DFNN 17Q1 net income rockets upwards

Philippine-listed DFNN over the weekend reported a sharp rise in revenue and income for the first quarter of 2017, aided by the company’s increased gaming footprint and adoption of its technology platform.

The company reported consolidated revenue of P266.3 million in 17Q1, up from P58.0 million in 16Q1, while net income was P52.7 million, up from a loss of P9.3 million in the first quarter of 2016.

“By the end of the first quarter of this year, the acceptance and utilization of the company’s electronic games platform environment resulted in over 6,500 terminals running in more than 200 gaming outlets throughout the Philippines,” said the company in a statement.

“Additionally, the transaction volume for the company’s Digital Virtual Games offering, is also being adopted at an increased rate,” it added.

DFNN CEO Ramon Garcia said he was pleased with the group’s first quarter results, and expects to sustain the current trajectory with the launch of its Sports Betting Exchange Gaming Platform.