Philippines Export New Gaming ModelPublished November 26, 2009
Philweb goes global.
Philweb, the Philippines biggest online technology firm, is planning to offer foreign government-franchised gaming businesses outside of the country from 2010. The company has incorporated a wholly owned subsidiary for their new overseas venture; Philweb International Gaming corp.
Great Gaming Model
Philweb are excited about spreading their successful business model, which is based around a business/government partnership to develop and operate technology-based gaming. Philweb President, Dennis Valdes is sure that their model "can be transplanted to other countries throughout the region and other parts of the world."
The fact that the business partnership significantly benefited the Philippines Government has caught the attention of Governments from abroad. It also has the added benefit of providing legal, safe, casino gambling in an industry that has its fair share of sharks.
Innovation Pays Off
Philweb's business innovation and global perspective appears to be giving them pleasing payback. Third quarter net profit jumped up an extremely healthy 133%, with Philweb's total profits to date totaling P372.4 million. This figure is 76% up on the equivalent period in 2008. The company's sights are now set on a P550 million for the whole year.