International edition
June 21, 2021

Company still waiting for Pagcor notice to operate

PhilWeb confident about big 2018 comeback

PhilWeb confident about big 2018 comeback
Back in August, the Pagcor agency commanded by Andrea Domingo issued the EGS license to firm.
Philippines | 09/29/2017

Confident that its business will be backed by the Philippine Amusement and Gaming Corp (Pagcor), Philweb hopes to be able to resume operations as early as the fourth quarter of the year.

F

ollowing a stakeholders meeting earlier this week, now owner of the company Gregorio Araneta III said operators are expecting PhilWeb’s comeback.

Meanwhile, PhilWeb President Dennis Valdes talked to the press expressing confidence the gaming firm will be running again “once we get the new contract from Pagcor.”

“I remain confident that perhaps we can do so by the fourth quarter of the year,” Valdes said.

“We have made new investments, bought new servers with investment of over P100 million for these servers. We’ve acquired six new sites using two million shares of our 350 million treasury shares,” Valdes said

PhilWeb has already been granted a provisional certificate of accreditation as an electronic gaming system (EGS) service provider by Pagcor but it still has to receive a notice to operate.

Last year, PhilWeb was forced to shut down after its license expired on August 10. The company was then commanded by Roberto Ongpin. Founder and former controller stockholder Ongpin later sold a major stake to Araneta.

Yogonet.com
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