Philippine online gaming industry still unsure where it stands

Online gambling technology provider PhilWeb’s hopes of acquiring a new gaming license in the Philippines have hit a major snag.

On Tuesday, PhilWeb filed papers with the Philippine stock exchange revealing that the Philippine Amusement and Gaming Corporation (PAGCOR) had informed PhilWeb that the company will have to compete for the right to provide gambling technology at PAGCOR-licensed eGames cafes.

Until this summer, PhilWeb supplied technology to hundreds of eGames cafes, which offer internet-connected terminals providing online casino products for local residents. Then newly elected Philippine President Rodrigo Duterte declared “online gambling must stop,” leading to PAGCOR declining to renew PhilWeb’s gaming license.

PhilWeb went into a death spiral that was only halted when chairman Roberto Ongpin agreed to sell his entire stake in the company, leading to hopes that PhilWeb would have its license renewed under different management.