PhilWeb bags East Timor mobile gaming license

MANILA, Philippines -  Ongpin-led online technology firm PhilWeb Corp. has obtained a mobile gaming license from East Timor, allowing it to launch a suite of mobile games as it aims to build up its presence in Asia.

In its disclosure to the Philippine Stock Exchange, PhilWeb said it would be working closely with the leading telco in East Timor to immediately launch Gold Mobile to their subscribers.

PhilWeb president Dennis Valdes said this was a major milestone in the company’s push to expand in the Asia Pacific region. “Our track record in mobile gaming was critical to the government of East Timor in granting us this license,” he said.

PhilWeb launched the SMS-raffle “Premyo Sa Resibo” in 2005, and in the past six years has received over 175 million text entries and given out over P165 million in prizes.

Valdes also noted that their expansion into Asia Pacific has been very successful so far, with several joint venture arrangements signed with partners in Cambodia, Laos, Guam and Palau. The company is also exploring opportunities in Vietnam, Nepal, India, Sri Lanka and in other countries in the region.

“This year will be a banner year for PhilWeb’s Asia Pacific division, as it expands the company’s business into markets beyond our Philippine borders,” Valdes said.

PhilWeb posted a record income of P708 million last year, up 28 percent from P551 million as revenues grew 27 percent to P1.04 billion.