PhilWeb and its wholly owned subsidiary will subscribe to 10.73 million JKS shares at P394 apiece, giving them a direct investment in the PAGCOR-accredited gaming system administrator behind Epic Game.
JKS already serves a different part of the regulated market, offering electronic casino games, sports betting, bingo, specialty games and numeric games to licensed mid-market operators.
Two-way bet
JKS is also betting on PhilWeb, agreeing to buy 81.38 million treasury shares at P16.50 apiece for P1.34 billion, equivalent to about 4.85 percent of the listed company.
The cross-investment will be completed in stages, while PhilWeb’s subscription to new JKS shares still requires shareholder and regulatory approvals.
PhilWeb plays a bigger hand
The deal pushes PhilWeb further into a partnership-driven model, building exposure to gaming operators and technology platforms rather than relying mainly on its traditional operations.
That shift has accelerated under its new ownership group, with tycoon Lance Gokongwei taking over as chair after committing more than P2 billion to PhilWeb and the company expanding its business with Hann Casino Resort, Okada Manila, Newport World Resorts, PT Gaming, FBM Philippines and NUSTAR Online.
The JKS investment now extends PhilWeb’s reach into the mid-market segment, adding another layer to its push to become a broader technology provider for the regulated gaming industry.
—Edited by Miguel R. Camus
