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Philippines Online Gambling COmpany 30% Rise in Earnings
PhilWeb Corporation, the listed Philippines’ Internet company, has reported earnings in 2008 FY up by over a third on the back of higher revenues, reports GMA News.
The Corporation reported to the Philippine Stock Exchange that its bottom line rose 31 percent to P292 million on revenues of P450 million, an expansion of 68 percent.
Dennis Valdes, president of PhilWeb, attributed the strong financial performance of the group to the excellent results posted by the Philippine Amusement and Gaming Corp. e-Games Cafe network operated by the company.
"We ended 2008 with 121 cafes, a growth of 45 new cafes for the year. Clearly consumers are gradually noticing our cafes as their number increases, and the almost 20 000 gamblers that play with us daily are pleased with the gaming and entertainment products we offer," said Valdes.
He added that the P206-million in positive cash flow last year showed strength in the gaming market.
"We believe this is a recession-proof business, as our strongest month last year was December. During that month, despite all the holidays which normally dampen our volumes, our PEGS Cafe network broke all records. We set the record for total Gross Bets in one month, with a total of P5.5 billion. In one day alone, we set a record, with P239 million in Gross Bets. The Casino Win was also record-setting, with a record of P167 million for December, the best ever for the business," Valdes said.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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