Government Will Not Renew Philweb License for Online Gaming

The Philippine Amusement and Gaming Corporation (PAGCOR) said that it would not renew nor extend the license of online gaming firm Philweb when it ends on August 10. Philweb has attracted attention after President Rodrigo Duterte said he wants to put an end to online gaming and later taking aim at Roberto Ongpin, the former Philweb chairman who the president accused of being an oligarch. Philweb’s stock has dropped by 79% over a…

Subscribe via email for complete access to Supreme Consult’s weekly report on political and investment risks in the Philippines.

Advertisements