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PHILWEB LICENCED TO OPERATE IN EAST TIMOR
Wednesday June 29, 2011 : Mobile gaming licence awarded under the brand name Gold Mobile
Philippines-based internet gambling firm PhilWeb Corp has been awarded a license to operate mobile gaming in East Timor.
A company spokesperson said the deal was a key milestone in the company's push for expansion into the Asia Pacific region.
A Philippine Stock Exchange disclosure states that PhilWeb, under the terms of the licence, may immediately launch a suite of mobile games, including SMS-based instant win options.
The company will be launching the products under the brand name Gold Mobile.
Dennis Valdes, President, PhilWeb said: “Our track record in mobile gaming was critical to the government of East Timor in granting us this license.”
With joint venture agreements in Cambodia, Laos, Guam and Palau, where subsidiaries have already been set up to start business, the company is pleased with what it terms successful expansion plans.
“We are also actively narrowing our search for partners in Vietnam, Nepal, India, Sri Lanka and in other countries in the region. This year will be a banner year for PhilWeb’s Asia Pacific division, as it expands the company’s business into markets beyond our Philippine borders,” Valdes said.
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