Philippine-based junket Dowinn Group has opened at least a few of its previously shuttered VIP gaming rooms, allegedly backed by a new group of investors, sources have told Inside Asian Gaming.
It is understood that the group’s rooms at three properties – Okada Manila, City of Dreams Manila and Clark’s Royce Hotel and Casino – were open for business as of Friday afternoon, almost a month to the day since all of Dowinn’s Philippines operations were suddenly shut down amid rumours that liquidity had dried up.
As reported by IAG at the time, information from sources suggested that the company’s liquidity issues became apparent when some agents were unsuccessful in trying to withdraw funds from Dowinn accounts at Okada Manila and Solaire. It was also claimed that many of Dowinn’s management had fled the country within hours of the situation emerging.
According to information gathered by IAG in recent days, the reopened Dowinn VIP rooms remain barren of customers, with the company said to be focused first on hiring new staff given the mass exodus experienced over the past month. While only a handful of the group’s locations are officially open, it is understood that some other rooms appeared to have activity taking place inside on Friday. IAG understands the reopening has been made possible by new investors, who are said to be Korean.
Unnamed Dowinn Group representatives previously described the closure of all operations as an “emergency temporary cease of operation” to “protect the valuable interests of our customers and shareholders”. It also blamed the closure on “unjust external attacks and slander” – allegedly a reference to reports by a Korean media outlet claiming Dowinn was on the verge of collapse.
Dowinn had until last month’s events operated the casino at Manila’s Heritage Hotel and Casino and VIP rooms at Okada Manila, Solaire Resort Entertainment City, City of Dreams Manila, D’Heights Resort and Casino, and Royce Hotel and Casino.
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