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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”. Araneta III.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....

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“The one who gets appointed to PEZA (Philippine Economic Zone Authority), he gets about P300 billion (about USb) selling the umbrella-type of license,” the President said.Some million in smaller prizes had been awarded when the game was pulled, but two behemoth jackpots stayed unsold or at least unclaimed.“We wish to assure the President that his policy of not registering online gaming or online gambling in PEZA will not change and will continue as PEZA is one with the President in his conviction that any form of online gaming or online gambling will not benefit the country and the Filipino people,” said Plaza....

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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.”Justice Secretary Vitaliano Aguirre II has reportedly clarified that the president was referring to the Cagayan Economic Zone Authority (CEZA), the regulator that actually licensed Asian-facing online casinos there in the past, prior to Pagcor’s take-over of the revenue stream. Araneta III....

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For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each. The base game may return as low as 85% to players in smaller prizes, while the massive multi-million dollar progressive being awarded might bring the overall RTP up to 95%. 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....

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In that scenario, a small percentage of every bet goes to feed the progressive jackpot. The game was pulled after only about 15 percent of tickets had been sold. Those prizes were never awarded....