OpenBet Enters Internet Terminal Market in Philippines

Over 60 games live in PAGCOR's authorized outlets As per the recently signed content deal, the online gambling software developer OpenBet is entering the internet terminal market in the Philippines, the company revealed in its latest announcement. Openbet will be supplying fixed odds games, locally known as Instawin, to PGI and its Philippine subsidiary IEST for use on terminals to be deployed in PAGCOR's endorsed gaming venues throughout the Philippines. PAGCOR is a well-known operator providing and regulating bingo services, e-Games Cafes, poker rooms, casinos and VIP clubs nationwide. Each terminal, provided by IEST, will be connected to the internet and will feature fixed odd (Instawin) games supplied by OpenBet, to complement its existing sports betting offering. So far, over 60 games have already gone live in existing PAGCOR‟s authorised outlets including popular titles such as Cash Drop, Lucky Reactors and Caddy Scratch, with more titles expected in future. PGI targets over 500 terminals containing OpenBet content to go live in 2012, with more planned to be subsequently deployed throughout the Philippines. “The Asian market is a fast growing, important market with an ever-evolving regulatory environment. This supplier agreement gives us a first-mover advantage with one of the Philippines‟ early licence holders. As the gaming industry in this region develops and grows, so too will OpenBet through this key partnership with PGI,” said David Loveday, CEO at OpenBet. “When undertaking any form of internet-based gaming in a market where regulation is at an early stage, it is imperative that you surround yourself with suppliers that understand the legal boundaries. When choosing a partner to supply our Instawin fixed odd games, OpenBet was the natural choice. They are a market leading software supplier with an unquestionable reputation for probity and we look forward to working with them going forward,” added Carl Wahlin, director and business development manager at PGI. According to the PwC Gaming Report, the Asia Pacific region has a CAGR of 18.3% with the Philippines having the second largest at 20.3%. It is expected that the region‟s total gaming revenues will top US$67 billion by 2013.