|In the Philippines, IPVG Corporation subsidiary IP-Converge has entered into a joint venture with First Cagayan Leisure and Resort Corporation (FCLRC) to create a data centre providing hosting services for online gaming companies based abroad.|
FCLRC will hold a 60-percent stake in the new endeavour, called First Cagayan Converge Data Center Incorporated, for an investment of between three to five million dollars.
According to Rene Nunez, Vice-President for FCLRC, the firm already hosts around eight foreign companies in Cagayan operating online casinos and the new enterprise will be based in an IT park at the Cagayan Special Economic Zone (CSEZ) in Santa Ana, about two hours away from the capital of Tuguegarao City. Nunez revealed that most of these gaming companies operate in the Asia-Pacific region including Macau with some running both web-based and land-based casinos. CSEZ is the only area in the Philippines where the hosting of online casinos is permitted and FCLRC revealed that it would soon begin migrating all of its current operations from its offices in Makati City to the new Centre in Cagayan.
'By law, we cannot take in bets from the Philippines and the United States but we manage the IP traffic,' said Nunez.
FCLRC revealed that it is also building a resort in the Zone for client-operators bringing players to Cagayan.