The Philippine Amusement and Gaming Corporation (PAGCOR) has clarified to AGB that World Platinum Technologies Inc. (WPT) lost its Gaming System Administrator (GSA) accreditation in April, raising questions over whether Century Entertainment International Holdings’ Philippine gaming venture continued operating through WPT after the required accreditation had been canceled.
The issue covers a period in which Century Entertainment reported at least HK$45 million ($5.7 million) in unaudited net winnings before tax from the venture between April and June.
In a clarification sent to AGB, PAGCOR said: ‘World Platinum Technologies Inc. is no longer an accredited Gaming System Administrator (GSA) of PAGCOR, as its GSA accreditation has already been cancelled in April 2026.’
According to information obtained by AGB, the accreditation was canceled due to violations of PAGCOR regulations. The nature of the violations has not been disclosed.
PAGCOR did not provide the exact date in April when the cancellation took effect. AGB was therefore unable to establish whether it occurred before or after Century Entertainment’s Philippine gaming operation formally began that month. The company’s filings also do not state whether or when it became aware of the cancellation.
Filings continued to describe WPT as accredited
Century Entertainment and WPT established Konphil Technology Company Limited under a joint venture agreement signed in June 2025. Century Entertainment holds 51 percent of the venture, while WPT owns the remaining 49 percent.
Under revised arrangements disclosed in October 2025 and restated in an April 2026 filing, Century Entertainment no longer planned to issue shares to WPT as consideration for the right to use its platform. Instead, the company agreed to pay WPT a fixed annual licensing fee of $500,000.
Separately, under the Phase IV operating model, Konphil would develop the gaming applications and retain 85 percent of net winnings. WPT would receive the remaining 15 percent as a fee for platform hosting, infrastructure and compliance services.
In an April 2nd filing, Century Entertainment said the Phase IV business was intended exclusively for the Philippine market. The filing described WPT as a PAGCOR-accredited GSA responsible for compliance covering games hosted on its platform.
It also said WPT hosted the games on its ‘PAGCOR regulated platforms’ and assumed the associated regulatory, legal and compliance risks.
Century Entertainment subsequently said in a June 25th filing that Konphil had signed a game deployment agreement with WPT on April 2nd and that operations formally began that month.
The June filing again described WPT as a ‘PAGCOR-accredited service provider’ and referred to its platform as licensed and GLI-certified. The company said 27 games had been deployed through the platform and across seven Gaming Venue Operators in Parañaque, Calamba, Laguna, Bulacan and Nueva Ecija.
Century Entertainment also stated that it did not hold a direct PAGCOR license. The filing did not mention the cancellation of WPT’s accreditation.
According to the same filing, WPT entered into a HK$100 million ($12.7 million) revenue guarantee agreement with Konphil on May 30th, covering a 15-month period from July 2025.
Online business tied to trading resumption
The questions over WPT’s accreditation arise as Century Entertainment works to resume trading in its Hong Kong-listed shares, which have been suspended since June 26th, 2025.
The company has presented the Philippine online gaming platform as part of its restructuring and a potential source of positive cash flow. However, resources allocated to the new business and difficulties recruiting finance staff delayed its annual results.
Citing concerns over Century Entertainment’s financial reporting controls, the Hong Kong Stock Exchange imposed additional resumption conditions in July, including the publication of outstanding results, the resolution of audit modifications and an independent review of the company’s internal controls.
