Inside Asian Gaming has heard from multiple credible sources that leading Philippines junket operator Dowinn Group has collapsed.
According to people familiar with the matter, Dowinn has ceased activity across all of its casino and VIP Club operations, and has withdrawn its managers. It has also been claimed that many of those managers have already left the country, in most instances to return home to South Korea. IAG understands there is a run on Dowinn accounts, but liquidity has dried up in multiple Dowinn locations, with no funds available.
Dowinn had operated VIP rooms in leading Manila integrated resorts Okada, Solaire and City of Dreams and at D’Heights and Royce in Clark. It also operated out of various smaller hotels and casinos across the country, ran its own casino in Rizal Park and in late 2023 launched casino operations at Manila’s The Heritage Hotel. IAG has checked the Dowinn Casino website (www.dowinncasinos.com) multiple times today and at the time of publishing it is down.
Dowinn was also named last year as Strategic Alliance Partner of billionaire Filipino businessman Manuel Villar Jr in developing and running two casinos in Las Piñas, in the southern part of Metro Manila.
Sources claim the issue came to light when agents working with Dowinn tried to access funds from the company’s accounts at Okada Manila and at Solaire but were unable to do so.
One source described the situation to IAG as “the complete collapse of the company”.
It remains unclear what impact the situation will have on Dowinn’s casino partners, with one operator telling IAG that they had no information and were also waiting for updates. The operator confirmed that all gaming activity in Dowinn’s junket rooms had ceased.
On its social media platforms, Dowinn said it first entered the Philippines market in 2013 via a partnership with Midas Hotel and Casino in Clark and has since expanded its focus across the country. The company, it states, has “more than 15 years of experience in the gaming industry with a large database of players, particularly in the Korean and Southeast Asian regions.”
IAG continues to look into the matter and will provide further information as it comes to hand.
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