BIZ BUZZ: Okada’s digital bet

Okada Manila’s online gaming push is picking up speed—and PhilWeb chair Lance Gokongwei is looking beyond its first P100-million milestone.

Okada Play, powered by PhilWeb, surpassed P100 million in monthly gross gaming revenue (GGR) in October, within six months of its May launch. Daily active users also exceeded 100,000.

Betting turnover and GGR grew by about 50 percent from the previous month, according to the companies.

PhilWeb now sees other partner platforms potentially crossing the same monthly GGR threshold before year-end.

“We are encouraged by the significant acceleration in October and believe the platform is well-positioned for its next phase of growth,” Gokongwei said.

Another potential earnings contributor is PhilWeb’s pending investment in JKS Tech Solutions.

The previously announced cross-investment arrangements include JKS acquiring PhilWeb shares at P16.50 each.

Once the transaction is completed, PhilWeb expects to book its proportionate share of JKS earnings.

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For now, Okada Play offers more than 4,000 gaming titles from over 20 content providers, with more content and customer acquisition efforts planned.

The next scorecard: how many more partner platforms can join the P100-million club?

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