Good economic result due to online gambling industry
July 14, 2009, 8:06 am (8 years ago)
According to Stock Exchange-listed gambling firm PhilWeb Corporation, profits for the first six months of the year went up by 52%. This is mostly because of the strong achievement of its Internet gambling industry.
In an announcement, the company said its net profits hit 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 profits of P122.9 million, a 128 % augment from the same quarter last year. The company states that the growth was due to higher revenues from its PAGCOR e-Games Cafe Network.
“Our expansion pace keeps on going to speed up as we open more of our PAGCOR e-Games Cafes,” PhilWeb President Dennis Valdes stated.