The Philippines has officially been removed from the Financial Action Task Force (FATF) grey list, paving the way for unrestricted international investment in its casino industry. This development, confirmed on February 23, 2025, comes after years of enhancing anti-money laundering (AML) and counter-terrorist financing (CFT) regulations, particularly in sectors like gaming, which were under scrutiny.
Casino operators and investors in Entertainment City, Clark, and Cebu can now secure international funding more easily, avoiding the increased due diligence requirements imposed on grey-listed countries. Experts predict a surge in foreign partnerships, as the Philippines cements its status as one of Asia’s most attractive gaming markets.
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In a statement, Alejandro Tengco, the Chairman and CEO of Philippine gaming regulator PAGCOR, said, “We are honored to have played a crucial part in this development, and the public can rest assured that PAGCOR will continue to ensure that all our licensees are compliant with all anti-money laundering rules and regulations”.
Remaining on the FATF grey list are Turkey, UAE, South Africa, and Nigeria, which still face strict financial oversight. The Philippines’ removal is expected to boost gaming revenues, enhance regulatory confidence, and accelerate ongoing casino expansion projects.
