PhilWeb, DFNN re­act to Duterte's tirade vs on­line gam­ing LFri­day

Sun.Star Pampanga - - BUSINESS! -

isted com­pa­nies PhilWeb Corp. and DFNN Inc. on

re­leased clar­i­fi­ca­tions on Pres­i­dent Ro­drigo Duterte's lat­est call to close down all on­line gam­ing op­er­a­tions.

In a dis­clo­sure to the stock ex­change, PhilWeb said it "does not en­gage in on­line gam­ing" and merely pro­vides soft­ware to the Philip­pine Amuse­ment and Gam­ing Cor­po­ra­tion (Pag­cor) for its net­work of e-Games out­lets.

"PhilWeb’s soft­ware can­not be played from homes or of­fices. Each e-Games out­let is owned by an in­di­vid­ual en­tre­pre­neur whose Gam­ing Li­cense is is­sued by PAG­COR di­rectly to them. Each e-Games out­let there­fore pays all taxes, as does PhilWeb it­self," the com­pany sai d.

PhilWeb is ap­ply­ing for a new li­cense af­ter Pag­cor re­fused to re­new its li­cense. Its for­mer chair­man, ty­coon Roberto Ong­pin, re­signed and di­vested from the com­pany af­ter Duterte branded him as an oli­garch who must be de­stroyed.

In a sep­a­rate dis­clo­sure, DFNN Inc. said the Pres­i­dent's re­marks "per­tain to on­line gam­ing that is not un­der the su­per­vi­sion of Pag­cor."

"The DFNN Group through it's in­vestee sub­sidiaries has mul­ti­ple ex­ist­ing valid li­censes un­der the State Gam­ing Reg­u­la­tor," it said.

Af­ter sharp declines fol­low­ing Duterte's tirade, shares of PhilWeb and DFNN are lead­ing gain­ers on Fri­day trade. PhilWeb shares were up 16.51 per­cent while DFNN shares were up 27.16 per­cent.

Mean­while, Jus­tice Sec­re­tary Vi­tal­iano Aguirre II clar­i­fied Fri­day that the clo­sure or­der was for all on­line gam­bling firms.

Aguirre said a task force will be formed to in­ves­ti­gate the op­er­a­tions of on­line gam­bling, and the clo­sure will be con­ducted through due process. -- ABS-CBN News

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