Philippine-based gaming technology provider PhilWeb Corp. is set to acquire 15 eGames parlors, which form part of the Philippine Amusement and Gaming Corporation (PAGCOR) network.

In a filing before the Philippine Stock Exchange, PhilWeb said that its board has given the go-signal to buy the stations after its talks with PAGCOR to revive its license to operate e-Games stations failed.

“We continue to be bullish that we will be able to renew our license with PAGCOR at some time in the near future,” President and Corporate Information Officer of PhilWeb Dennis O. Valdes said, according to BusinessWorld. “We also wish to support those operators that we have worked with over the past 14 years. Some currently wish to exit the business so we are offering them an ability to exit by selling us their businesses in exchange for WEB shares.”

During its heyday, PhilWeb has remitted more than P14 billion to PAGCOR, which the state regulator uses to fund government projects. It also has employed 700 personnel and 5,000 others as eGames operators.