![]() ![]() ![]() did not comply with its obligations under its license agreement.”ĬEZA authorized FCDLC to establish and develop a smart city and industrial park, an international airport, generation and distribution facilities for power, water or other public utilities and residential complexes or township within the Cagayan ecozone, all in connection with the development, operation and conduct of interactive gaming facilities and land-based casino enterprises and facilities.įCDLC was granted a 25-year license in 2019 to operate an online casino inside the Freeport. ![]() “Upon the conclusion of the audit and evaluation that was conducted on all licensees and registered enterprises engaged in interactive gaming activities, we found that Foremost Cagayan Development and Leisure Corp. “We are constrained to terminate the license agreement effective immediately on the ground that the same is grossly disadvantageous to CEZA,” Escano said in a letter to FCDLC president Chan Wa Fai. (FCDLC) after an evaluation showed it is “grossly disadvantageous” to the government and it failed to deliver on its investment commitments.ĬEZA administrator and CEO Jaime Escano terminated the FCDLC license after three years. MANILA, Philippines - The Cagayan Economic Zone Authority (CEZA) has cancelled the 25-year license agreement with Foremost Cagayan Development and Leisure Corp. ![]()
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