Philweb Cambodia Ltd aims to have a lottery available through mobiles and kiosks by the end of the year, according to a filing by its parent company on the Philippines Stock Exchange.
The Cambodian lottery – which received a licence in August – was expected to prove profitable, it said.
“It is expected that the operation will contribute significant amount of revenue and bottom line to the Company’s already growing business,” the statement said.
Established in July, PhilWeb Cambodia is a joint venture split 80:20 between Philippines-based PhilWeb Corporation and 5P Corporation, which is owned by Prime Minister Hun Sen’s sister Hun Sen Ny, the firm said previously.
PhilWeb intends to operate internet-based and mobile-based games of chance, such as lottery, internet casino cafes, and other games of chance as they become legally available in the Kingdom, according to the most recent filing.
Although gambling in the Kingdom is restricted to foreign nationals in designated areas, lotteries are legal for Cambodian citizens, provided proper approval is granted, PhilWeb’s Asia Pacific president Mike Grandinetti has told The Post.
PhilWeb operates internet cafe-style gaming sites in the Philippines in conjunction with the country’s government-owned Philippine Gaming and Amusement Corporation.
The firm intends to hold a shareholders meeting on January 7 to approve a capital raising via the issue of new shares.
Mike Grandinetti deferred questions yesterday on how this plan would impact its Cambodia operations until later this week.
In November, a PhilWeb subsidiary signed a memorandum of understanding with Laos’ Simuong Group to develop and operate in Laos.
PhilWeb’s Chairman is Roberto Ongpin, who Forbes says is a prominent Philippine businessman with interests in San Miguel.