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Philweb gets one-month extension

Philippine-based Philweb has been granted a one-month extension by the Philippine Amusement and Gaming Corporation (Pagcor) to continue to operate e-Games cafes across the country.

The extension was confirmed by a letter from the gaming regulator on Monday. The company’s current license was due to expire on July 11, 2016.

The letter, dated on July 8 said the extension will only be until August 10, 2016.

“This has reference to your request dated July 8, 2016, for extension of Philweb IPLMA contract with PAGCOR on a month-to-month basis or other short term basis until the presentation regarding Philweb can be provided to the President and his directive regarding online gambling can be clarified,” wrote Pagcor chairperson Andrea Domingo.

“In the exigency of the service and in order to prevent loss of revenue to the government, please be informed that the request for extension of the PhilWeb IPLMA contract is granted and hereby extended … until August 10, 2016.”

Earlier in the month, shares of gaming operator PhilWeb Corp. declined nearly 32 percent to their lowest in 14 months following Duterte’s pronouncement against online gambling.

At around the same time, Pagcor announced it was temporarily halting the processing of all online gambling license applications.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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