PhilWeb Corp, a company operating the bulk of all legal online casino gambling in the Philippines, is reporting good profit and growth for the first quarter of the year. The Q1 profits have shown a 42% increase over the same quarter last year.

PhilWeb has been doing incredibly well this year, and mainly thanks to the games at Pagcor – one of the largest gaming companies powered by PhilWeb. As a result, the two companies have manages to create a strong subsector of the market. In addition to that, new PEGS café operations launch games throughout the Philippines attracting new players and bringing new revenue.

PhillWeb is expecting the profits to grow throughout the year of 2010 and likely over the next several years as well.