MANILA, Philippines -- A listed gaming firm that operates the Netopia chain of internet cafes will venture into the tourism business.
IP E-Game Ventures Inc. told the local bourse that its board approved changes to its Articles of Incorporation, expanding the company's primary purpose beyond gaming and content distribution to include food and beverage, entertainment, hotel and leisure.
E-Game's board also authorized management to look for a new name to reflect the company's expanded mandate. The board resolutions would be presented to stockholders as of February 23 in a meeting on March 22.
Besides offering multiplayer online role-playing games (MMORPGs) and other casual online games, E-Game operates the country's biggest internet cafe chain after it bought Netopia, CyberOne, and three-fourths of I.T. Log Park.
The company offers a portfolio of online games including massively multiplayer online role-playing games or MMORPGs, and casual online games.
From 160 stores, E-Game plans to expand its network to 1,000 in the next two to three years, contributing revenues estimated at P5 billion a year.
The company recently signed up as the official website operator of the National Basketball Association for the Philippine market. E-Game is also the exclusive distributor of Blizzard Entertainment International, the developer of Warcraft, StarCraft, and Diablo.
E-Game shares fell to P0.197 on Thursday from P0.199 the day before.
source: interaksyon.com
