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Pagcor Reacts to new Philippines President
PAGCOR REACTS QUICKLY TO PRESIDENTIAL MORATORIUM ON INTERNET GAMBLING (Update)
Online gambling licensing put on hold in the Philippines... but investors show their concern.
The newly elected president of the Philippines, Rodrigo Duterte, made headlines earlier this week with a Cabinet brief on the many areas of government where he intends to crack down hard - including online gambling , and it took less than 48 hours for the effects to manifest themselves.
The newly appointed chairperson of the Philippine Amusement and Gaming Corp (Pagcor), Andrea Domingo, put the brakes on any further licence issues, saying:
"For now, we will freeze the issuance of licences for these types of games, and then review what the president said."
During the tenure of Dutertes predecessor, Benigno Aquino, government statisticians claim, the number of e-bingo machines rose to 12,000 from 2,160 on his appointment mid-2010. In the same period Internet gambling terminals rose to 7,000 from 4,662, and e-gaming cafes reached 277 from 190.
Dutertes presidential outburst against online gambling, which he threatened to ban altogether, created consternation amongst investors, too; Reuters reports that on Friday shares in gaming operator PhilWeb Corp declined 32 percent to their lowest in nearly 14 months. The firm operated 277 e-games outlets and 8,977 gaming terminals catering to over 90,000 members as at March-end, the news agency noted.
And Leisure & Resorts World Corp, which develops, operates and conducts internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport, also felt some pain as shares 8.9 percent to a five-month low.
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VLeague and Mojo Games partner up -
#Alisports B2B multi-gaming platform and social games provider Mojo Games has partnered with VLeague Internet Technology to provide online social games and poker tournaments to Asian sports giant Alibaba Sports Group (AliSports).
SBTech In SportsBook Deal With Winmasters -
#SBTech #Winmasters has already achieved significant market share in the Romanian regulated market and is now targeting a number of other EU countries with national regulatory regimes.
Life of Riches Slot Launching -
The company released a preview of its "Life of Riches" slot Friday, a 5 reel, 30 selectable pay-lines game with a theme featuring luxury cars, expensive yachts, private jets and a liberal sprinkling of glitterati.
Land Casino Bill Passes in Japan -
A bi-partisan side meeting of leading lawmakers led to Komeito Secretary General Yoshihisa Inoue agreeing that his party would not protest the vote in the House of Representatives Cabinet committee Friday afternoon.
easyPLAY Launches Online Slot Tournaments -
#easyPLAY Las Vegas land casino giant MGM Resorts is more effectively leveraging its on-premises mobile gaming services by expanding the availability of its easyPLAY online casino tournaments throughout the state of Nevada.
Jetsetter slot Pays 130 Bitcoin WIn -
#bitcoin Prague-based online slot developer Endorphina reports that its Jetsetter slot on the Bitcasino.io site has just delivered a major hit for an anonymous player.
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