Manila (ANTARA News/Asia Pulse) - PhilWeb Corp. (PSE:WEB), the Philippines' first and largest listed online technology firm, announced it will expand its existing business by operating legal foreign government-franchised gaming outside the country beginning next year.

The gaming firm has incorporated a wholly-owned subsidiary, PhilWeb International Gaming Corporation, capitalized at P1 billion (US$21.3 million), to handle this business.

"We will demonstrate that our very successful business model of partnering with government, in this case, PAGCOR, to develop and operate technology-based gaming can be transplanted to other countries throughout the region and other parts of the world," Dennis O. Valdes, PhilWeb president, said in a disclosure to the Philippine Stock Exchange Tuesday.
 
 

Source:
Business in Asia Today - Nov 25, 2009
published by <a href="http://www.asiapulse.com">Asia Pulse</a>