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PhilWeb Income Up in 2012

Thursday November 8,2012 : PHILWEB CONSOLIDATED TOTAL REVENUE UP 30 PERCENT
 
Growth driven by Asia Pacific subsidiary
 
Manila-based land and online gambling group Philweb reported an increase of net income for the first three quarters of 2012 amounting to P 681 million (GBP 10.4 Million), 24 percent higher than the previous year which the company attributed to an excellent performance from its e-Games cafes or PEGS that it operates on behalf of PAGCOR.
 
PhilWeb's Asia Pacific subsidiary, operating in the scratch card sector in Timor Leste and Cambodia and a Sweeps centre in Guam, delivered the fastest growth contributing 8 percent of total company revenues.  Consolidated total revenue was reported as P 1.08 billion, 30 percent higher than the same period in 2011.
 
“We continue to focus on growing our businesses in Asia Pacific, and also our new foray into building gaming terminals both for PEGS and for non-related gaming businesses in the region. As we noted earlier this year, we believe that Asia Pacific will be the driver of revenue growth for PhilWeb in the years to come,” commented Dennis Valdes, president of PhilWeb.
 
Mike Grandinetti, president of PhilWeb Asia Pacific, added:  “We have just received approval from the government of Timor Leste to begin the construction of a new electronic gaming cafe in that country, and are in the midst of building our second sweepstakes cafe in Guam. The electronic gaming cafe will be our second business in Timor Leste and, together with Guam, signal the increased growth of PhilWeb Asia Pacific for PhilWeb in 2013 and beyond.”



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

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NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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