PhilWeb is applying for a new license after regulators refused in August to renew its authorization to supply software systems to gaming cafes. The President took a tougher stand after he declared in August that online gaming could resume as long as regulations are strictly enforced. fell 30 percent while Leisure and Resorts World dipped 20 percent after the President’s declaration, which came less than an hour before the market closed.
MANILA (2nd UPDATE) - President Rodrigo Duterte said Thursday he was ordering the closure of online gaming operations in the country, sending gaming stocks on a tailspin.
