PHA eyes investment in gaming platform

MANILA, Philippines — Premiere Horizon Alliance Corp. (PHA), is looking to invest in  Filipino-owned Bengga Corp. a gaming app that aims to reward its  users.

PHA signed a memorandum of understanding with Bengga for a partnership in developing a gaming platform in the play2earn gaming category dubbed “PHlay.”

The company describes the gaming platform as “a hypercasual gaming platform that earns users rewards.”

The platform is a means to reach an audience and influence their behavior while monetizing engagements, it said.

The partnership with Bengga expands PHA’s gaming business and will provide PHA an immediately implementable technology as the gaming platform and app are already available for customization and rollout.

“The business model will be  a relevant and timely focus  in  the high-growth and profitable play2earn sector. This is in line with PHA’s direction of exploring opportunities in the technology sector to complement the offerings and services of SquidPay Technology Inc. (SPT),” PHA said in a disclosure.

At present, Bengga has over 300 games, which change daily between its four “channels.”

Users are able to play against other players through either a leaderboard style tournament or against each other, and play games by themselves. A vast selection of tangible rewards such as digital coupons and cryptocurrencies await both winning and/or effort-driven players.

PHA will be undertaking this project with Bengga through its subsidiary, PH Big Bounty Entertainment Inc. subject to final negotiation of the terms and condition of the agreement and approval of the PHA’s board of directors.

PHA and Bengga will conduct a mutual 30-day due diligence to assess each other’s operations and to evaluate opportunities through a commercial proof of concept with the intent of entering into a joint venture agreement.

Terms and conditions of a binding exclusive implementing agreement will be finalized after the due diligence period.

The goal is to create a joint venture company that will be majority-owned by PHBB at 70 percent and 30 percent to be owned by Bengga. ###