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Philweb Shares Climb 50 Percent
SOME RELIEF FOR PHILWEB SHARES (Update)
But Pagcor is adamant on licensing ban.
Shares in the embattled Philippines online gambling company Philweb received a fillip Thursday, climbing a remarkable 50 percent (albeit from a low base) following more positive comments from the national president on the previous day.
President Rodrigo Duterte appeared to moderate his hard-line stance against online gambling by saying that as long as operators paid taxes and stayed away from churches and schools in their marketing and positioning, he may permit them to operate.
Philweb president Dennis Valdes immediately reiterated his earlier statement that the company plans to approach Pagcor with an application for its expired licence to be renewed.
On Thursday PhilWeb shares matched the biggest intra-day gain, recorded on February 24, 2005, but were still down 65 percent year-to-date as the market exhibited fears based on uncertainty.
The positive news was however diluted when Pagcor chief Andrea Domingo again emphasised that online gambling operations powered by Philweb will remain shut and that no new licenses will be issued.
However, Domingo added: "We will look at the propriety and legality of transferring their station to a service provider similar to PhilWeb...[but at present]...I will not allow that. We will warn them that they cannot switch because the President does not like it."
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Winamax Poker Launches Dealers Choice Games -
The Dealer's Choice in poker format is not a new concept, but Winamax enlivened the French online poker scene by introducing it last week, taking advantage of looser game restrictions by the French regulator ARJEL.
Limited Gambling To Be Allowed in Bermuda -
After two years of discussion senators in the self-governing British overseas territory of Bermuda finally approved the Casino Gaming Amendment Act 2016 last week, ushering in a potentially more liberal and practical approach to gambling in the Caribbean island nation.
Jack Lam on the Run -
"Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei,” she said, observing that there was no record of any return to the Philippines since his departure.
Golden Jungle Slot -
IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.
South Africa Going After Illegal Gambling -
In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.
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