Philweb corporate information officer Roberto Valdes informed the Philippine Stock Exchange that the exclusive license granted by AGC to Philweb in the Asian region "positions the company to become a major player in the multi-billion dollar online gaming indutry in these countries."
Valdes said the deal will grant Philweb the sole license to provide the software and platform for the online gaming services of AGC in the Philippines, Indonesia, Thailand, Malaysia and Taiwan. The license has an initial term at 10 years and can be automatically renewed for a similar term at the option of the parties.
AGC, headquartered in Vancouver, Canada, is a pioneer and one of the world’s leaders in the development and licensing of gaming-related software and applications. It owns proprietary rights over software capable of operating gaming operations via the Internet, short messaging or text service, multi-media messaging service and other technological applications.
At present, AGC’s operations in online gaming include casino games, sports betting, fantasy sports and trivia games.
Aside from providing software development services, Philweb is also engaged in a host of other information technology ventures.