Philippines

It is being speculated that e-gaming operator Philweb Corp. may have its eGaming licenses reinstated under direction from Philippine president Rodrigo Duterte.

The Philippines House of Representatives has launched a congressional inquiry into the operation of illegal cockfight betting in the country.

Online gaming stations in the Philippines that are not running on PhilWeb Corp.’s systems are able to continue operations, but are under tight supervision, local media cited the local regulator as saying.

The Philippines government has begun the process of privatizing the casinos of Philippine Amusement and Gaming Corp. (Pagcor), which is expected to be completed by September 2017.

Okada Manila will likely open with fewer than 500 tables, said CLSA analyst Marcus Liu at a conference in Macau on Wednesday.

Total gross gaming revenue in the Philippines jumped 11.2 percent in Q3, led by higher revenue from casinos in Entertainment City.

Okada Manila is planning to hire around 8,000 people for its first phase of operation, which is set to open next month.

Philweb Corp., an operator of e-gaming cafes in the Philippines, reported a net loss of P5.4 million (US$109,700) in 16Q3, down from a net profit of P206.1 million in the prior year period.

Philippines-listed Bloomberry Resorts Corp posted an all-time record in gross gaming and non-gaming revenues as well as EBITDA for the first nine months of 2016, helped by cost controls and a jump in Q3 VIP revenue.

Philweb Corp. chairman Gregorio Araneta III says he hopes to secure a license from Philippine Amusement and Gaming Corp. (Pagcor) before year end.

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