Gaming firm PhilWeb notches 20% net income growth in 2012

Asian gaming firm PhilWeb Corp. has reported a 20-percent year-on-year rise in its net income in 2012 to P1.1 billion. The fastest growth in the company was reported by PhilWeb's Asia Pacific subsidiary, which operates scratch card businesses in Cambodia and Timor Leste and a sweeps center in Guam. The Asia Pacific unit brought in 9 percent of total revenues, driving PhilWeb's consolidated total revenue line to P1.5 billion, a 27-percent improvement from 2011. PhilWeb Asia Pacific president Mike Grandinetti said that the company will soon be opening its firste-Games café in Timor Leste. “This expansion means that e-Games will now become a regional brand for PhilWeb's quality electronic gaming solutions,” he said. In the Philippines, the company has 277 e-Games cafés. It has also set up a company to produce electronic gaming terminals with a built-in bill acceptor, card reader and ticket-in, ticket-out printer. PhilWeb has also received a certification from the Philippine Economic Zone Authority (PEZA) for its new gaming terminal business, e-Magine Gaming Corporation. — BM, GMA News