Philippines: DFNN reports GGR of US$2m for Q2
DFNN Inc has posted PHP99.9m (US$2m) in gross gaming revenue (GGR) and a net loss of PHP44m (US$872,796) for the second quarter of the year.
The Philippines.- Gaming technology firm DFNN Inc has reported that revenue for Q2 grew 104 per cent year-on-year from PHP55.1m to PHP112.4m.
GGR reached PHP99.9m (US$2m). the company also reported a net loss of PHP44.0m (US$872,796) and a PHP30.7m loss on operations, a decrease of 56.9 per cent from PHP71.3m in Q2 2020.
For the first six months of the year, DFNN Inc recorded gross bets of PHP2.5bn through its InPlay.ph platform, and a total of PHP113.9m in GGR, up 618.7 per cent.
Calvin Lim, DFNN CEO, said: “The positive result of our revenue comparing the second quarters of 2020 and 2021 showing a 104 per cent increase, is due to the success of InPlay.ph.
“It is an undeniable success as customers now opt to use the same for the reliability and convenience that it offers.”
DFNN Inc received the first online casino licence in the Philippines last year through its interactive entertainment unit, which already had a PAGCOR licence to provide services to internet cafes in the country.
Online casino licences in the Philippines are regulated by a new system called PIGO (Philippine Inland Gaming Operator).
In May, PAGCOR allowed Solaire Resort and Casino and Resorts World Manila to launch online gaming products. The regulator had previously given Okada Manila permission to launch an online product.
