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Ongpin sold his shares to Gregorio Ma. For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each. Those prizes were never awarded....
At that time, due to no major prize winners, the return was only a little over 60 percent.Earlier reports suggested that Duterte was going after the Philippine Economic Zone Authority (PEZA) for being corrupt and issuing gambling licenses in its economic zones.
Yesterday, the Philippine Amusement and Gaming Corp....
A PhilWeb Corp. The game was pulled after only about 15 percent of tickets had been sold.After signing a budget funding bill on Thursday, December 22, Duterte announced, “I am ordering the closure of all online gaming....
PhilWeb lost its licenses in August but expects Pagcor to renew them under new leadership since Duterte singled out former majority owner Roberto Ongpin as an oligarch who must be “destroyed”. Plaza pointed out that Lam was not operating in a zone administered by Peza, but in the Clark Freeport Zone, which is administered by Clark Development Corp.Northstar Lottery Group, majority owned by world lottery heavyweight IGT in association with Scientific Games Corp is being questioned about instant win games that didn’t deliver the promised return to player percentages (RTP) due to the games being pulled before enough tickets were sold to award major prizes....
(Pagcor) walked back a statement from the country’s president that indicated all online gaming operators would be put out of business with no exceptions. Andrea Domingo said an executive order would soon be issued to settle the matter and that only unlicensed online gaming businesses will be shut down, with all online licenses in the future going through Pagcor.Although the odds of winning on any ticket were the same for the first, last, and any unsold tickets – one game, The Good Life, should have seen 78 percent of revenue returned to players in prize money....
