OKBet recently announced that it will stop operating all casinos in the Philippines from August 8. There are rumors that this move may be related to the Singapore prosecutor's crackdown on gambling money laundering, but OKBet has denied this.
OKBet said in a statement that it would settle accounts of Philippine casino customers before the end of August, but did not specify the reasons.
According to reports, this operation may be related to the recent seizure of more than 100 billion US dollars in laundered assets by Singapore prosecutors.However, OKBet quickly issued a statement stating that the shutdown was a business decision and had nothing to do with legal issues in any jurisdiction.
OKBet claims to always follow the highest compliance standards and provide quality services.This closure is a carefully considered business decision.
There are reports that industry insiders in the Philippines also confirmed that OKBet suddenly requested to cease operations due to financial problems.
Industry analysts pointed out that OKBet may indeed be facing capital chain problems.However, the agency’s sudden closure of all casinos in the Philippines is confusing.Some people believe that OKBet needs to give a more adequate explanation to avoid unnecessary negative impact on its reputation.
