eGaming thrives amid competition

    Published in: Latest Intelligence     Internet cafe operator PhilWeb looks to other emerging markets and new products for future growth. The company works with state company Philippine Amusement and Gaming Corp. to run almost 400 “e-Games cafés”, specialized internet cafés just for online casino gambling and sports betting, usually operating around the clock. “Customers in Asia are not playing from home or the office in the same manner that they would be in Europe because they do not have internet or a credit card,” says Dennis Valdes, president. According to Valdes, an average 50,000 people a day visit the cafés,  spending 2,000 -4,000 pesos ($48-$96) in cash a visit. “It’s not huge , but because it’s very affordable, it just becomes part of a person’s entertainment budget,” Valdes says. “It’s the same amount of money they would spend if they had a very nice dinner in a restaurant.” The net profits of PhilWeb, controlled by...

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