PhilWeb revenues nearly triple in first semester
PhilWeb Corp. said its revenues grew nearly three-fold in the first half to P176.2 million as the number of its gaming stations increased.
In the second quarter alone, revenues surged 144 percent to P95.1 million.
PhilWeb president Dennis Valdes said the number of outlets availing of the electronic gaming system has increased to a total of 54 locations, including two outlets dedicated to e-bingo.
The launch of a second set of games using Habanero software has also contributed to the growth in revenues.
Gregorio Ma. Araneta III, chairman of PhilWeb, said he was “deeply committed to getting PhilWeb back to its former profitability levels, during which times we were able to pay out high dividends to stockholders and generate significant share price increases as well. “
“We believe those times will come back soon, as operators gain more trust in our service quality and PAGCOR sees the consistently increasing remittances that we deliver to them for their various charitable programs,”PhilWeb said.
PhilWeb is an accredited service provider to the Philippine Amusements and Gaming Corp. for its network of electronic gaming outlets.