New PhilWeb subsidiary to manufacture gaming terminals
MANILA, Philippines - PhilWeb Corp. is investing P100 million to set up a subsidiary that will manufacture gaming terminals for e-Games cafes and international businesses.
In a statement, PhilWeb said the new company PhilWeb Gaming Solutions Corp. will be headed by Joe Pisano, who has been in the gaming industry for several decades.
PhilWeb Gaming Solutions will manufacture gaming terminals for its local network of 262 e-Games cafes, as well as other countries such as Guam, Timor Leste, Cambodia and Laos. The terminals will integrate its gaming software, while improve security and functionality.
"We are prepared to put in up to P100 million into this business over the next few years... 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. The devices will also be greatly appreciated in Guam, Timor Leste, Cambodia, Laos and other countries where we have extended our business activities," said Dennis Valdes, president of PhilWeb.
For his part, Pisano said the gaming terminals will be a good business for the company.
"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. These devices will be an excellent new business for the entire company in the coming years," he said.
PhilWeb posted a net income of P480 million for the first half of 2012, a 30% jump from the same period last year.