience in the gaming industry with a substantial database of players, especially from the Korean and Southeast Asian regions.” The company’s sudden collapse leaves a significant void in the Philippine gaming industry, and stakeholders are keenly watching how the situation will unfold.
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