The principles of due process and non-impairment of contractual obligations are enshrined in the Philippine Constitution, particularly under the Bill of Rights or Article III Section 10 of the country’s fundamental charter. According to a ruling of the Supreme Court, the purpose of this non-impairment clause is to safeguard the integrity of contracts against unwarranted…
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The Court of Appeals has again affirmed a claim by DFNN for damages from the Philippine Charity Sweepstake Office (PCSO) for unilaterally pulling out of an equipment lease agreement. In a ruling dated Sept. 27, but provided by DFNN on Thursday, the court said PCSO had failed to raise “new and substantial matters” to warrant…
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Philippines-listed DFNN Inc. has incorporated a new entity to expand its offshore gaming operations, according to a filing from DFNN to the stock exchange on Wednesday. The company in question, Nico Bayan, will have an authorized capital stock of P15 million (US$293,437). Out of the subscription of DFNN, it will own 100 percent of the…
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DFNN said it is hopeful a long-standing legal dispute with the Philippine Charity Sweepstake Office (PCSO) is close to being settled and it will be able to collect the PHP310 million ($5.9 million) in damages that it was awarded by a court. The company said on Friday that it received a May decision from the…
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MANILA, Philippines – A unit of gaming technology firm DFNN Inc. has bagged a Philippine Offshore Gaming Operations (POGO) service deal with AutoLotto Inc., a pioneering US mobile lottery service provider. This allows DFNN, through subsidiary Nico Bayan Inc., to expand its POGO business that does not rely on the Chinese market. At the Global…
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In the past years, DFNN has continued its remarkable influence over the technology space, most notably in the e-casino gaming industry, paving the way for the success of subsidiaries Inter-Active Entertainment Solutions Technologies (IEST) and iWave. Possessing an uncanny ability to adapt its technologies to niche local and international market requirements, the company’s technological expertise…
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Philippines-listed DFNN saw increased revenue across all its businesses, with total consolidated revenue increasing 16 percent to P984.3 million in the first nine months of the year. DFNN posted an EBITDA of P188.4 million, a surge of 31.9 percent from the prior year period. DFNN said the steady trajectory is largely attributed to an increase…
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Technology firm DFNN Inc. has signed a joint venture deal with Singapore-based software and technology firm CYG Pte. Ltd. to roll out solutions and services for both the local and international markets. In a disclosure to the Philippine Stock Exchange last week, DFNN said the strategic partnership with CYG was aimed at optimizing its current…
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Increased depreciation and amortization expenses have pulled down Philippine-listed game technology provider DFNN Inc.’s net income by 14.6 percent in the first half of 2018. In a disclosure to the Philippine Stock Exchange, DFNN reported net income of PHP86.9 million (US$1.63 million) in the first six months of 2018, down from PHP101.8 million ($1.9 million)…
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