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Online Casino News - July, 2008

Cagayan Tribe Expands Online Gambling IT Operations

 

 

  Seed Newsvine

by Elizabeth Nguyen, News Staff Writer

July 2, 2008

The Cagayan tribe (Philippines) is reportedly in the process of consolidating a second hosting data center with the specific aim of providing online gambling hosting services for foreign internet betting operations. As recently reported in the Manila Inquirer, the First Cagayan Leisure and Resort Corp. has teamed up with IPVG Corporation's subsidiary, IP Converge, to concentrate all of their hosting and IT services in a new facility located at the Cagayan Special Economic Zone (CSEZ) IT park.

The only economic zone permitted to license online casinos and other internet gaming operations, the CSEZ has become a hub for the First Cagayan Leisure and Resort Corp. (FCLRC). Having already secured hosting for eighteen different companies at their main IP Converge facility at the RCBC Tower in Makati City, FCLRC is now seeking to consolidate IT operations with eight more foreign online betting companies already based out of Cagayan.

According to the Vice President of FCLRC, Rene Nunez, the total investment in the new facility is between $3 million and $5 million, which will no doubt be paid off in a short period of time if more online casino operations choose to host their servers in Cagayan. And with further expansion of the Asian facing online gambling market, things are looking good for the Philippine-based internet service.

Even with laws prohibiting FCLRC from taking bets from gamblers in the U.S. or Philippines, the new data center is expected to flourish. The Asian Pacific online gambling industry is expected to reach revenues of $10 billion. Besides, FCLRC and IP Converge are not in the business of taking bets like online casinos. They merely host the traffic...lots of traffic.


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