What’s turning out to be a game changer for the country’s fledgling gaming industry—and not necessarily for the better—is a shift in the tax regime from the 5-percent franchise tax on gross gaming revenues to a 30-percent tax on net income. This is seen affecting the bankability of the industry especially as investors had come in on the assumption of a competitive cost structure versus regional gaming hubs.
PhilWeb Corp. on Wednesday reported a net income of P1.1 billion for 2012, 20 percent higher than the previous year, with all divisions contributing to the growth, especially its new businesses in the Asia-Pacific region.
Publicly listed Philweb Corp. will embark on a stock buyback program after the management of the gaming firm expressed belief that its share price was currently trading below its inherent value.
Gaming firm PhilWeb Corp. is launching a share buy-back program to lift the price of its stock, which according to management still trades below its “intrinsic value.”
Publicly listed PhilWeb Corp. reported a robust increase in earnings for the first nine months of 2012 due to what it said were strong results from its e-Games cafes nationwide.
Publicly listed gaming solutions provider PhilWeb Corp. will invest up to P100 million in a new firm that will manufacture gaming terminals for its local network of e-Games cafés and its various international businesses.
Publicly listed PhilWeb Corp. reported a sharp rise in its earnings for the first half of the year, boosted by revenues from its gaming operations in the Asia-Pacific.
