Windfall Profits in Online GamblingPublished January 11, 2010
Filipino gambling firepower holds the recession at bay.
The Philippines is home to some of the most positive news in the global gambling industry. With surging earnings, rising profits and an online gaming industry that is rapidly gaining momentum, things are certainly looking up.
Top companies posting strong results
Leading the charge is a local Philippines gambling company named PhilWeb Corp. News from their head office suggests that the firm is expecting P 1 billion in earnings in 2010. This strong showing is in response to wise investments in 2009.
PhilWeb Corp reflected over P550 million in earnings in 2009 - an 89% spike from their 2008 figures. The company is a top player in the i-Gaming sector and enables Pagcor's (Philippine Amusement and Gaming Corp.) e-Games café system and Sports Betting Stations to function.
PhilWeb Corp is looking to expand into the Acentic network - a German corporation - comprising over 200,000 rooms, and partner with ISM in developing Acentic's strategic reach into Asia.
The Philippine Lotto posts stellar returns
The online lottery system provider of the Philippine Charity Sweepstakes Office in Visayas and Mindanao reported that their total sales rose 18.5% to P7.69 billion in 2009. The jump of P1.2 billion from 2008 figures is largely due to the large-scale development of lotto outlets. The number of betting terminals reached 1,748 in 2009 from a modest 1,500 in 2008.
But Keno sales are up too, making the Philippines a true juggernaut in global online gambling circles. Keno sales of PCSO rose sharply from P32.3 million in 2008 to P88.67 million in 2009.
Super Lotto Winner Nabs the Loot
Meanwhile back in Manila, a bettor from Luzon correctly predicted the winning combo of the 6/49 Super Lotto and as a result pocketed its P111 million jackpot. He guessed all 6 numbers - 15-27-17-37-18 and 11.