Asia

PhilWeb Acquires 16 New eBingo Outlets and Two eBingo Machine Suppliers

Published

4 years ago

March 10, 2021

Niji Narayan

PhilWeb Acquires 16 New eBingo Outlets and Two eBingo Machine Suppliers

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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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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.