Asia
PhilWeb Acquires 16 New eBingo Outlets and Two eBingo Machine Suppliers
PhilWeb Corporation 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 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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