PhilWeb Corp. publicly commented its intentions to acquire 15 gaming venues.
Philippines.- PhilWeb Corp. would manage PAGCOR’s e-Games Cafes, as the local gaming company recently announced. PhilWeb would acquire the national gaming stations by investing 7.5 million of its shares.
The special stations to gamble controlled by PAGCOR will be selecting its future operator soon and the company is confident the national regulator would approve a license for them. However, last year PAGCOR decided to dismiss the renewal of the operator licenses for the online gaming sector.
“We continue to be bullish that we will be able to renew our license with PAGCOR at some time in the near future, we also wish to support those operators that we have worked with over the past 14 years. Some currently wish to exit the business so we are offering them an ability to exit by selling us their businesses in exchange for WEB shares,” expressed Dennis Valdes, President of PhilWeb.