PhilWeb eyes new revenues from MegaWin deal
Listed gaming technology firm PhilWeb Corp. is looking to generate additional recurring revenue from the country's regulated gaming industry after its investee company secured an exclusive partnership with international gaming provider MegaWin.
In a disclosure on Friday, PhilWeb said the agreement would allow licensed gaming operators to offer MegaWin's gaming portfolio through JKS Tech Solutions, in which the company is expected to acquire a 30-percent stake upon completion of its investment transaction.
The partnership is expected to expand PhilWeb's technology-enabled gaming services business while strengthening its commercial relationships with existing operators and opening opportunities to attract new clients.
“The MegaWin partnership secured by JKS builds on the momentum of our recent agreements and is another step in PhilWeb’s long-term strategy of expanding its technology-enabled gaming services business,” PhilWeb Chairman Lance Y. Gokongwei said.
Under the agreement, JKS will provide hosted gaming services through remote technology infrastructure and application programming interface integration, allowing local operators to offer MegaWin's interactive gaming content to their customers.
The services are targeted for launch within the fourth quarter of the year, subject to regulatory approvals and contractual arrangements.
The deal follows PhilWeb's recently announced exclusive arrangements with international gaming content providers Pragmatic Play and Games Global, further expanding its portfolio of digital gaming offerings.
PhilWeb expects the latest partnership to deepen its relationships with existing operators, including Okada Manila, Hann Online, NUSTAR Online, FBM Philippines, NWR Play, and PT Gaming.
The company also sees opportunities to expand its customer base as more licensed operators adopt its hosted gaming services, supporting its strategy of building scalable and recurring revenue streams.
“With JKS adding another respected international gaming services provider, our network of licensed operators, spanning luxury integrated casino resorts and premier domestic platforms, will have access to a broader and more diversified range of offerings.
At the same time, we continue to build scalable and recurring revenue streams through technology-enabled services,” Gokongwei added.
MegaWin is an international business-to-business gaming content and software provider offering mobile slot games, fishing games, and other interactive gaming products.