Philippine Gaming

The president of PhilWeb Corp. Dennis Valdes is expecting for his company to turn in a very big profit due to his recent online casino investments. They are confident that even though the economy is slowing down that their online casinos will remain afloat. The key driver in their net income sin their internet cafes powered by the Philippine Gaming Corp. According to the latest published reports from the company they have recently opened up 45 new cafes which brought their 2008 total for their online game based cyber cafes to an impressive 121. They were not surprised by the end of year numbers, especially because they had already surpassed the 2007 figures by the beginning of the third quarter of 2008. Actually they nearly doubled the profits from the previous year.

Online casino cyber cafes have been in the news for various different reasons. In this case it is a positive report, not one about a raid where arrests are being made and computers being seized. PhilWeb and their online casinos did not suffer from the economic slowdown at all in the month of December, which was what was projected. Actually, contrary to what the projected revenue for the month of December was actually completely wrong, the revenue turned out to be the strongest that the company has seen in its history. The revenue went up about 25 percent from the month prior to December. The website is set to expand aggressively within the next couple of months.

The online casinos will feature Premyo Sa REsibo, Basketball Jackpot and Txtingo Super Singko. Mr. Valdes is also very confident that the online casino industry will not suffer in the upcoming months. He said, "There is also no slowdown in January, that is why we are optimistic that growth for this year will continue. Our customers are... insulated from the crisis and have the disposable income to participate in our games." They also plan on expanding their business into sports betting kiosks in which there will be a projected amount of 149 in the next six months.