The Philippine Amusement and Gaming Corporation has released a clarification announcement regarding the recent Certificate of Accreditation which was granted to e-games operator Philweb Corporation.
Philweb Corp on Monday announced it had received a Certificate of Accreditation from the Philippine Amusement and Gaming Corporation (PAGCOR) as an electronic gaming system (EGS) provider to licensed electronic gaming sites.
The regulator on Friday however clarified that the accreditation alone does not grant Philweb the permission to resume its operations. The egames operator will 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.
“With the EGMS in place, PAGCOR can be assured that all its electronic gaming licensees and operators are not only properly regulated but also accurately remit what is due to the government.”
“Philweb, as well as other accredited electronic games providers, have to wait for PAGCOR’s Notice to Proceed before they can commence operations,” it said.
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