PhilWeb Corporation, the Philippines’ first and largest listed online technology firm, announced that it will expand its existing business by operating legal foreign government-franchised gaming outside the Philippines beginning next year.

In a disclosure to the Philippine Stock Exchange, PhilWeb said it has incorporated a wholly-owned subsidiary, PhilWeb International Gaming Corporation, capitalized at P1 billion, to handle this business.

“We will demonstrate that our very successful business model of partnering with government, in this case, PAGCOR, to develop and operate technology-based gaming can be transplanted to other countries throughout the region and other parts of the world,” said PhilWeb president Dennis O. Valdes.