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PhilWeb grows with PAGCOR acquisitions
PhilWeb Corp., the Philippines-based game technology company, is expanding in the Philippines with with Philippine Gaming and Amusement Corp (PAGCOR) acquisitions. The company has purchased additional eGaming sites from the Philippine Gaming and Amusement Corp in a deal for cash and stock.
The company’s BigGame unit has acquired two sites from Golden Frontier Gaming: in Consolacion and Lapu-Lapu City in Cebu. The deal was worth $46,882 in cash and 394,322 PhilWeb shares. The shares were worth $37,841.
PhilWeb began beefing up its portfolio after it obtained an operating license last year. PAGCOR issued a provisional Certificate of Accreditation to the comoany to operate as an Electronic Gaming System (EGS) provider.
In October, PhilWeb was given a permanent license with the caveat that it could only operate 16 gaming outlets out of the company’s 34 locations. This past February, the firm saw its operations capabilities extended when PAGCOR authorised it to operate at an additional 21 sites across the country.
At the end of March, PhilWeb was operating 38 locations. Since then, it has added an additional 14 to bring its current total to 52.
PhilWeb was forced to close by PAGCOR in 2016. At the time, company founder and then-chairman Roberto Ongpin was seen as an “oligarch” by Philippine President Rodrigo Duterte, and was targeted as an example of the country’s gambling reformation. Despite attempts to stave off the denial of a license renewal, PAGCOR pulled the trigger and the company was shut down.
Gregorio Araneta III purchased 53.75 percent of the company from Ongpin, which helped to facilitate the license renewal. Araneta is a well-known member of the business community and serves on a number of boards. He is the president, chairman and CEO of Araneta Properties Inc., and the president of Araza Resources Corp. and Carmel Farms, Inc., among others. He is also the board chairman for several companies, including Autobus Transport Systems, Inc., Gamma Holdings Corp. and Carmel Development Corp. He and his family descend from Gregorio Araneta, who was the Secretary of Justice of the Philippine Republic at the turn of the 20th century.
Source: CalvinAyre.com
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Sought-after software provider’s enhanced Premium release sees players step into the glow of the Far East as wild symbols and Quadspins combine for huge rewards
With Swintt having already opened the way to a world of wonder in the original Lucky Fortune Door, this month the award-winning software provider is back in action again with Lucky Fortune Door Wild – an exciting reboot that gives players even more ways to win!
Like its SwinttPremium predecessor, Lucky Fortune Door Wild is a five-reel slot that can be played with either five or ten paylines. Boasting an engaging Far East theme, the slot combines dragons, yin and yang pendants and coins with new golden ingot wilds that substitute for all other symbols.
The good news for fans of the original game is that the slot’s signature Quadspin mechanic again makes a welcome return. Activated whenever a win of at least 4x the bet is triggered, players will have the choice to either claim their current prize or gamble a portion of it to activate Quadspins.
Should they decide for the latter option, the gameboard will be divided into four separate reel sets to potentially quadruple the prizes on offer – and of course, with substitute wilds now also in play, the chances of players landing the slot’s maximum 6,000x win multiplier will be greatly increased.
As a further incentive, during Quadspins, an extra mystery symbol is also added to the reels. Should any instances of this icon appear on any of the four reel sets, they will be replaced by a random matching symbol to create additional payline wins and generate potentially huge prizes.
On top of this, should players continue to land wins of 4x their bet or greater during Quadspins, they can elect to remain in the feature for longer. With a maximum of 50 Quadspin available per set, the odds of them embarking on a prolonged winning streak are, therefore, much more likely.
To cap it off, all wins in Lucky Fortune Door Wild are paid from both left-to-right and right-to-left, meaning that no matter how aggressively players choose to play, fortune is only ever a spin away.
David Mann, Chief Commercial Officer at Swintt, said: “With Swintt’s signature Quadspin mechanic proving a hugely popular addition to our Premium line-up, we’re delighted to be giving the feature another outing in Lucky Fortune Door Wild. Offering the same great gameplay as the original release but now with added wilds, it’s sure to be a big hit with players and operators alike.”
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