PhilWeb secures PAGCOR approval to extend operations

Online gaming firm PhilWeb Corp. on Monday announced it had secured the necessary approval from the Philippine Amusement and Gaming Corp. (PAGCOR) to operate for at least a month more, pending actions on directives from President Rodrigo Duterte to end online gambling in the country.

According to a July 8 letter from Acting PAGCOR Chairperson Andrea Domingo, which PhilWeb disclosed on the local bourse, the gaming company was granted an extension of its intellectual property license agreement (IPLMA).

“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 due to expire on July 11 is granted and hereby extended from July 11 until August 10,” Domingo said in the letter.

PhilWeb had earlier requested that its contract with PAGCOR be extended on a short-term basis until it could clarify issues from the president's directive.

Duterte had said during a his Cabinet's first meeting that online gambling had to be stopped. — Jon Viktor D. Cabuenas/DVM, GMA News