Philippines electronic gaming outlet service provider PhilWeb Corporation says it has expanded its portfolio of gaming services by acquiring 16 new eBingo outlets and two eBingo machine suppliers.
The combined cost of the transactions comes to Php730 million (US$15 million) with the eBingo outlets costing Php450 million (US$9.2 million) and the suppliers Php280 million (US$5.8 million).
According to PhilWeb, acquiring the businesses gives the company a “two-fold footprint in the whole electronic gaming sector,” with the two suppliers already accredited to supply to 64 eBingo outlets across the country.
PhilWeb itself is an accredited gaming service provider to a network of 85 eGames outlets, while it also operates 31 PAGCOR licensed eGames outlets. The acquisition of the 16 eBingo outlets takes the total number of eBingo outlets under its umbrella to 22.
PhilWeb said the 16 new outlets generated combined GGR of Php1.2 billion (US$24.6 million) and the two suppliers Php364.9 million (US$7.5 million) in 2019.
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