PhilWeb's Okada Play hits P100M gaming revenue in 6 months as bets surge

Insider Spotlight

• Okada Play topped P100 million in monthly gaming revenue just six months after launch.
• Gaming revenue and betting turnover jumped about 50 percent in October, with daily active users exceeding 100,000.
• PhilWeb's first-half profit reached P61 million, reversing a P41.8-million loss as its online gaming technology business expanded.

 PhilWeb Corp.'s transformation from a traditional gaming services business into an online technology provider is gaining traction, with its Okada Play platform crossing P100 million in monthly revenue just six months after launch.

Gross gaming revenue and betting turnover jumped about 50 percent in October from September, while daily active users surpassed 100,000.

“OKADA PLAY's strong performance demonstrates what can be achieved when a leading integrated resort brand is supported by scalable technology infrastructure. We are encouraged by the significant acceleration in October and believe the platform is well-positioned for its next phase of growth,” PhilWeb chair Lance Gokongwei said in a statement on Wednesday.

Lance Gokongwei 

Philweb chair 

A new business takes shape

PhilWeb provides the technology behind several top online platforms, handling everything from digital systems and gaming content to customer support for licensed gaming operators.

Its growing network of partners includes Okada Manila, Hann Casino Resort, Newport World Resorts, NUSTAR Online, FBM Philippines and PT Gaming, allowing PhilWeb to expand its gaming technology business without owning the gaming locations themselves.

• Okada Play launched in May 2026.
• The platform offers more than 4,000 gaming titles from over 20 providers.
• PhilWeb expects other partner platforms could also reach P100 million in monthly gaming revenue before year-end.

What's next?

The company is also pursuing an investment in JKS Tech Solutions under a cross-investment arrangement that includes JKS acquiring PhilWeb shares at P16.50 apiece.

Once completed, PhilWeb expects to recognize its share of JKS's earnings, creating another potential income stream alongside its growing gaming technology business.

“Our long-term vision is to establish PhilWeb as a leading technology infrastructure group, combining organic platform growth, strategic investments, and diversified recurring revenue opportunities to create sustainable value for our partners and shareholders,” Gokongwei added.

Turnaround gains ground

The expansion follows PhilWeb's return to profitability in the first half of 2026 after it earned P61 million compared with a P41.8-million loss a year earlier.

Revenue jumped 63.3 percent to P585.4 million, while costs and expenses grew at a slower pace of 33.2 percent, helping lift its net profit margin to 10.4 percent.

The turnaround has yet to fully repair its finances, however, with liabilities exceeding assets by P193.5 million at the end of June, its most recent financial data showed.

PhilWeb shares were trading at P13.68 each on Wednesday, down about 1 percent, although the stock remained up roughly 120 percent since the start of 2026.

—Edited by Miguel R. Camus