PhilWeb granted interim one month online license; Stocks continue to fall

Philippines state gambling regulator PAGCOR, has allowed a month to month license renewal for online gaming operator PhilWeb. Share prices for the Realtime Gaming Asia (RTG) e-gaming station provider were down 13.68% at 3:20 PM on Monday. The company had earlier requested a suspension of trading (July 4-11).

In a statement to the Philippines stock exchange the company said that it’s license, which was expiring today, had been extended until August 10. Along with the filing was a letter from the new PAGCOR chairperson, Andrea Domingo, stating the license would only be issued for the month until President Rodrigo Duterte’s “directive regarding online gambling can be clarified.”

President Duterte announced after his first cabinet meeting on June 30 that onlin…