Junket Operators Exit PH As AMLC Probes ₱200M Ransom Laundered Through Crypto and Casino Wallets

By: bitpinas|2025/05/16 11:00:12
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The two junket operators linked to the Anson Que kidnapping-slay case have ceased operations in Philippine casinos as the Anti-Money Laundering Council (AMLC) deepens its investigation into the alleged laundering of ₱200 million in ransom money through casino-linked e-wallets and cryptocurrency. Junket Operators Cease PH Operations The AMLC confirmed that both 9 Dynasty Group and White Horse Club officially ended their operations in most, if not all, local casinos as of May 7, 2025. Junket operators act as intermediaries that function as a combination of travel agency, VIP concierge, and a semi-banking institution to casino players. Notably, in a separate statement released on May 6, 9 Dynasty Group, also known as Jiuding Group, also confirmed its exit from the Philippine market. Despite their departure, the AMLC emphasized that as a government agency, it will continue pursuing forfeiture actions and gathering evidence related to the ransom’s conversion and dispersal. Junket operators are businesses that cater to high-rolling gamblers by arranging their visits to casinos, typically providing perks such as travel, lodging, and gaming credit. Serving as middlemen between casinos and affluent, often international, clients, they earn commissions based on the amount their players wager. Accordingly, licensed casino giants Solaire, Okada Manila, and Resorts World are also reportedly cutting ties with these junket operators. Money Trail Investigation In a media release , the AMLC stated that it is coordinating with the Philippine National Police (PNP), the Philippine Amusement and Gaming Corporation, and casino operators to trace the illicit financial flows related to the kidnapping of businessman Anson Que. Authorities say the ransom, originally paid in pesos and U.S. dollars, was converted to cryptocurrency to obscure its trail. According to the PNP, the two junket firms allegedly facilitated the laundering process using e-wallets designed for casino use, shell accounts, and digital assets. Casino patrons tied to these junkets reportedly received portions of the ransom money via these e-wallets, further complicating the transaction chain. The probe also scrutinized the unauthorized use of e-wallets with cryptocurrency features, with the AMLC working in tandem with the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission to address regulatory concerns. In addition, the AMLC is coordinating with foreign financial intelligence units to track the international flow of funds linked to the ransom case. Anson Que Case On April 9, 2025, Chinese Filipino businessman Anson Que and his driver Armanie Pabillo were abducted and found dead in Rodriguez, Rizal, despite a reported ₱200 million ransom payment. Recently, Philippine authorities investigating the case discovered ₱4.5 million in cryptocurrency ransom money was transferred through unlicensed e-wallets linked to the two casino junket operators and then moved through virtual asset service providers. This led to subpoenas for two local crypto exchanges. The PNP highlighted the difficulty in tracing cryptocurrency transactions compared to traditional kidnapping cases. Following Que’s killing, questions arose about whether the PNP could enlist $USDT issuer Tether’s assistance in tracing and recovering the ransom. In a BitPinas article, it was discussed that Tether can technically freeze $USDT linked to illegal activities through blockchain-level intervention, typically following legal or regulatory directives, despite the stablecoin operating on a decentralized network. As the issuer and controller, Tether has this authority and has collaborated with over 235 law enforcement agencies globally to freeze over $2.5 billion in $USDT related to various illicit activities, including terrorism, human trafficking, and money laundering. This article is published on BitPinas: Junket Operators Exit PH As AMLC Probes ₱200M Ransom Laundered Through Crypto and Casino Wallets What else is happening in Crypto Philippines and beyond?

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On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
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The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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