PhilWeb Corp. recorded profit of P5.6 million in the first quarter of the year, down 22.22 percent from P7.2 million in the same period last year.
Revenues reached P181.7 million, up 32 percent from last year.
“This result follows the earlier reported 2021 total revenues of P538 million, doubling from 2020’s total revenues of P265 million,” it said.
PhilWeb said earnings before interest tax depreciation and amortization was at P32.1 million
PhilWeb’s regulated gaming solutions presently cover more than 150 eGames and eBingo venues nationwide, increasing from 75 locations at the end of 2020.
“COVID community quarantine restrictions kept our patrons from visiting gaming venues from April to October last year. But the timely launch of our egamescasino.ph Remote Gaming Platform at the end of March 2021 allowed our partners to continue to provide safe and legal gaming services to their registered patrons, in the safety of their own homes,” said Brian Ng, PhilWeb president.
