Tuesday July 3, 2012 : ONLINE GAMBLING SOFTWARE DEVELOPER IN PHILIPPINES DEAL
Ongame to supply fixed odds games content for internet terminals
The online gambling software developer OpenBet has signed a content deal that gives it entre to the internet terminal market in the Philippines, the company has announced.
The contract will see Openbet supply fixed odds games, known locally as Instawin, to PGI and its Philippine subsidiary, IEST for use on terminals to be deployed in PAGCOR’s authorised entertainment venues throughout the Philippines.
PAGCOR operates and regulates bingo, e-Games Cafes, poker rooms, casinos and VIP clubs nationwide.
Each terminal, provided by IEST, will be connected to the internet and will feature fixed odd (Instawin) games supplied by OpenBet, to complement its existing sports betting offering.
Over 60 games, including popular titles such as Cash Drop, Lucky Reactors and Caddy Scratch, have now gone live in existing PAGCOR‟s authorised outlets, with further titles expected in due course. PGI aims to have over 500 terminals containing OpenBet content go live by the end of 2012, with more planned thereafter to be deployed throughout the Philippines.
As recently highlighted in the PwC Gaming Report, the Asia Pacific region has a CAGR of 18.3 percent with the Philippines having the second largest at 20.3 percent. The region‟s total gaming revenues are expected to top US$67 billion by 2013.
David Loveday, chief executive officer at OpenBet, said: “The Asian market is a fast growing, important market with an ever-evolving regulatory environment. This supplier agreement gives us a first-mover advantage with one of the Philippines‟ early licence holders. As the gaming industry in this region develops and grows, so too will OpenBet through this key partnership with PGI”.
Carl Wahlin, director and business development manager at PGI, commented: “When undertaking any form of internet-based gaming in a market where regulation is at an early stage, it is imperative that you surround yourself with suppliers that understand the legal boundaries. When choosing a partner to supply our Instawin fixed odd games, OpenBet was the natural choice. They are a market leading software supplier with an unquestionable reputation for probity and we look forward to working with them going forward”.