The electronic gaming outlet service provider’s gross revenue was up 4.8 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0PhilWeb Corporation has reported net profit of PHP224,929 (U$3,950) for the second quarter of the year. That compares to a net loss of PHP5.26m (US$92,356) for Q2 last year.<\/p>\n\n\n\n
Gross revenue was up 4.8 per cent year-on-year to PHP208.89m (US$3.66m) mainly due to a reduction in gross expenses, which fell by 1.5 per cent to PHP193.84m (US$3.40m). The company\u2019s balance sheet showed a slight decrease in current assets to PHP208.94m (US$3.66m) and reduction in total liabilities to PHP661.03m (US$11.6m).<\/p>\n\n\n\n
The company posted positive income before tax of PHP10.45m (US$183,384). For the first half of the year, gross revenue grew by 2.6 per cent to PHP414.15m (US$7.27m). PhilWeb operates 86 PAGCOR licenced video game cafes. On March 23, 2021, the company received approval to operate its Remote Gaming Platform (RGP).<\/p>\n","protected":false},"excerpt":{"rendered":"
The electronic gaming outlet service provider’s gross revenue was up 4.8 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":2822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PhilWeb Corporation reported a significant financial turnaround, moving from a net loss in Q2 last year to a net profit of PHP224,929 this quarter. This was primarily driven by a 4.8% year-on-year increase in gross revenue and a 1.5% reduction in gross expenses. The company, which operates 86 PAGCOR-licensed video game cafes and an approved Remote Gaming Platform, also saw its first-half gross revenue grow by 2.6%.","focusai_entities":"PhilWeb Corporation, PAGCOR","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q3 Growth Drivers","query":"What specific operational or market factors are projected to sustain PhilWeb Corporation's revenue growth and profitability into Q3, particularly concerning its Remote Gaming Platform's GGR contribution?"},{"label":"RGP Operational Impact","query":"What is the current and projected NGR contribution from PhilWeb Corporation's Remote Gaming Platform relative to its land-based video game cafes, and how does this impact its B2C licensing strategy and market share?"}],"footnotes":""},"categories":[163,16333],"tags":[],"class_list":["post-777018144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777018144"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018144\/revisions"}],"predecessor-version":[{"id":777018151,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018144\/revisions\/777018151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2822"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}