Ongpin-led PhilWeb's profits breach P1-B in 2012


Posted at Jan 31 2013 11:35 AM | Updated as of Jan 31 2013 07:35 PM

MANILA, Philippines - Gaming solutions provider PhilWeb Corp. on Thursday said its net income rose 20% to P1.1 billion in 2012 from year-ago levels.

"The performance was driven by excellent results from all the company's operations, especially in its new businesses in the Asia Pacific region," the firm said in a disclosure to the stock exchange.

The fastest growth was seen from the firm's scratch card businesses in Cambodia and Timor Leste, and from a Sweeps Center in Guam.

The firm is also eyeing to open its first e-Games cafe or an outlet dedicated to casino games in Timor Leste "soon."

Dennis Valdes, company president, stressed PhilWeb's e-Games cafe business in the Philippines remains strong. Moreover, it has recently set up a company to produce electronic gaming terminals for export.