Philweb Raising Capital For Expansion Of Internet Gambling Assets

Company plans to raise US$128.6 million from sale of shares

The Philippino gambling group PhilWeb Corporation has announced a capital raising initiative to fund expansion of its internet cafe gambling facilities, revealing that it plans to raise US$128.6 million through the sale of treasury and subsidiary-held shares.
In a stock exchange advisory this week the company certified that its shareholders have unanimously approved the project for a private placement of over 300 million shares in the corporation priced at a minimum of P20 per share.
"With this war chest, the company will have the ability to go on an aggressive expansion program," the filing explained..
By the end of 2015, the firm's network included 268 e-games outlets with more than 8,800 gaming terminals and around 90,000 registered members.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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