Philippines gaming services provider PhilWeb says it has received approval from gaming regulator Pagcor to provide its gaming systems to 16 Pagcor-licensed sites.
In a filing to the Philippine Stock Exchange, PhilWeb said it was on the verge of a long-awaited return to full operations “as an Electronic Gaming System Service Provider to the first 16 Pagcor-licensed gaming sites for electronic games, subject to inspection and testing by Pagcor.”
It follows an eventful 15 months that began with Philippine President Rodrigo Duterte refusing to renew its license to provide gambling services to eGames cafés in August 2016, labelling PhilWeb owner Roberto Ongpin an “oligarch” in the process.
Ongpin subsequently sold his 53.75% stake in the company to current Chairman, Gregorio Araneta III.
PhilWeb was informed in August of this year that its license would likely be renewed under the ownership of Araneta III. It also revealed a new corporate logo it said reflected the company’s “renewal” under the leadership of Araneta III.
