A Korean gambler had been participating in Manila casino gambling time where he won on four separate occasions therefore accumulating nearly $2.1 million. As he tried to cash out his chips is denied receiving his money. According to reports, Yun Kwan-byung was going against an agreement between the Philippine casino operator and the Korean corporation by gambling at such a facility. The high court’s song though reason to overturn the ruling and that the Korean gambling player without his $2 million.
The time frame in question took place between 1996 and 1997 when the Korean gambling player attended the casinos under a highrolling program agreement. currently in the Philippines there is only one agency that is allowed to operate gambling casinos and that is, PAGCOR. The Philippine Amusement and Gaming Corporation run the entire facilities throughout the Philippines and has complete control over gambling in the area.
The program that Yun was involved in was created to attract high rollers and foreigners to the gambling market in the Philippines. Specifically the Casino Filipino Silahis in Manila has been targeted casino where he gambled for that duration. The agreement that was settled by the courts and through PAGCOR states that the ABS Corp. was awful for paying out all fees and winnings to the foreign gamblers.
At this time, Yun has tried to sue PAGCOR over the winnings, however since they are not responsible for court cases have been dismissed. Yun has now taken this case to the courts to get back his gambling money on numerous occasions starting in 2003, 2004 and currently. The courts have so far stated that Yun was gambling under an illegal agreement between PAGCOR and ABS and therefore has dismissed his case once again. The agreement that is under discussion currently has been examined by the courts and found that PAGCOR was not able to go into a contract with third party companies such as ABS. since this was an illegal contract, Yun is not expected to get back his $2.1 million in gambling earnings.
