LISTED it solutions provider and systems integrator DFNN Inc. said it has acquired nearly 34-percent stake in Interactive Entertainment Technology Solutions for $2.5 million.

The deal was done through DFNN’s Singapore-based unit Pacific Gaming Investments Inc. (PGI).

DFNN said, PGI got management control in the Southeast Asian gaming firm, which is engaged in event, sports and financial spread betting. PGI also got an option to buy the remaining 66 percent stake upon its listing.

DFNN and PGI chairman Ramon Garcia Jr. said the entry into Interactive Entertainment is one of many strategic moves by the group to gain a foothold in the growing market for online gaming.

“PGI has also begun due diligence on a number of cashflow-positive and operational slot-machine arcades in Cambodia and the Philippines with the end goal of acquiring these arcades,” he said.

Wireless sports betting, using mobile phones, has been growing at a phenomenal rate in Europe, while somewhat absent in Asia. PGI will supply the gaming software expertise and marketing tie-ups in various Asian countries.

Financial spread betting is another area that shows huge potential for the company. By far the largest portion of wireless betting in the United Kingdom concerns financial instruments. Investors use their cell phone to bet on movement of a stock, currency, or commodity almost anywhere in the world. Bets are small but returns are large.

Leading spread-betting companies, such as IG Index/IGMarkets, City Index, Cantor Index, Financial Spreads and CMC, make most revenues from financial markets.

DFNN is also holding discussion with a leading global financial institution supply the software and marketing for Asia.

“Soon investors in Hong Kong for example, could be wagering on Australian horseracing, the Japanese yen, and regional stocks all on their wireless devices,” Garcia added. “This market could provide a very major business opportunity for DFNN in Asia.”

LISTED it solutions provider and systems integrator DFNN Inc. said it has acquired nearly 34-percent stake in Interactive Entertainment Technology Solutions for $2.5 million.

Burger King will expand to 36 branches next year

PERF Restaurants Inc., owner and operator of Burger King in the country, will pursue expansion next year by putting up new branches in Metro Manila.

MEGAWORLD Corp., a real-estate developer controlled by businessman Andrew L. Tan, has rebuffed allegations by American billionaire Donald Trump that it was misleading clients for using “Trumps” as the name of its ongoing condominium development in Makati City.

CHEMICAL company DuPont is hopeful that it will gain double-digit growth in revenues next year as it introduces a new pesticide and strengthens its research and development efforts.

THE Philippine stock index rose for the seventh day, the longest rally in six months, on speculation a plan to contain US mortgage losses will ease a housing slump and boost spending in the world’s biggest economy.

The top 10 major TV advertisers haven’t changed much this year but here are some interesting observations anyway:

Globe Telecom has continued with its institutional ads while Smart Communications has chosen to concentrate on product ads that are sure to generate revenues.