PhilWeb swaps shares for eGames cafes, bingo station

Philippine-listed game technology provider PhilWeb Corp. has gone on a last-minute shopping before saying goodbye to a tumultuous year.

In a disclosure to the Philippine Stock Exchange, PhilWeb announced that it acquired an eGames café of Philippine Amusement and Gaming Corporation (PAGCOR) and a PAGCOR Bingo Game station in Cainta, Rizal, through the firm’s subsidiaries BigGame, Inc. and Easy E-Bingo, Inc.

Ching Bu Gaming Corporation received 2.25 million PhilWeb common shares in exchange for the two gambling facilities, according to PhilWeb. The gaming technology provider also announced that it swapped some 1.25 million PhilWeb common shares to Florante O. Castillo in exchange for his PAGCOR eGames café in Pasay City.

The recent acquisitions of PhilWeb come at a time when the state regulator had finally issued a provisional certificate of accreditation recognizing the firm as an electronic gaming system (EGS) provider.