GAMING technology provider DFNN said on Tuesday that its business may have turned around last year led by growth in its gaming services after it incurred operating losses in 2014.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, the company said that earnings before interest, depreciation and amortization (EBITDA) in the fourth quarter of last year are estimated at between P50 million and P60 million compared to the previous year’s negative EBITDA of P47.41 million.
It said consolidated revenues in the fourth quarter are estimated to be between P70 million and P80 million, or almost triple the previous year’s P27.75 million.
Net income guidance for the fourth quarter 2015 is between P25 million and P30 million, a turnaround from the P83.14 million net loss in the same period in 2014.
“The robust performance is attributable to the increase in the company’s gaming and gaming-related services,” DFNN said.
DFNN has licenses for electronic gaming machines, sports betting and digit and pari-mutuel games with the state-owned Philippine Amusement and Gaming Corporation (Pagcor).
DFNN said its unique background as an information technology company with a track record puts it in a unique position to explore and maximize opportunities in the gaming sector.