Philippines gaming services provider PhilWeb Corporation has acquired two PAGCOR eGames sites in Consolacion and Lapu-Lapu City in Cebu through its subsidiary BigGame, Inc.
The sites were acquired from Golden Frontier Gaming, PhilWeb announced, for a cash payment of Php2.5 million plus 394,322 common shares.
The addition of two new sites lifts the number of locations operating under the PhilWeb group to 52.
It also means the number of locations has increased by 14 since 31 March 2018 when PhilWeb ran 38 locations.
The company’s license was renewed by PAGCOR last August after Gregorio Araneta III purchased a 53.75% stake in the company from former owner Roberto Ongpin, who was famously described as an “oligarch” by Philippines President Rodrigo Duterte and had his company’s gaming license revoked in 2016.
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