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The Tom Waterhouse-led arm of the British betting giant reported that its H1 profits slumped by 85 per cent to just $1.1 million when compared with the same period last year, despite the increase in betting volume.
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President Duterte is known for his antagonistic relationship with casino and resort operators in his country. He thinks gambling has a “deleterious effect” on society and that it should be reduced to the “barest minimum”. When he took office 2016, he coordinated a brutal clampdown on underground gambling. He also changed the country’s casino and gaming regulator’s directive. He directed the Philippines Amusement and Gaming Corporation (PAGCOR) to transition into a regulator only body by selling off its land-based casinos.
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Pincus stepped down from his role, as Zynga continued to fail at monetising its social games. The company had laid off hundreds of employees and withdrew plenty of games – but still struggled to recover. Don Mattrick was brought in as CEO to help turn things around, as he helped gaming ventures like Electronic Arts and XBOX thrive.
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At Mainland Foundation, CEO Nick Kouloubrakis is considered to be ‘overpaid’, as well as seven other members of staff. According to reports, the directors and committee members earn more than $117 000 a year, while Mr Kouloubrakis is likely to earn much more. Over the years, Mainland has donated $3.1 million, so its directors’ salaries are certainly eating into a significant portion of potential funding.
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