MANILA - (UPDATE) Leisure and Resorts World Corp. said Friday regulators ordered it to stop operations of 53 electronic gaming and electronic bingo sites for failure to comply with distance guidelines.
The move could result in P533.2 million in foregone revenues for the rest of the year based on results in the first six months, equivalent to 5 percent of the group's total consolidated revenues and net income last year, the company told the stock exchange.
President Rodrigo Duterte, who had ordered a crackdown on online gambling, said he did not want e-games sites near schools and churches.
Leisure and Resorts said the Philippine Amusement and Gaming Corp. sent notices to its subsidiaries to "immediately cease operations" of 17 electronic games and 36 electronic bingo sites.
The e-games are run by Total Gamezone Xtreme Inc. while AB Leisure Exponent Inc. handles the e-bingo operations, the company told the stock exchange.
Leisure and Resorts said it would appeal the decision and would move the operations to "compliant locations."
In August, PAGCOR refused to renew the license of PhilWeb Corp. to supply software to gaming cafes.
Duterte later branded PhilWeb Chairman Roberto Ongpin as an "oligarch" who must be destroyed, forcing the tycoon to resign from the company.