Online betting platform Jade Sportsbet lifted its suspension order on Philippine operations, according to a letter released by Philippine regulators on Tuesday (June 25). The letter was confirmed by GGRAsia.

Jade Sportsbet is a product of Philippines-based Jade Entertainment and Game Technology Inc., a company founded by game entrepreneur Joe Pisano.

"Jade Sportsbet has been approved for reactivation," he told GGRAsia on Tuesday

As of Wednesday morning, the site, which was accessed through the Philippines, had an advisory notice that the system was under maintenance and that "player transactions" activity was "currently unavailable."

"Jade [Technologies] has fully settled its outstanding cash bonds as a provider of sports betting systems services for online gaming platforms," the letter, sent Tuesday from the electronic gaming licensing unit of Philippine Entertainment Games Corp. (Pagcor), states

The communication added that it was a follow-up to a May 21 notice from Jade Gaming regarding the suspension of Jade Sportsbet operations in the Philippines.

On May 24, Mr Pisano confirmed to GGRAsia that Jade Gaming was due to pay a cash bond balance of $10 million (US$170,081) in PHP to Pagco by May 19, but missed the deadline.

At the time, Mr. Pisano said he expected the payment to be completed in about seven days.

Jade now complies with performance cash deposit requirements under the "Regulatory Framework for Certification of Service Providers and Processing System-Related Requests," Pagcor's Tuesday letter said.

The letter added: "We hereby inform you that Jade Sportsbet's suspension will be lifted immediately."

BY: 온라인경마사이트