Not so fast, Philweb!

Philweb’s notification earlier this week that it had finally achieved accreditation as an electronic gaming service provider (see previous  report) has been followed by a “clarification” from regulator Pagcor that the company does not have permission to resume operations until Pagcor has “procured the third party audit service provider for electronic games.”

PhilWeb’s accreditation was signed by Pagcor chair and CEO Andrea Domingo on October 30, 2017, but the regulator’s statement this week notes that all accredited electronic games providers – including Philweb – will have to await Pagcor’s go ahead before commencing operations.

The third party audit service or Electronic Management Gaming System (EMGS) provider – which is still under procurement – will oversee the compliance of all gaming service providers, and ensure the veracity of information provided by licensees and operators with regard to player registrations, player account controls, player funds, reporting, audit, among others, the Pagcor statement explained.

“With the EGMS in place, Pagcor can be assured that all its electronic gaming licensees and operators are not only properly regulated but also accurately remit what is due to the government,” a spokesman advised.

Related and similar