Philippines IT solutions and gaming provider DFNN Inc has revealed plans to introduce e-sabong, or online cockfighting, as a new source of gaming content under license from gaming regulator PAGCOR.
The company said via a Philippine Stock Exchange announcement on Thursday that e-sabong would be offered via one of the groups affiliates which currently provides RNG Games, virtuals, and Live Dealer Content, focused on the Single-Event, Multi-Player format.
DFNN is one of two companies referenced by PAGCOR chair Andrea Domingo earlier this week as having been granted authority to operate e-sabong after completing payment of a Php75 million (US$1.6 million) performance bond. PAGCOR is allowing operators to offer the product as a means of increasing revenue in response to the impact of the COVID-19 pandemic.
With the legalization of e-sabong, regulator PAGCOR is ready to tap revenues from electronic cockfights or e-sabong, DFNN said.
Given the experience and reach of the Groups gaming platforms, it is well positioned to take on this new vertical in line with the PAGCOR rules of their approved content as it has unparalleled capabilities in secure payment solutions, KYC solutions, logistics capabilities, and proprietary IT knowledge to be able to scale rapidly and seamlessly integrate the technology with its other content.
This will enable the Group to deploy and realize value from e-sabong and funnel legal revenues to the government amid the proliferation of unregulated e-sabong on various social media platforms.
DFNN became the first company to receive a license from Philippines gaming regulator PAGCOR earlier this year to offer domestic online gaming services under the nations PIGO scheme.
It also holds a 19% stake in HatchAsia Inc, which recently completed a takeover of Australian-listed Southeast Asian casino operator Silver Heritage Group.