PHILWEB Reported an Increase for Q1 in 2021

May 4, 2021 iGaming & Gambling

PhilWeb Corporation has reported a net income of PHP7.2m ($149,000) for Q1 2021, a 567% increase compared to the same period last year. Revenue grew by 8% to PHP137.9m and EBITDA rose by 98% to PHP28.9m. For the period, costs and expenses were PHP121.6 million, a 2% decrease.

the positive net income and EBITDA were partially impacted by the increase in the activities of the eGames and eBingo outlets. Recently, the company was approved by PAGCOR to operate its remote gaming platform that allows high-value customers to use PhilWeb gaming products outside of the designated venues.

To know more about this news, check out: https://europeangaming.eu/portal/latest-news/2021/04/29/91451/philweb-reports-a-567-increase-in-net-income-for-q1-2021/