The gaming technology company became the focus of President Rodrigo Duterte’s anti-oligarch and anti-online gambling pronouncements.
The Philippines.- PhilWeb Corp. gaming technology company became the focus of President Rodrigo Duterte’s anti-oligarch and anti-online gambling pronouncements resulting in the resignation of the firm’s chairman, Roberto Ongpin.
PhilWeb is a listed company on the Philippine Stock Exchange and has been a service provider to Philippine Amusement and Gaming Corp. in the management of the e-games network for the past 14 years.
“The main reason why Mr. Ongpin resigned from PhilWeb is to save the company. He recognised that if he stayed on, PhilWeb’s e-Games outlets could be shut down, which would lead to the loss of its business and eventual closure, affecting more than 5,000 employees,” said PhilWeb president Dennis Valdes in a statement.
Valdez explained that the company was not into online gaming. “Pagcor e-Games is not online gaming,” he claimed, adding it could not be accessed by an office or home computer. “It is a private, members-only network of clubs where players need to be physically present in order to play. Access to these clubs is strictly controlled such that it is only open to members who are over 21 years old and are financially capable of gaming,” affirmed Valdez.
According to Valdez, if PhilWeb’s contract with Pagcor was cancelled or not renewed, the company’s license to operate would be immediately revoked, leading to the shutdown of its operations as well as of the 286 e-Games outlets. Each outlet is operated by a Pagcor licensee, who is generally well connected in the local community.