Philippine President’s Anti-online Gambling Stance Puts 5,000 PhilWeb Jobs in Jeopardy

President Rodrigo Duterte’s vow to stop online gambling in the Philippines has placed 5,000 people at risk of losing their jobs. And that’s just with PhilWeb alone.

Dennis Valdes, president of the Philippine-based gaming technology provider, broke his silence over the weekend with a warning that shutting down the publicly-listed firm would cost the government at least PHP2.1 billion (USD44.68 million) in royalty fees that PhilWeb pays the Philippine Amusement and Gaming Corporation (Pagcor).

To date, the private firm—which operates 286 e-Games outlets—has remitted PHP14 billion (USD297.9 million) to Pagcor and paid over PHP280 million (USD5.96 million) in corporate income tax, VAT and other taxes, Valdes said in a filing with the Philippine Stock Exchange.

PhilWeb’s temporary license is set to expire on August 10, and if the firm’s contract with Pagcor is canceled or not renewed, the company’s license to operate will automatically come to an end and PhilWeb will “shut down all operations.”