E-Games revenues leap 155% to P337M

IP E-Game Ventures' (E-Games) revenues in the first nine months soared to P337 million, a 155 percent leap from P132 million a year earlier, the publicly listed gaming firm said Thursday in a disclosure to the Philippine Stock Exchange. Game publishing revenue growth of 17 percent and the consolidation of two networks of Internet cafes, Netopia and CyBr, pushed the revenue numbers up. "We are certainly pleased with the large improvement in our company financial performance year-on-year, but management should be judged by its ability to continually deliver this level of performance on a recurring basis," E-Games CEO Enrique Gonzalez said. E-Games is the local publisher of online role-playing games RAN Online, CABAL Online and Dragonica. It has 16 million registered users in the country. Two million monthly visitors walk into E-Games' Netopia and CyBr Internet cafes. The purchase of Webworx Computer Technology Corp., the owner and operator of CyBr cafes, last September added 22 outlets to E-Games' retail Internet service. E-Store Exchange — an affiliate of GMA Network — and Philippine Star Group are strategic minority investors in E-Games. — ELR/KG/VS, GMA News