DFNN To Grow Offshore Gaming Business

DFNN To Grow Offshore Gaming Business
DFNN To Grow Offshore Gaming Business

Gaming technology company DFNN Inc is aiming to expand its offshore gaming operations with the establishment of a new entity. DFNN said its board of directors has approved the incorporation of Nico Bayan Inc, which will have an authorized capital stock of PHP15 million (US$293,500). DFNN also announced it will subscribe to PHP5 million worth of Nico Bayan’s outstanding shares. 

The company said in a disclosure to the Philippine Stock Exchange that Nico Bayan will be used as a vehicle for the expansion of its offshore gaming operations. Ramon Garcia Jr, DFNN executive vice-chair and executive director, said the new unit is expected to add to its revenue significantly. According to the Philippine Amusement & Gaming Corp (Pagcor) website, there are now 56 licensed Philippine offshore gaming operators (POGOs) in the country. DFNN holds an existing POGO licence.

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