ePLDT, the e-business unit of the Philippine Long Distance Telephone company announced the acquisition of a 20 per cent stake in internet gaming firm PhilWeb for P502.4 million.
PhilWeb is the principal technology service provider of the government\’s Philippine Gaming and Amusement Corp. (PAGCOR), with which it has a marketing consultancy agreement for internet sports betting and internet casino operations.
ePLDT plans to assist PhilWeb in the nationwide rollout of its internet sports betting and casino stations, using principally the telecom resources of the PLDT group, PLDT said.
“The investment will enable the PLDT group, through ePLDT, to gain a firm hold on legitimate gaming content for the group\’s mobile business as well as its wired and wireless broadband businesses, and to influence the nature of the content consistent with the requirement of the PLDT group to increase the usage of its various network resources,” the PLDT statement said.
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