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 said it was able to swing its results due to gaming activities returning to “pre-quarantine” levels as well as having 19 eGames parlors converted back to the company’s electronic gaming system, along with the acquisition of 16 more eBingo venues and two accredited eBingo machine providers.

PhilWeb returns to profitability with P7-M income (Business World)