Tuesday, June 13, 2006

As reported by the INQ7.net: "After being granted the government license to
operate the first Philippine-based online sports betting exchange, local
startup Inter-active Entertainment Solutions Technologies (IEST) is set to
make a splash in the Asian market estimated to be worth one billion dollars,
a company executive told INQ7.net.".IEST is considered the licensed
technology provider of the Philippine Amusement and Gaming Corp. (PAGCOR),
which has granted license to the local company to run this online sports
betting exchange in the country, according to Emil dela Cruz,
officer-in-charge of IEST in an interview. ".Projecting to make 5 million
pesos in revenues on its first year of operations (mainly from commissions
it will collect from winning bets), xchangebet.com will require people to
register."