Philweb Corp announced it had received a Certificate of Accreditation from the Philippine Amusement and Gaming Corporation as an electronic gaming system provider to licensed online sites.
However, PAGCOR quickly noted that the accreditation does not grant Philweb permission to restart operations. Philweb still needs to acquire a third-party audit service provider for electronic games.
“The third party audit service or Electronic Management Gaming System provider—which is still in the process of procurement—will oversee the compliance of all gaming service providers. More importantly, the EGMS will ensure the veracity of information provided by licensees and operators with regard to player registrations, player account controls, player funds, reporting, audit, among others,” PAGCOR said in a press statement.
“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,” the statement said. “Philweb, as well as other accredited electronic games providers, have to wait for PAGCOR’s Notice to Proceed before they can commence operations.”
