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PhilWeb profit down 22%, though revenue up from PIGO

Philippines-listed Philweb Corp recorded a 22 percent fall in net profit in 1Q22, despite a strong uptick in revenues from its PIGO operations.

Philweb swings back to profit in 21Q1

Philippines-based Philweb Corp swung to a net income of P7.2 million in the first quarter of 2021, up from a P1.5 billion loss incurred in the prior-year period.

PhilWeb acquires additional interests in electronic bingo

PhilWeb Corporation has acquired sixteen electronic bingo companies and two accredited electronic bingo machine supplier companies.

ASEAN returns, in-person – First gaming conference in Asia

Major industry changes and updates don’t happen behind a screen but in person. That’s why it’s great to be back and discuss key regional challenges and opportunities face to face at the Shangri-La at the Fort July 25-27.

Political two-step begins following change of Philippines president

The political jockeying that historically has followed presidential elections in the Philippines may have already begun in the casino industry with Bloomberry Resorts announcing it’s investing in two PH Travel and Resorts properties.

Your Daily Asia Gaming eBrief: Telangana rethink

India’s Telangana state government banned all gambling five years ago, whether skill-based or not, in response to incidences of economic harm and gambling addiction.

Dialogue needed for PIGO industry development

Operators and service providers in the Philippines want more dialogue with the government over the taxation and regulation of domestic online gaming (PIGO) to help them better compete with rampant illegal gambling.

Your Daily Asia Gaming eBrief: Crown unsuitable to hold WA license, given two years to fix issues

Findings of Western Australia’s Royal Commission inquiry into Crown Resorts has finally come out, finding the operator “unsuitable” to hold its license in the state, just as it had been for NSW and Victoria.

PIGO industry warns high costs hinder ability to compete with illegal market [video]

The nascent PIGO market has enormous potential, but the high costs of doing business are hampering its ability to compete with illegal gambling operators, say three of the first movers in the field. In Asia Gaming Brief's Pop-Up Webinar, which was aired live on Monday, DFNN CEO Calvin Lim, PhilWeb President Brian Ng and Jade Entertainment CEO Joe Pisano tell us about the current state-of-play in the market and some of the challenges they have been facing.

PIGOs seen as an industry life saver, but costs curbing market potential

The Philippines’ nascent domestic online gaming market has made a good start, but the market is challenging with high cost structures and other regulatory hurdles that may crimp industry potential if they go unaddressed.