PlayTime says no plans to list yet; CEO open to offering ‘strategic advice’ to new PhilWeb owners

 PlayTime, a fast-growing online gambling firm, said on Friday there are “no current plans” to go public as it remains focused on growing its business and rolling out new products.

This comes after INSIDER INFO reported that PlayTime is a backdoor listing candidate via PhilWeb Corp.

The previous day, PhilWeb owner Gregorio Ma. Araneta III agreed to sell the company to two corporate entities with no gaming industry background for P1.8 billion.

“We wish to formally clarify that PlayTime has no current plans to go public or pursue any form of IPO or backdoor listing,” PlayTime said in a statement. 

“At this stage, the company remains focused on its core objectives of sustainable growth, product innovation, and community development within the online gaming ecosystem,” it added.

Future partnership with PhilWeb?

PlayTime public relations director Krizia Cortez confirmed separately that PlayTime’s CEO had expressed his willingness to offer "strategic advice" to some of PhilWeb’s new investors, citing personal ties. 

She also expressed optimism about the local online gambling industry amid an ongoing regulatory review.