PhilWeb sets up subsidiary to manufacture gaming terminals

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PhilWeb said the gaming terminals will enable PhilWeb to offer a device that tightly integrates all its gaming software, while improving security and functionality in the gaming experience. The subsidiary, PhilWeb Gaming Solutions,will be headed by Joe Pisano, who has been in the gaming industry for several decades. Pisano is also president of Jade Entertainment and Gaming, a regional distributor of equipment used in the gaming industry, like IGT, Novomatic, FutureLogic, Crane and others. Dennis Valdes, president of PhilWeb, said, “We are prepared to put in up to P100 million into this business over the next few years. Joe Pisano has been a friend for many years and his regional experience will prove invaluable as we grow in Asia Pacific. ?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. ?And, of course, the market for these devices goes beyond just PhilWeb’s own businesses but into the realm of consumers worldwide. We can make these devices cheaper and better in the Philippines,” Valdes said in statement. Pisano, meanwhile, added, “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.” PhilWeb recently disclosed that its net income for the first half of 2012 surged to P480 million, an increase of 30 percent compared with the same period in 2011. ]]>

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