DFNN posts P79-M comprehensive income for 2015

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…

Lotto service provider DFNN to get P310M from PCSO

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…

DFNN to triple number of terminals in 2016

GAMING firm DFNN Inc. said it would triple the number of its terminals next year, as the company said it will spend more on its systems as it expands its operations that may include sports betting and acquiring another firm. Ramon Garcia, the company’s president and CEO, said the company will increase its terminals to…

DFNN to expand Instawin footprint

Listed gaming technology provider DFNN Inc. expects to more than double the number of its Instawin terminals next year. Ramon Garcia, president and chief executive officer of DFNN, said the company was on track with regard to its targets for the year, giving them the confidence to aim for greater heights in 2016. “Our budget…

DFNN to wipe out P643M deficit

TECHNOLOGY solutions provider DFNN Inc. is cleaning up its books to wipe out P643 million in capital deficit and become capable of declaring dividends soon. In a disclosure to the Philippine Stock Exchange on Monday, DFNN said its board had approved the issuance of 8.3 million common shares to various existing shareholders by virtue of…

DFNN to undergo quasi-reorganization

LISTED DFNN, Inc. said it will conduct a quasi-reorganization to remove the deficit in its retained earnings, as the information technology solutions provider moves to declare dividends soon. In a special board meeting last Friday, DFNN’s board of directors approved the issuance of 8.31 million common shares to existing shareholders through a debt-to-equity conversion. “The…

DFNN reports marginal increase in income

DFNN Inc. on Friday said it posted an income for the six-month period ending June, partly as a result of more than doubling its revenues for the period, as it focused its efforts on serving the gambling industry. The company said in its report that its income was at P2.8 million, a turnaround from last…

Gaming, tech firm gets new COO

MANILA, Philippines – Diversified Financial Network Inc. (DFNN), the country’s leading IT solutions provider, systems integrator and provider of gaming technology products, services and solutions, has a new chief operating officer (COO) in Ricardo “Ricky” Banaag.  Banaag was Intel Philippines’ country manager for over 16 years. DFNN focuses in 2015 to expand its electronic gaming…

PCSO agrees to arbitration of dispute with supplier

MANILA, Philippines—The state-owned Philippine Charity Sweepstakes Office has agreed to go into arbitration of its dispute with listed information technology solutions provider DFNN Inc. over a wireless lotto betting contract that was scrapped during the Arroyo administration. In a disclosure to the Philippine Stock Exchange on Friday, DFNN said it had received a letter from…