Philippine gambling operator PhilWeb Corp. has had a robust first six months in 2012, having posted a net income of Php 480 million in the first half of the year representing a 30% increase from their previous figures a year ago. Now that the second half of 2012 is around, PhilWeb hopes to keep the ball rolling by announcing their intentions of investing up to Php 100 million in a new company called PhilWeb Gaming Solutions.
In a statement released last week, PhilWeb is gearing up for a major business venture that will manufacture gaming terminals for both its local network of e-cafes and for international consumption.
“PhilWeb will invest up to P100 million in a new company, PhilWeb Gaming Solutions Corp., that will manufacture gaming terminals for its local network of 262 e-Games cafes, its various international businesses and to compete in the booming market for these devices worldwide,” the statement said.
With these new gaming terminals, PhilWeb will be able to offer a device that not only integrates its gaming software, but also provides increased security and functionality in the player’s overall gaming experience.
In an effort to bolster PhilWeb Gaming Solutions Corp’s profile in the international market, the company has tapped no less than Joseph Pisano to be the its first president. As the current president and CEO of Jade Entertainment and Gaming Technologies Inc., the Australian Pisano’s reputation as one of the pioneers in the Philippine gambling market is without question, having been responsible for setting up off-track horse-race betting and jai alai in the Philippines. Pisano is also well-respected in the Asian gambling community, thanks in large part to possessing 30 years of experience in the gambling industry across the Asian region.
“I am pleased to start a new venture with PhilWeb, as their spectacular growth over the past years has shown that they are the right partner in Asia-Pacific,” Mr. Pisano was quoted as saying in the statement. “These devices will be an excellent new business for the entire company in the coming years.”
It figures that with PhilWeb looking to branch out to the Asian market, they couldn’t have found a better man for the job to lead the way than Joe Pisano.
PhilWeb President Dennis O. Valdes is also confident that the new machines will not only represent an improved gaming experience for local players, but will also go over well in a number of other Asian countries where the company has already extended their business activities.
“I’m very bullish on our new venture, as this device will significantly improve the gaming experience for our over 40,000 customers per day, who play on our e-Games network of close to 6,000 terminals, he said, before adding, “The devices will be greatly appreciated in Guam, Timor Leste, Cambodia, Laos and other countries where we have extended our business activities.”
PhilWeb’s business expansion is further proof that the Philippines is growing more and more serious about its intentions of becoming a serious player in the gambling market. With this new business endeavor, PhilWeb is certainly doing its part to bolster that claim.
