MANILA – Listed companies PhilWeb Corp. and DFNN Inc. on Friday released clarifications on President Rodrigo Duterte’s latest call to close down all online gaming operations. In a disclosure to the stock exchange, PhilWeb said it “does not engage in online gaming” and merely provides software to the Philippine Amusement and Gaming Corporation (Pagcor) for its network…
A P310-million arbitral award to technology solutions provider DFNN Inc. – which won a legal dispute with the state-controlled Philippine Charity Sweepstakes Office (PCSO) over “illegal” termination of a lotto equipment leasing deal – has become final and executory. In a disclosure to the Philippine Stock Exchange on Wednesday, DFNN said it had received a…
THE COURT of Appeals (CA) affirmed the award of over P310 million to DFNN, Inc. for the premature termination of an equipment lease agreement with the Philippine Charity Sweepstakes Office (PCSO). People fill-up lotto tickets at a PCSO outlet in Manila. — BW FILE PHOTO In a decision issued on Nov. 17, the appellate court dismissed…
A COURT upheld an earlier decision to award DFNN, Inc. P310 million for damages arising from the premature termination of its lease agreement with the Philippine Charity Sweepstakes Office (PCSO). In decision dated May 18, the Regional Trial Court of Makati City denied the motion of PCSO to reconsider the amount of the arbitral award,…
DFNN Inc., a publicly listed IT firm, registered a significant milestone of turning around its bottom line from a comprehensive loss to a positive income. The company reported a comprehensive income of P79.60 million last year, a notable turnaround from a comprehensive loss of P126.70 million in 2014. Consolidated revenue reached P259.85 million, up 183.8…
A Makati regional trial court has ruled that DFNN Inc. should get P310 million from the Philippine Charity Sweepstakes Office and not the P27 million decided by an arbitration panel last year, the company said Monday. “This is to inform the Philippine Stock Exchange Inc. that today, DFNN Inc. received a copy of the Decision…