Filipino Online Gaming Market BlossomsPublished November 2, 2009
With PAGCOR revenues surging, PhilWeb continues to grow at a healthy rate.
PhilWeb is the first and the largest listed internet company operating in the Philippines. This effectively makes it the alpha-male technology gaming entity in the country. Phil Web provides the principal technology to PAGCOR, which is the official Philippines' regulatory agency for all gambling games.
Gambling is big business in Asia
The Philippine Amusement Gaming Corporation (PAGCOR) has some 159 e-Games café networks operating as of the third quarter in 2009, as opposed to 108 e-Games café networks at the same time a year ago. PAGCOR also owns and operates Internet Sports Betting Stations. The resulting surging profits, driven by the e-Gaming expansion, have boosted PhilWeb's net earnings to $3.1 million.
PhilWeb provides solutions
The company is rapidly expanding its market share, thanks largely to being a partner of PAGCOR - the regulatory agency for all games of chance in the Philippines.
With the Asian gambling market showing robust growth - largely attributed to China's rising middle class affluence, the Philippines is picking up a lot of the residual and primary business.
Many large brick and mortar casinos have opened up in the Philippines, promising as much action in Asia as Las Vegas provides in America.
Now PhilWeb is generating more same-store income by expanding their product lines. They are making a concerted effort to remodel their stores, raise their standards and even throw in some high-roller facilities.
It's all part of PhilWeb's strategy to improve its operations ability and raise its bottom line. The company's sports betting unit will soon provide NBA games sports betting. The mobile gaming division of PhilWeb will relaunch the Premyo Sa Resibo program as Instant Premyo Sa Resibo.