The PhilWeb Corporation, the internet gaming Technology Company, has issued its financial records of the 1st half of this year.
These records are unaudited but they have indicated a very noticeable increase in net income. The increase was equal to thirty percent over last year’s same period.
The net income was equal to 480 million PHP which is equivalent to 11.5 million dollars. PhilWeb is considered one of the biggest, if not the absolute biggest internet gambling company in the Philippines.
The records also stated that the revenues of the 1st half of this year also seen an increase of twenty four percent from last year as it reached 692 million PHP which is equivalent of 16.56 million dollars. This increase in revenue is a result of the great success of PhilWeb’s scratch cards business in both East Timor & Cambodia.
The President of the company, Dennis Valdes, stated that his company has signed a memorandum with Thakhek Specific Economic Zone’s Executive Board in Laos.
This deal gave his company the right to build a gambling casino on 2 hectares of lands in the border of the Economic Zone.
He continued and said that this zone is on the border that lies between Thailand and Laos and the company predicts that this new project is going to be a huge source of revenue to the company in the upcoming future.