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PhilWeb Corporation inks joint venture agreement with an influential operator
The Manila-listed online gambling technology provider PhilWeb Corporation scored a significant coup this week, inking a joint venture agreement with the Cambodian firm 5P Corporation with the goal of breaking into the online and mobile gambling sector in the country, which boasts a population of some 15 million.
5P has influence arising from principal shareholder Hun Sun Ny, the sister of Cambodian prime minister Hun Sen.
“The Cambodian joint venture is consistent with PhilWeb’s focus on an international expansion strategy,” read a statement from the Manila-based firm.
“PhilWeb is also working to obtain gaming licenses in other countries including Laos, Vietnam, Myanmar, Guam, Saipan, Palau, Papua New Guinea, East Timor, Nepal and others.”
Eighty percent of the joint venture is owned by PhilWeb Cambodia Limited, a subsidiary of PhilWeb, which estimated that total capital investment over a five-year period would reach five million US dollars.
PhilWeb acts as the enabler of the State-run Philippine Amusement And Gaming Corporation (PAGCOR) and revealed that its latest venture had already secured a Cambodian gaming licence in order to operate lotteries and online casino cafes.
The Philippines government recently indicated that it was considering the privatisation of PAGCOR
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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