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Gambling: Philweb 52 percent growth in profits for the first six months of 2009
Positive news from the Philippines, where Philippine Stock Exchange-listed gambling firm PhilWeb Corporation has reported a 52 percent growth in profits for the first six months of the year, mainly owing to the strong performance of its Internet gambling business.
In a statement, the company said its net income reached P227.6 million as of end-June 2009 from P149.6 million in the same period in 2008.
From April to June, PhilWeb had a core net income of P122.9 million, a 128 percent rise from the same quarter last year. The company attributed the growth to higher revenues from its PAGCOR (Philippine Amusement and Gaming Corp.) e-Games Cafe Network.
"Our growth pace continues to accelerate as we open more of our PAGCOR e-Games Cafes," PhilWeb President Dennis Valdes said. The company opened 29 e-Games cafes as of end-June, bringing PhilWeb's total Internet gambling shops to 150.
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Valdes said PhilWeb usually performs more strongly in the second half of the year, adding that June 2009 has been the company's best performing month so far.
"All our three business segments performed well, with the Internet Sports Betting Stations and Mobile Gaming businesses also achieving their targets for the month," he said.
To further spur growth, Valdes said PAGCOR would introduce a new logo to differentiate e-Games cafes from its other outlets.
"The new e-Games logo is already being installed in all our existing cafes and in the new ones that will be opened soon," he said, adding that other marketing efforts for the e-Games cafes have been intensified
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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.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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