PhilWeb submits plan to address negative equity after PSE inquiry

Philippines

Viviana Chan

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April 28, 2026

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PhilWeb submits plan to address negative equity after PSE inquiry

PhilWeb Corporation has submitted a plan to the Philippine Stock Exchange (PSE) to restore its negative shareholders’ equity, clarifying that the deficit is primarily due to the accounting treatment of treasury shares rather than operational underperformance, according to a filing on Monday.

The submission was made in response to a PSE inquiry regarding the company’s negative equity position, as disclosed in its 2025 annual report and first-quarter 2026 financial results. In its reply, PhilWeb said it had provided an updated plan detailing ‘the activities it will undertake, together with the corresponding timetable, to restore its stockholders’ equity from negative to positive.’

As of March 31st, 2026, PhilWeb reported negative shareholders’ equity of PHP240.5 million ($4.0 million), an improvement from PHP254.4 million ($4.2 million) at the end of 2025. The company emphasized that the shortfall does not stem from weak operations but from the accounting impact of treasury shares.

The company also formally undertook to comply with all applicable requirements under the exchange’s Guidance, including timely disclosures and submission of necessary approvals related to its recovery plan.

According to the filing, PhilWeb’s recovery strategy focuses on four areas: revenue growth and operational expansion, cost management, capital stock subscription, and treasury share reissuance.

PhilWeb reported a return to profitability in the first quarter of 2026, with net income of PHP13.9 million ($229,000), compared with a net loss of PHP25.5 million ($420,000) a year earlier. Revenues rose 30.4 percent year-on-year to PHP233.1 million ($3.8 million), driven mainly by its online e-gaming solutions segment.

To strengthen its financial position, the company plans to expand its electronic gaming system network, launch new gaming content, and integrate its platform with digital payment services. Cost optimization measures are also underway, including the closure of six non-performing sites, generating estimated monthly savings of PHP2 million ($32,900).

On the capital side, PhilWeb aims to raise equity by subscribing to up to 923.6 million unissued shares over a three-year period through 2027, alongside the potential reissuance of more than 300 million treasury shares.

Belle Corp. 1Q26 share of City of Dreams Manila gaming revenue increase 12% to $8M

Viviana Chan

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April 27, 2026

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Belle Corp. 1Q26 share of City of Dreams Manila gaming revenue increase 12% to $8M

The growth reflects the continued contribution of City of Dreams Manila to Belle’s earnings, driven by its stake in Premium Leisure Corp. (PLC), which holds the gaming revenue share through its subsidiary Premium Leisure and Amusement, Inc.

The increase comes amid a challenging operating environment for the Philippine gaming sector, as land-based casinos face intensifying competition from online platforms alongside fluctuations in inbound tourism.

City of Dreams Manila remains a key income driver for Belle, alongside stable lease revenues from the integrated resort’s land and buildings, which totaled PHP588 million ($9.7 million) during the period. The property, located in Entertainment City, is operated by Melco Resorts and Entertainment (Philippines) Corporation under a long-term lease agreement, with Belle acting as both landlord and gaming revenue participant.

Overall, Belle reported consolidated net income of PHP524 million ($8.6 million) for the three months ended March 31st, up 13 percent from PHP462 million ($7.6 million) a year earlier. Total revenues rose 9 percent year-on-year to PHP1.42 billion ($23.4 million), supported by higher contributions from both gaming and non-gaming segments.

Beyond its exposure to City of Dreams Manila, Belle’s real estate operations also recorded notable growth. Revenues from its Tagaytay Highlands developments increased by 57 percent to PHP143 million ($2.4 million), while income from distribution utilities rose 18 percent to PHP72 million ($1.2 million).

Meanwhile, Pacific Online Systems Corporation, a lottery equipment leasing business in which PLC holds a 50.1 percent stake, delivered stable revenues of PHP129 million ($2.1 million) for the quarter.

Belle Corporation is a Philippine-listed developer of gaming and leisure properties, with its core assets centered on City of Dreams Manila and premium residential developments in Tagaytay.

The company derives income from a combination of lease agreements, gaming revenue participation, and real estate sales, positioning it as a hybrid property and gaming investment vehicle within the Philippine market.

The measures, referred to by the Gambling Commission as financial risk assessments, have been piloted in recent months. Early issues included inconsistencies between credit reference agencies, which in some cases produced different outcomes for the same customer. Despite this, the regulator has defended the initiative, with senior officials suggesting criticism has been “ill-informed or inaccurate” in its first substantive update on the pilot in nearly a year.

Engelbrecht-Bresges said findings from the International Federation of Horseracing Authorities indicate that the introduction of affordability checks has coincided with a significant increase in traffic to offshore betting sites not licensed in Great Britain. “The regulators only see the local situation,” he said.

“Some of their measures are ill-measured because you have to think not only about perception, but about consequences.” He added that the checks risk functioning as a “box-ticking exercise,” pushing consumers toward unregulated operators and potentially exacerbating harm rather than mitigating it.

The concerns come as the UK government weighs whether to proceed with a broader rollout of affordability checks, potentially as early as next month. Industry opposition has intensified, with more than 400 figures from British racing recently calling on Culture Secretary Lisa Nandy to halt implementation.

At the same time, projections suggest the scale of the unregulated market could continue to grow. New analysis cited during the discussion estimates that black market operators could spend up to GBP1 billion ($1.35 billion) on advertising in the UK by 2028, potentially surpassing the combined spend of licensed firms.

The Hong Kong Jockey Club chief has previously highlighted the risks posed by illegal gambling channels. In its latest annual results, the Club reported total betting and lottery turnover rising 5 percent year-on-year to HKD320 billion ($40.9 billion) for the 2024–25 period, while warning of a “rising threat” from unlicensed operators.

Beyond affordability checks, Engelbrecht-Bresges also pointed to structural issues within British racing, including debates around transparency in barrier trials. He contrasted this with Hong Kong’s approach, where trials are routinely filmed and timed for public access. He further suggested that the influence of fixed-odds bookmakers on UK policy-making may be distorting regulatory outcomes, describing the dynamic as “not healthy for an industry.”

Looking ahead, Engelbrecht-Bresges emphasized the potential role of the Hong Kong-led World Pool in shaping global racing standards. He indicated that participation in the initiative could increasingly be tied to minimum requirements around transparency and data provision. “The World Pool has a massively positive impact on the industry,” he said. “You cannot ask to be part of it and not play a full part.”

He added that revenues generated through the pool could be directed toward broader industry priorities, including horse welfare, scientific research, and the development of common standards across jurisdictions.

More broadly, Engelbrecht-Bresges framed the current moment as a critical juncture for global racing, calling for coordinated decision-making to secure long-term sustainability. While expressing support for reform efforts previously outlined by former British Horseracing Authority chair Lord Allen, he cautioned against moving too quickly without securing industry alignment.

“Racing is in an essential moment, not a crisis,” he said. “It has to decide what the future is.”

PNP spokesperson Brig. Gen. Randulf Tuaño said the Talisay case forms part of a broader investigation that also covers the March 24th raid in Tondo. The earlier operation targeted a suspected e-sabong hub at the Coliseo de Manila, where authorities arrested 28 alleged operators and 136 bettors. Legal counsel for the venue denied any links between the coliseum and Ang.

In the Talisay raid, authorities detained 30 individuals, with three suspects still at large, according to Criminal Investigation and Detection Group spokesperson Maj. Helen dela Cruz. Remulla has also alleged that Ang and a former regional CIDG official, Maj. Edgar Tonico Jr., may be tied not only to the e-sabong operations but also to an illegal cigarette manufacturing network operating in Bacolod City and Bago City.

Authorities reported that the illicit manufacturing facility, uncovered earlier in the week, yielded nearly PHP800 million ($13.6 million) worth of contraband and equipment. Ten Chinese nationals were arrested in connection with the operation, while two additional suspects remain at large.

Eeze bolsters senior leadership through strategic internal promotions

Elsewhere

AGBrief Editorial

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April 27, 2026

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Eeze bolsters senior leadership through strategic internal promotions

Eeze, the innovative next-generation casino supplier, has promoted key internal talent to senior leadership roles, fueling its operational scaling and bolstering critical business areas.

Leading the newly repositioned People Function, Aarti Carl has been appointed Chief People Officer. Formerly HR, the function has been redefined to better reflect Eeze’s focus on culture, employee experience, and organisational development.

In her new role, Carl will continue championing the company’s inclusive workplace, driving people strategy to support its next phase of growth.

Aarti Carl has been appointed Chief People Officer at Eeze — _{Aarti Carl}

Further strengthening the executive team, Kurt Vella has been named Chief Legal Officer, where he will oversee Eeze’s global legal and compliance strategy.

In addition, Shaun Cini has been promoted to Vice President of Finance, where he will continue to play a key role in supporting strategic decision-making as the company.

Lai Fatt Chiang, Chief Executive Officer at Eeze, said: “These appointments reflect both the strength of our internal talent and our commitment to building a leadership team that can support our continued growth. Aarti, Kurt, and Shaun have each made a significant impact on the business, and I am confident they will continue to play a key role in shaping our future.”

At Booth B1338, TCSJOHNHUXLEY will unveil intelligent software and advanced display tech crafted to boost table profitability across the gaming floor. Building on its renowned core products, this year’s showcase highlights how data insights and smart hardware can elevate operations for today’s operators.

Building on over 50 years of manufacturing expertise, TCSJOHNHUXLEY continues to deliver innovations that go beyond traditional equipment—offering a complete, long-term partnership for casinos worldwide.

Showcasing at G2E Asia 2026

T-Connect 2

A major highlight of the exhibition will be the introduction of T-Connect 2, the latest evolution of the company’s comprehensive table management system. This sophisticated software ecosystem integrates smart sensors to provide real-time data insights, empowering operators to optimise their gaming floors with a modular and flexible approach to game management. T-Connect 2 serves as the central hub for the connected pit, enhancing security and streamlining operations for numerous casinos across Asia.

Ora Vue Blackjack Display Controller

The company will also showcase its latest display innovations, including the Dynamic Display System (DDS) and the versatile Ora Winning Number Display range – renowned for its exceptional clarity, customisation, and reliability in presenting critical game information. A key highlight will be the groundbreaking Ora Vue Blackjack Display Controller, which introduces a new dimension to the game through advanced camera recognition technology that enables automatic card entry.

This intelligent system enhances the player experience by delivering real-time access to hand histories, live odds, and historical statistics – making gameplay more engaging, transparent, and accessible for players of all levels. The Ora Vue Blackjack Display Controller integrates seamlessly with the Ora Luxe Winning Number Display, creating a fully connected and visually refined solution for the modern gaming floor.

Supernova Progressive Jackpot System

To drive further excitement, TCSJOHNHUXLEY will demonstrate its widely popular Supernova Progressive Jackpot System, a unique and customisable platform designed to drive player engagement and heighten excitement across the gaming floor. This unique system allows operators to create bespoke jackpot configurations tailored to their specific gaming floor, offering a seamless blend of traditional gameplay and modern rewards.

TCSJOHNHUXLEY spotlights smart software & table tech at G2E Asia 2026 — _{Supernova Progressive Jackpot System by TCS}

Chipper Champ 3

Further highlighting the company’s commitment to operational excellence is the highly anticipated Chipper Champ 3, representing a significant step forward in the digital transformation of table operations. Featuring an advanced sorting hub that delivers pinpoint accuracy alongside real-time connectivity, the system is powered by a re-engineered engine designed for superior performance. By streamlining chip handling and improving efficiency, Chipper Champ 3 reinforces its position as the industry benchmark for Roulette operations.

Commenting on the highly anticipated G2E Asia showcase, Rebecca Kingswell, TCSJOHNHUXLEY Global Head of Operations and Managing Director APAC, said: “G2E Asia 2026 is an exceptional platform for us to showcase our commitment to industry leading innovation. We are excited to meet with our partners in the region to demonstrate how our latest developments can transform table performance and drive measurable growth. Our focus remains on delivering the high-impact solutions that operators need to succeed in an evolving marketplace.”

Visiting the TCSJOHNHUXLEY stand offers more than a product showcase—it’s a chance to see why casinos worldwide trust them as a long-term partner. Attendees can explore one of the industry’s most comprehensive live gaming portfolios, from traditional craftsmanship to cutting-edge electronic systems. The expert team stands ready for personalized consultations to tackle specific operational challenges and show how innovation, quality, and support drive lasting value.

QTech Games appoints Iryna Alabuhina to lead growth in Europe

Europe

AGBrief Editorial

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April 27, 2026

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QTech Games appoints Iryna Alabuhina to lead growth in Europe

QTech Games, a leading game aggregator powerhouse, has announced the appointment of Iryna Alabuhina as its new Head of Commercial – Europe, as it bids to broaden its footprint across this mature iGaming region in a concerted, commercially driven expansion.

Irynanow brings her experience and commercial know-how in the igaming industry to bear at QTech Games. Most recently, Iryna worked as Senior Account Manager at the aggregator Hub88, where her focus was to work with top-tier operators and Hub88 across multiple international markets.

Previously, Irynahas also worked in a series of progressively senior business development and platform-management roles across a host of familiar igaming brands, starting out at fellow aggregator SOFTSWISS as a Business Account Manager, supporting digital casinos across EU and CIS markets, and enhancing both performance and portfolios.

This role equipped Iryna with a strong 360-degree understanding of platform operations, including content, payments, marketing, and affiliation. Subsequently, she went on to join Evolution, the industry’s leading live-casino provider, where Irynaspecialized in managing large CIS clients and platforms. This experience allowed her to deepen her expertise from platform-side operations to supplier-side strategy and client growth.

Moreover, across all these positions of increasing rank, Iryna displayed a keen eye for brand-building and executing commercial strategies, alongside fostering an extensive network of influential industry contacts.

Commenting on the appointment, QTech Games CEO Philip Doftvik said: “We’re delighted to have secured Iryna’s broad expertise and sharp sales skills for this dedicated commercial-lead role at QTech, as we continue to strengthen and scale up our influence across Europe. Aside from her fantastic experience, Iryna is a great cultural fit with QTech and a person with the right mindset that will help us grow even faster. We’re thrilled with Iryna’s fast start as a team player and leader, especially as QTech crosses the threshold of our next growth cycle, consolidating our incumbent position as the dominant aggregator for emerging markets.”

The new Head of Commercial for Europe at Qtech Games, Iryna Alabuhina, added: “I’m excited to join QTech Games as Head of Commercial for Europe, focusing on strengthening existing partnerships and driving new business growth. QTech is an aggregator renowned for its team morale and collaborative ethos, not to mention some defining points of delineation in the aggregation space. […] I was also struck by QTech’s unique commercial model, rich portfolio, and enterprising mindset. I’m now looking forward to broadening our horizons and partner-base still further, as I head up a talented commercial team for Europe, assembling the best online games and taking them to market across some territories of great potential.”

LaFija players now have access to Zitro Digital’s complete online library, a portfolio rooted in the company’s proven land-based success. The offering includes high-performing slots such as ‘King Fu Frog’, ‘Legendary Sword’, and ‘Cash Totems’, alongside Zitro’s signature Video Bingo collection—all specifically optimized for a premium digital experience.

“Zitro is a brand our players know and trust,” said Debora Camacho, Marketing Manager at LaFija. “Adding “Bringing their renowned slots and bingos to our online lobby allows us to offer a more competitive, high-quality portfolio that resonates perfectly with the local market.”

For LaFija, the integration of these titles capitalizes on a brand that already carries significant weight and player trust in Peru’s land-based casinos, providing high-performing content designed to drive long-term engagement and consistent revenue growth.

Commenting on the launch, José Javier Martí, COO at Zitro Digital, said, “Launching with LaFija.com strengthens our presence in Latin America and allows us to deliver content that operators can rely on for consistent performance. Peru is an important market for us, and we are focused on supporting operators with games that combine high player retention with proven results.”

Metasports Interactive, a mobile-first competitive sports gaming company, has secured $20 million in UA (User Acquisition) funding from London-based growth financing firm Metica. The investment will fuel accelerated growth for the company’s flagship competitive multiplayer cricket game, Hitwicket.

The capital will be deployed towards scaling marketing and user acquisition, as the studio targets its next phase of global expansion. The funding comes alongside a technology partnership, with Metica deploying its proprietary platform to optimise Hitwicket’s in-game revenue performance, strengthening the unit economics that underpin the studio’s growth model.

Co-founded by Kashyap Reddy and Keerti Singh, Metasports Interactive with its flagship title Hitwicket, has built a player base of over 18 million users across 109 countries since its launch. Its strong monetisation metrics, deep player retention, and the consistent quality of its user acquisition data gave Metica the confidence to deploy capital at scale. With this funding, Metasports Interactive is targeting approximately 8x growth over the next 18 months, driven by intensified marketing in priority international markets, AI-led targeting strategies, and continued investment in product depth.

Commenting on the landmark funding, Kashyap Reddy, Co-Founder and CEO, Metasports Interactive, said, “With Hitwicket, our vision is to reach over a billion cricket fans globally and build a truly world-class gaming business from India. This partnership with Metica gives us the capital and the tools to move faster in international markets without diluting ownership. We’re proud to be among the first Indian gaming companies to access this kind of structured UA funding, and we see it as a model that can unlock real scale for studios with strong fundamentals.”

UA funding, a new financing model, has been gaining momentum in the global gaming and consumer apps industry. As user acquisition is one of the biggest cost factors for gaming and consumer apps companies, this growth model is increasingly emerging as a smarter way to scale given its non-dilutive, performance-led growth mechanics. The model is now popular across the United States, Europe, and Southeast Asia, where it has become a standard tool for scaling mobile titles efficiently.

Phil Mohr, CEO, Metica, added, “User acquisition funding is reserved for companies that demonstrate strong unit economics and repeatable growth. Metasports Interactive stood out because of Hitwicket’s ability to scale efficiently across both India and global markets. We see a major opportunity not only to provide growth funding, but also to support growth through our technology by helping optimise in-game revenue to increase lifetime value. We’re excited to partner with Metasports Interactive as they build a globally competitive gaming business from India.”

As Indian gaming companies mature, building internationally competitive products, adopting rigorous data practices, and demonstrating the kind of predictable growth curves that capital providers require, game developers are increasingly attracting the attention of global investors and financiers with alternative financial instruments. Metasports Interactive’s UA funding deal with Metica is a signal of this shift.

Hengqin Port hits 100M crossings, boosting Cotai access

Macau

Viviana Chan

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April 27, 2026

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Hengqin Port hits 100M crossings, boosting Cotai access

Hengqin Port has handled more than 100 million passenger crossings as of April 24th, marking a significant benchmark for the checkpoint since its opening in August 2020.

Located just hundreds of meters from Macau’s Cotai Strip, where the city’s major casino resorts are concentrated, the port has emerged as a critical gateway supporting cross-border tourism and gaming-related traffic.

According to data released by Hengqin authorities, visitors made up the largest share at 35.3 percent, followed by Macau residents at 26.2 percent of total crossings over the period. Non-local workers accounted for 20.8 percent, while non-Macau university students represented 17.1 percent.

Vehicle traffic has also grown steadily, with more than 11.7 million crossings recorded in under five years. Xinhua News Agency described the figures as indicating Hengqin Port’s rise as one of the busiest checkpoints in the Greater Bay Area.

Zeng Xiang, deputy chief of the Hengqin Immigration Inspection Station, said daily passenger flow has increased from around 20,000 in the early stages of operation to approximately 100,000, representing average annual growth of more than 40 percent. In 2025 alone, annual crossings exceeded 30 million for the first time, up 32.9 percent year-on-year.

The development comes as Macau’s tourism sector continues to recover. The city recorded 11,213,904 visitor arrivals in the first quarter of 2026, up 13.7 percent year-on-year, with full-year arrivals projected to reach around 41 million.

PhilWeb submits plan to address negative equity after PSE inquiry

PhilWeb Corporation has submitted a plan to the Philippine Stock Exchange (PSE) to restore its negative shareholders’ equity, clarifying that the deficit is primarily due to the accounting treatment of treasury shares rather than operational underperformance, according to a filing on Monday.

Belle Corp. 1Q26 share of City of Dreams Manila gaming revenue increase 12% to $8M

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HKJC chief warns of unintended consequences from UK betting reforms

Hong Kong Jockey Club (HKJC) CEO Winfried Engelbrecht-Bresges has warned that affordability checks being rolled out in Britain risk driving bettors toward unregulated markets, adding pressure on racing jurisdictions globally.

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Philippines police probe alleged links between Atong Ang and illegal e-sabong operations

The Philippines National Police (PNP) is investigating potential links between gambling tycoon Charlie ‘Atong’ Ang and an alleged illegal online cockfighting (e-sabong) operation uncovered in Tondo, Manila.

Eeze bolsters senior leadership through strategic internal promotions

Eeze, the innovative next-generation casino supplier, has promoted key internal talent to senior leadership roles, fueling its operational scaling and bolstering critical business areas.

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