The government is looking further into a company advertising the launching of a cryptocurrency online gambling in Palau, at the same time cautioning the public against a possible online scam.
Press Secretary Olkeriil Kazuo was responding about the proliferation of online articles regarding a certain RA Entertainment Inc., claiming it has adopted “blockchain” ideas to traditional gambling and chose the “Palau World complex as a launching pad.”
In the article, the Palau World is described “a deluxe casino and hotel resort that will soon open on Ngerekebesang Hamlet – an island in the state of Koror, Palau.” The article stated that the casino and hotel would open late 2018 or early 2019.
But Kazuo said the company “have no registrations with the Foreign Investment Board.”
He also reiterated that gambling is illegal in Palau. “Appropriate inquiries are being made with the companies and we expect to get responses.”
The general public is advised to take caution when interacting with these companies online, as they may be fraudulent scams.
RA Entertainment claims it is offering visitors of Palau “superior benefits during their stay” via what they call “ RAcoin.”
It also stated that even before the grand opening of the Palau World complex, the company will integrate RAcoin into a number of top European gambling services. It will also run as an alternative payment method on racasino.pw.
A move to revive casino gambling in Palau was rejected in 2015.
In a national referendum in 2010, majority of Palau citizens voted against a casino, with 3,349 (75.5 percent) voting “No” to the proposal and 1,085 voting “Yes”.
Before the referendum, proposals to establish casino gaming in Palau had also been rejected.
President Tommy Remengesau Jr. first vetoed a casino bill in 2003. In 2009, former president Johnson Toribiong also vetoed a casino bill. (Bernadette H. Carreon)