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The Philippine Amusement and Gaming Corporation (PAGCOR) has lifted the suspension order on Jade SportsBet, the online betting platform. This decision was communicated in a letter issued by PAGCOR on Tuesday, June 25.
Jade SportsBet is a product of Jade Entertainment and Gaming Technologies Inc., a company based in the Philippines and founded by gaming entrepreneur Joe Pisano. The sports betting platform launched in 2022, but were forced to suspend operations earlier this year.
Despite the lifting of the suspension, as of Wednesday morning, the Jade SportsBet website still displayed a maintenance notice. It informed users that the system was under maintenance and that player transactions were currently unavailable.
PAGCOR’s letter from the electronic gaming licensing department confirmed that Jade Technologies had fully settled its outstanding cash bond. This bond is required for their role as a service provider for the sports betting system of their online platform.
The letter served as a follow-up to a notice sent to Jade Gaming on May 21, which had initially suspended Jade SportsBet operations in the Philippines.
The letter further stated that Jade Technologies is now compliant with the performance cash deposit requirement as per the “Regulatory Framework for the Accreditation of Service Providers and Processing of System-related Requests.”
It concluded with the announcement that the suspension of Jade SportsBet operations is lifted, effective immediately.