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PHILWEB SEEKS VOLUNTARY SUSPENSION OF TRADING

Monday July 4,2016 :  PHILWEB SEEKS VOLUNTARY SUSPENSION OF TRADING
 
With a share price plunging as a result of president Rodrigo Dutertes diatribe against online gambling,  online gambling firm asks for a three day hiatus.
 
The Philippine online gambling group PhilWeb Corp., reeling from a more than 22 percent plunge in its share price, thanks to anti-online gambling comments from the new president of the country (see previous InfoPowa reports), has asked the Philippine Stock Exchange for a voluntary three-day suspension in trading on its shares.
 
“In view of unverified material information affecting the business of PhilWeb Corporation that will materially affect the investing public, we hereby request for a trading suspension in PhilWeb shares from 4 July 2016 to 6 July 2016,”  Raymund S. Aquino, PhilWeb corporate information officer, said in a letter to the Philippine Stock Exchange Monday.
 
InfoPowa readers will recall that on the presidents orders, online licensor Philippine Amusement and Gaming Corporation has placed a moratorium on the issue of any licenses....and Philwebs contract with PAGCOR expires on July 11 this year.
 
PhilWeb currently operates a network of 268 PAGCOR e-Games cafes with a total of 8,839 gaming terminals nationwide.
 
The company is also concerned that the rapid decline in its stock price could impact its plan to raise P6 billion through the sale of Treasury shares, which may also be in danger following the presidents declarations and directives
 
Last month, PhilWeb announced it would make a private placement of up to 300 million shares at a discount to market but in no case less than P20 per share.
 
“The private placement will result in PhilWeb receiving cash and receivables of at least P6 billion. With this war chest, the company will have the ability to go on an aggressive expansion program,” PhilWeb said.
 
The 300 million shares is equivalent to a near 20 percent stake in the company, local observers have noted.

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Gambling News :

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Club’s application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.

Lost Vegas Slot Launches - “Lost Vegas” is a new release on Microgaming’s October roster, a five-reel 243-payline game that offers punters the option to play in either Survivor or Zombie mode throughout the base game, a choice that affects the symbols and bonus games on offer.

Leap Gaming Partners With Pala Interactive - Israeli-based developer Leap Gaming has clinched its second deal in a week, this with Pala Interactive for the integration of its virtual sports turnkey product to Pala’s white-label social gaming platform.

Sportech Racing Partners With Macau Jockey Club - Sportech Racing and Digital has partnered Macau Jockey Club (MJC) for the provision of a white-label digital pari-mutuel betting platform and other retail solutions.

Bla Bla Bla Studios - Under the terms of the deal Bla Bla Bla Studios will develop and distribute exclusive gaming content for integration into the Quickfire platform.

Betser Powered By SBTech - #Betser is inspired by fantasy football, private betting leagues and social betting. The offer includes a twin-track loyalty scheme devised by Malta-based Hero Gaming, who operate Casino Heroes.

EveryMatrix has appointed Glen Bullen as Sales Manager - Bullen assumes responsibility for the entire casino sales operation, particularly focusing on growing distribution of the newly-updated and expanded CasinoEngine platform into Tier One operators.

Freemasons Fortune Slot Launches - Booming Games has launched Freemasons Fortune, a new 3-reel, nine-payline game inspired by the enigmatic Freemasons fraternal order.

Hollywood Classic Slots launches - Penn Interactive has launched Hollywood Classic Slots, a social casino game developed in collaboration with its recently acquired social gaming company Rocket Games.

Pagcor relents on 20 venues - In an announcement to the local stock exchange Monday, the company revealed that 20 of its 36 e-bingo revocations have been lifted, enabling operations to continue.

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