Thursday, August 18, 2022

Philweb gets nod to offer EGS services, subject to inspection


E-games software supplier Philweb disclosed on Monday that it has received a letter from the Philippine Amusement and Gaming Corporation (PAGCOR) that allows it to offer its services to the first 16 PAGCOR-licensed gaming sites for electronic games.

The company made the announcement in a filing to the Philippine Stock Exchange, adding that it is subject to inspection and testing by PAGCOR.

In late October, Philweb announced it has received the Certificate of Accreditation from PAGCOR as an EGS service provider, which allows the company to offer its software and other services to the operators of PAGCOR-licensed gaming sites for electronic games.

A week later, PAGCOR clarified that the accreditation alone did not grant Philweb permission to resume operations. The egames operator would still need to first procure a third party audit service provider for electronic games.

“The third party audit service or Electronic Management Gaming System (EMGS) provider – which is still in the process of procurement – will oversee the compliance of all gaming service providers. More importantly, the EGMS will ensure the veracity of information provided by licensees and operators with regard to player registrations, player account controls, player funds, reporting, audit, among others,” wrote PAGCOR in an announcement.

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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