Online Casino Transfer: News - PhilWeb Looks to Work in Cambodia

08/01/2010		Online Casino Style: News PhilWeb Looks to Work in Cambodia
Home History Games News Dictionary		Another major deal has been struck this week by the Philippine online gambling provider PhilWeb Corporation as a statement from the company confirmed their success in earning a contract with the Cambodian firm, 5P Corporation. The two companies will be working together with a very specific goal: to break into the internet casino industry in Cambodia, a growing market that could potentially result in major business, catering to the nation’s population of 15 million. It’s a move perfectly in line with the promises and goals that PhilWeb had made in relation to international expansion. Listed in Manila, PhilWeb proudly announced their joint venture agreement with 5P, which in their own right is moving up to be an influence with the government, a key point for the burgeoning internet casino industry. Principal holder for 5P is Hun Sun Ny, the sister of Cambodia’s prime minister Hun Sen. Cambodia is not the only target region on PhilWeb’s maps, however, as news from the company also places Laos, Vietnam, Myanmar, Guam, Saipan, Palau, Papua New Guinea, East Timor, and Nepal in their sites for future endeavors. For now, however, Cambodia will be a focus, with 80 percent of the internet gambling project belonging to PhilWeb Cambodia Ltd, a newly launched subsidiary of its parent company. The investment summary for the new venture estimates that total worth could be as much as five million within five years. PhilWeb already holds the dominant position in their home company, acting as the operator for the state-run entity PAGCOR, recently rumored to be considered being up for sale. Their Cambodian initiative seems to be off to a running start, with rumors flying that an operational license has already been achieved, for both lotteries and online casino cafes.

08/01/2010

Online Casino Style: News
PhilWeb Looks to Work in Cambodia

Another major deal has been struck this week by the Philippine online gambling provider PhilWeb Corporation as a statement from the company confirmed their success in earning a contract with the Cambodian firm, 5P Corporation. The two companies will be working together with a very specific goal: to break into the internet casino industry in Cambodia, a growing market that could potentially result in major business, catering to the nation’s population of 15 million.

It’s a move perfectly in line with the promises and goals that PhilWeb had made in relation to international expansion. Listed in Manila, PhilWeb proudly announced their joint venture agreement with 5P, which in their own right is moving up to be an influence with the government, a key point for the burgeoning internet casino industry. Principal holder for 5P is Hun Sun Ny, the sister of Cambodia’s prime minister Hun Sen.

Cambodia is not the only target region on PhilWeb’s maps, however, as news from the company also places Laos, Vietnam, Myanmar, Guam, Saipan, Palau, Papua New Guinea, East Timor, and Nepal in their sites for future endeavors. For now, however, Cambodia will be a focus, with 80 percent of the internet gambling project belonging to PhilWeb Cambodia Ltd, a newly launched subsidiary of its parent company. The investment summary for the new venture estimates that total worth could be as much as five million within five years.

PhilWeb already holds the dominant position in their home company, acting as the operator for the state-run entity PAGCOR, recently rumored to be considered being up for sale. Their Cambodian initiative seems to be off to a running start, with rumors flying that an operational license has already been achieved, for both lotteries and online casino cafes.