Online venture for GMA-7 and Manila Jockey Club

The second largest Philippine broadcaster GMA-7’’s internet arm GMA New Media Inc (NMI) has announced the imminent launch of an online horse-betting venture in partnership with the Manila Jockey Club.

The announcement made during the company’s third quarter performance report reveals that its Gamespan online gambling platform, which was originally intended for launch in the middle of this year, will become operational during its fourth quarter prior to the end of 2011.

The venture will provide diversification in the company’s revenue-earning streams on the back of a 30 percent drop in net income over its nine month reporting period.

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