PhilWeb, whose share price has surged over 370 percent over the past year, said in a stock exchange filing on Thursday it will “support the operation and management of Hann’s online gaming platform”.
Hann Casino in Clark Freeport Zone in Pampanga is operated by Hann Holdings of South Korean gaming tycoon Dae Sik Han.
Hann Holdings was planning to list on the Philippine Stock Exchange in 2025 but decided to delay the initial public offering (IPO) as market conditions remained too volatile.
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This is another sign that regulated online gaming and physical casinos are moving closer together amid new online gambling regulations.
PhilWeb is also making bigger moves after the firm changed hands following the exit of tycoon Gregorio Ma. “Greggy” Araneta III.
Hann Online was launched on March 31, 2025 with over 100 games, but the start-up platform is still relatively small. This makes a partnership with a more experienced operator like PhilWeb a sensible move.
Last year, online gaming player DigiPlus made a move in the opposite direction by entering the physical casino space through its P12-billion acquisition of Casino Filipino at New Coast Manila.
Hann wants bigger online share
Most of Hann Casino’s earnings come from its integrated resort in Clark, but this move is expected to raise its share in the online space.
“We are trying to make it [online gambling] as big as possible,” Han told InsiderPH on Thursday.
He said they will keep the Hann Online brand, with PhilWeb providing support and their gaming expertise.
As for the IPO, Hann said he is keeping cards close on the P13 billion listing.
“No plan [to list] at the moment,” he said.
Philweb valuation soars to P10 billion
PhilWeb shares touched a new record high on Thursday, gaining nearly 8 percent to P7.01 per share.
“[It’s] a good starting point,” a PhilWeb insider told InsiderPH when asked about the Hann partnership.
This values the firm at about P10 billion despite losses as new management seeks to turn the business around.
During the first nine months of 2025, Philweb saw losses balloon 500 percent to P60.9 million while revenues slumped 11 percent to P544.77 million.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
