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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.”



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.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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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