OKBet VIP Club has decided to cease operations in the Philippines on August 15, 2023, the company announced in a statement.
The premier junket, known for its opulent facilities and world-class services, operated across several prominent locations including OKADA Manila, Okura Manila, HANN in Clark, and City of Dreams Manila (COD).
The closure is not one without rumors, with various reports circulating about the potential reasons behind the decision. Among these speculations, issues like money laundering and regulatory troubles have been brought up by some unreliable sources, the company said.
In response to these reports, the management of OKBet VIP Club asserts that the decision is a purely business-driven choice, made by the board of directors and management at their discretion.
“The statement aims to clarify that the closure is not related to any legal issues in Singapore or any other specific jurisdiction,” it said.
“Throughout its operations, OKBet VIP Club has maintained a commitment to the highest standards of legal compliance and operational integrity. The club has been a staple of the international gaming and hospitality scene, renowned for providing a luxurious and exclusive experience to its patrons. It is essential to approach the situation with a clear understanding that business decisions of this magnitude are often made after careful consideration and assessment.”
The club’s management has also expressed their commitment to ensuring absolute clarity and transparency regarding this matter. They have addressed the misinformation that has been circulating in certain media reports.
By directly addressing these claims, they aim to dispel any unwarranted concerns and provide accurate information to the public and their loyal clientele.
OKBet VIP Club’s legacy will undoubtedly leave a mark on the industry, and its patrons will remember the exclusive experiences it provided over the course of their operations.