Gaming firm PhilWeb unfazed by new casinos in Manila
MANILA, Philippines - Listed gaming company PhilWeb Corp. on Wednesday said it is confident casinos that will soon start operations in Manila will not eat up its share of the market.
"The gamers that go into land-based casinos are different from those that go to Internet casinos," Dennis Vales, president at PhilWeb, told Mornings@ANC.
PhilWeb's main product is the e-Games, an Internet outlet focused on providing casino games.
"Our gamers tend to be one or two kilometers away from our sites and we now have about 278 e-Game cafes all over the Philippines," Valdes said.
"They might go into Resorts World but they'll probably go there only once a month or once every quarter, specially if they live in the provinces," he continued.
Resorts World Manila, which opened in 2009 in Pasay, boasts of a complex complete with a vast gaming floor, a shopping mall, restaurants, and hotel rooms.
Meanwhile, two billion-dollar integrated entertainment resorts are set to open this year at the PAGCOR Entertainment City: Solaire Manila (owned by port magnate Enrique Razon's Bloomberry Resorts Corp.) and The Belle Grande Manila (of the Henry Sy Group).
Two more projects are expected to rise in Entertainment City: Resorts World Manila Bay and Universal Manila Bay Resort (owned by Japanese gaming tycoon Kazuo Okada).
PhilWeb is expecting to end the year with "another record" after raking in P1.1 billion in net income last year.