Tuesday 16 October
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Dec 1, 2017 @ 14:05

A brand new start: PhilWeb gets green light to resume operations

 

PhilWeb Corp. has received the go-signal from the Philippine Amusement and Gaming Corp. to serve as an electronic gaming system provider to licensed electronic gaming sites.

In a stock exchange filing, PhilWeb said it was allowed to offer services to the first 16 Pagcor-licensed gaming sites for electronic games, subject to inspection and testing by the state-run gambling agency.

In order to be able to operate again, PhilWeb was required to seek a third party audit service provider which will oversee the compliance of all gaming service providers.

According to Pagcor, the EGMS will ensure the veracity of information provided by licensees and operators with regard to player registrations, player account controls, player funds, reporting, audit, among others,” said Pagcor in a statement.

The approval comes more than a year after Pagcor suspended PhilWeb’s gaming privileges after the listed gaming firm’s previous owner caught the ire of President Duterte.

Former trade minister Roberto V. Ongpin, whom Duterte described as “an oligarch he wanted to destroy” has since sold his majority stake to businessman Gregorio “Greggy” Araneta III.

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