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Pagcor Will Not Renew PhilWeb License

Tuesday August 9,2016 : PAGCOR SAYS NO TO PHILWEB CONTRACT RENEWAL (Update)

Listed company faces closure, thousands may lose jobs.
 
Gaming technology provider PhilWeb took a massive punch Monday as news broke that the gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) will not renew the company’s 5-year intellectual property license agreement (IPLA) which expired July 11, but was extended to August 10, 2016.

The development evolved following an intensive anti-online gambling and anti-oligarchy campaign driven by Philippine president Rodrigo Duterte which resulted in the resignations of Robert Ongpin as PhilWeb chairman and director along with his daughter Anna Bettina Ongpin as vice chairman and a director .

The listed company said closure would be its only option following the loss of the IPLA, and as a consequence job losses would affect around 5000 people and see the shutdown of around 286 e-games outlets, unless the regulator could be convinced to reconsider its decision.

Dennis Valdes, president of PhilWeb, told Bloomberg he believes [President] Duterte may have been misinformed on the nature of PhilWeb’s business.

“Thus, we are seeking a meeting with Pagcor chairman Andrea Domingo so that we may fully explain our side,” Valdes explained.

“PhilWeb is merely a software provider to Pagcor for its network of e-Games outlets. We are not online gaming. Our software cannot be played from homes or offices.

“Each e-Games outlet is owned by an individual entrepreneur whose gaming license is issued by Pagcor directly to them.

“As a publicly listed company on the Philippine Stock Exchange, our records are fully open to public scrutiny and are available for a full investigation at any time”.



Gambling News :

Box 24 Launches 3 New Slots - This week sees the addition of 3 New Games at Box24 Casino. Check them out they all seem pretty interesting.

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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