Philippine-listed gaming technology provider PhilWeb Corp. will soon be back to business after it has finally secured the nod of the state-run Philippine Amusement and Gaming Corp.

The Philippine Star reported that PAGCOR has issued a Provisional Certificate of Accreditation as an Electronic Gaming System (EGS) service provider to PhilWeb after the firm has satisfied the conditions set by the state regulator.

The news is definitely a welcome development for PhilWeb, which has seen its net income plunged 134.2 percent to PHP297.7 million (US$6.01 million) in 2016 from PHP869.6 million ($17.55 million) in 2015 due to the expiration and non-renewal of its Intellectual Property License and Management Agreement (IPLMA).

Stock traders, meanwhile, are also bracing themselves for the possible demand for PhilWeb shares once the Philippine bourse opens on Tuesday.