PhilWeb reports 20% net income growth in 2012


Asian gaming firm PhilWeb Corp. has reported a 20-percent year-on-year rise in its net income in 2012 to USD $27 million, with the fastest growth coming from its Asia Pacific subsidiary, which operates scratch card businesses in Cambodia and Timor Leste and a sweeps center in Guam.  PhilWeb Asia Pacific president Mike Grandinetti said that the company will soon be opening its first e-Games café in Timor Leste.  The company already has 277 e-Games cafés in the Philippines. PhilWeb has also received a certification from the Philippine Economic Zone Authority (PEZA) for its new gaming terminal business, e-Magine Gaming Corporation.