08 Aug Philweb buys PAGCOR e-gaming site in CdeO
Philweb corporation through its subsidiary company, BigGames Inc. obtained an e-Games site from Philippine Amusement and Gaming Corporation (PAGCOR) in Cagayan de Oro City yesterday, August 7.
In an article from Business World Online, Philweb said in a statement that the site was bought from I-3 Gamers Inc. for 225,000 Philweb shares or a total of P2.09 million (P9.31 apiece).
Prior to its acquisition of the e-Gaming site from CdeO, BigGames already bought an e-Games site in Mandaue City and one in Lapu-Lapu City both coming from PAGCOR.
Aside from e-Games site acquisitions, Philweb is set to obtain 15 internet cafes to be used for online casinos within this year from self-governing operators with current shares up to 7.5 million shares.
PAGCOR is the government agency which serves as the gaming regulator in the country and is also responsible for the termination of any illegal casino operations