PinoyBusiness.ORG - Home » Games http://pinoybusiness.org Thu, 09 Feb 2012 23:52:38 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Online gaming business plans to diversify http://pinoybusiness.org/2011/03/20/online-gaming-business-plans-to-diversify/ http://pinoybusiness.org/2011/03/20/online-gaming-business-plans-to-diversify/#comments Mon, 21 Mar 2011 13:05:17 +0000 Roy http://pinoybusiness.org/?p=3911 The Premier Entertainment Philippines Inc. (PEP) just got the nod of its shareholders to diversify from its main business of online gaming and into the mining, real estate and information technology. However, the company said it remains in search of its next venture as it assesses “feelers” from potential partners in its new businesses.

Anastacio P. Diaz of PEP said they want to move into a new venture that is not as tightly regulated as gaming business, which is overseen by the state-help Philippine Amusement and Gaming Corp. He stressed that whatever business they will go into, with any possible business partner, should have “synergy with company’s intentions.”

He said the search for a new business remains in the scouting stage. The final decision may be reached in 18 months.

PEP operates seven online casinos in Metro Manila that provide much of its cash. Each online casino carries an average of 50 terminals, said Diaz. PEP operates the online casino through its unit Digiwave Solutions Inc.

The gaming company hopes to improve its returns from its business. As of its last financial report, it stood at P47.7 million, which should have been P318,000 higher than the previous year’s had it not been for the recognition of a one-time gain from the sale of software by PEP in 2009 that dwarfed its 2010 revenues and more than covered all its cost for that year.

The company remains in the red. As of September, it financial report showed a nine-month loss of P41.25 million compared with an income of P7.65 million in the previous year. For the quarter, PEP’s loss of P6.67 million was lower than the P15.25 million loss in the previous year.

Diaz said they expect a 10 percent growth in revenue in its existing seven sites, even as the company intends to further increase the presence of online casinos. They are eyeing expansion in Manila, Quezon City, Las Piñas and Bulacan province, among others.

“We are able to dramatically reduce our operating expenses, and our e-games have been upgraded. We have a better management group. So we expect revenues to rise and operating expenses to drop,” said Diaz.

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]]> http://pinoybusiness.org/2011/03/20/online-gaming-business-plans-to-diversify/feed/ 0 ICTSI invests in the gaming industry http://pinoybusiness.org/2010/04/05/ictsi-invests-in-the-gaming-industry/ http://pinoybusiness.org/2010/04/05/ictsi-invests-in-the-gaming-industry/#comments Tue, 06 Apr 2010 06:56:49 +0000 Roy http://pinoybusiness.org/?p=3363 The chairman of International Container Terminal Services Inc. (ICTSI), Enrique Razon Jr., is venturing into the gaming business. After selling his interest in the Philippines’ power transmission monopoly, Razon was able to acquire license to operate at the country’s up-and-coming gamboling hub.

Razon announced recently that he acquired Bloombury Investments Holdings Inc. from businessman Jose Alvarez, which is one of the four firms licensed to operate at Pagcor City. He said would infuse additional P5-billion worth of fresh equity into Bloombury.

Bloombury’s project, which includes the construction of two five-star hotels, is projected to be completed in two years’ time. It is already in the final stages of the design development for the initial phase of the project, the construction of which is expected to commence by the third quarter of this year and is estimated to cost around $400 million.

The ICTSI chairman said its foray into the gaming industry is a new line of business to be explored. At present, he is not entertaining any local or foreign partners for the project.

Aside from Bloombury, the Pagcor City, which was named after the state-owned Philippine Amusement and Gaming Corp., also attracted three other investors, namely SM Investments Corp., Japan’s Azure group, and a consortium of Malaya’s Genting group and Philippine-listed Alliance Global Group Inc. The gambling hub will rise at the former Bagong Nayong Pilipino property.

Razon sold his stake at National Grid Corporation of the Philippines (NGCP) to one of the sons of shopping mall magnate Henry Sy, Henry Sy Jr.

Sy bought our Razon from Monte Oro Grid Resources Corp., which controls a third of NGCP, through his OneTaipan Holdings. The holding company was reported to have paid Razon approximately $350 million for his Monte Oro stake. An amount which is nearly a third of NGCP’s $1-billion bid for the Philippines’ transmission monopoly.

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]]> http://pinoybusiness.org/2010/04/05/ictsi-invests-in-the-gaming-industry/feed/ 0 Online gaming company gets listed in the PSE http://pinoybusiness.org/2010/02/17/online-gaming-company-gets-listed-in-the-pse/ http://pinoybusiness.org/2010/02/17/online-gaming-company-gets-listed-in-the-pse/#comments Thu, 18 Feb 2010 01:25:23 +0000 Roy http://pinoybusiness.org/?p=3226 Philippine online gaming publisher IP E-Game Ventures Inc. (IP E-Games) was finally listed in the Philippine Stock Exchange (PSE). The company held its listing ceremony at the PSE last Wednesday. IP E-Games is the first online gaming company to be listed in the PSE.

A subsidiary of technology firm IPVG Corp., IP E-Games was able to get approval on an initial introduction of 33,545,554 common shares from the Second Board of the PSE last February 1, 2010. The company’s stocks, listed under the symbol “EG” on the PSE board, will be traded at an indicative reference opening share price of P50 each.

IP E-Games Chief Executive Officer Enrique Gonzales said after the formal listing ceremony, “The listing does a lot for the company. This raises the bar in terms of how we interact with our stakeholders namely our public investors. It gives us access to capital market and it establishes a clear validation for the company.”

He added, “I think what that means for our gamers, what that means to the online gaming industry in the Philippines is we are now positioned to access funds from the capital market and we are going to invest those funds in building up the online gaming industry in the Philippines.”

IP E-Games is the publisher of popular Massively Multiplayer Online Role Playing Games (MMORPGs) CABAL Online and RAN Online, and also the beat game Audition Dance Battle.

The company is not yet required to go through an initial public offering  because it was listed by way of introduction, but PSE regulatory requirements mandate that companies who enlist should conduct a public offering and conform with the minimum public ownership requirement within 12 months.

Gonzales said they are planning to hold their public offering on the third or fourth quarter of the year. He believes that upcoming elections would give a “tremendous boost to the local economy.” “Plus, there is a sense of optimism once new leadership has been elected,” he added.

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]]> http://pinoybusiness.org/2010/02/17/online-gaming-company-gets-listed-in-the-pse/feed/ 0 Pacific Gaming receives $7M in investment from a Singaporean firm http://pinoybusiness.org/2010/01/05/pacific-gaming-receives-7m-in-investment-from-a-singaporean-firm/ http://pinoybusiness.org/2010/01/05/pacific-gaming-receives-7m-in-investment-from-a-singaporean-firm/#comments Wed, 06 Jan 2010 00:53:55 +0000 Roy http://pinoybusiness.org/?p=3115 A Singaporean firm is planning to invest $7.5 million in a local gaming company. Straitwey, a Singapore-registered company who is a wholly owned subsidiary of the Japan Gaming Development Organization (JGDO) and is the investment entity used by JGDO to invest into projects within the gaming industry, is investing the $7.6 million in the primary and secondary shares of Pacific Gaming Investments (PGI).

PGI’s board of directors earlier approved the execution of a non-binding term sheet with Straitwey. Under the non-binding term sheet, Straitwey, subject to due diligence, shall invest a maximum of $7 million in primary and secondary shares of PGI. The primary share investment were gives a pre-money valuation to PGI of $80 million.

PGI will then use the additional investment in the local gaming industry. It will partially fund its planned increase in its investment stake of Interactive Entertainment Solution Technologies Inc. (IEST), part will be used for the working capital needs of PGI, and then for further investments in the gaming sector.

IEST currently operates an online gaming operation under the authority of the Philippine Gaming and Amusements Corp. (Pagcor). IEST is also engaged in providing software and IT solutions for sports betting companies. It has contracts to supply equipments to Pagcor.

Both PGI and IEST are subsidiaries of Diversified Financial Network Inc. (DFNN), a publicly listed information technology solutions provider and systems integrator. DFNN earlier created a division to cater to the needs of the emerging gaming industry, with the advent of the opening of the gaming industry in Asia, both land based and electronics.

DFNN gaming solutions span the capability for wireless gaming, creation and management of games and other gaming related project, as well as software outsourcing. The company is willing to cater its gaming products to the needed business processes of legal gaming entities who are operating in legal gaming jurisdictions.

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]]> http://pinoybusiness.org/2010/01/05/pacific-gaming-receives-7m-in-investment-from-a-singaporean-firm/feed/ 0 PCSO to phase out Power Lotto http://pinoybusiness.org/2009/10/14/pcso-to-phase-out-power-lotto/ http://pinoybusiness.org/2009/10/14/pcso-to-phase-out-power-lotto/#comments Thu, 15 Oct 2009 18:11:04 +0000 Roy http://pinoybusiness.org/?p=2701 The Philippine Charity Sweepstakes Office (PCSO) has been contemplating on phasing out the Power Lotto and replace it with a game just like the three other existing lotto games. This plan was welcomed by Pacific Online Systems Corp., saying such move would boost the sales for next year.

Since its introduction last year, Power Lotto hasn’t really caught the fancy of lotto bettors, so it will be replaced by a new six-digit 6/55. Chairman of Pacific Online Willy N. Ocier, said in an interview, “The new game will improve our sales by 25%.”

The income of the gaming company surge by 70% to P167.7 million from January to July, primarily because of the expansion of retail outlets and wider distribution of its scratch lottery card games.

The equipment being used by the PCSO for online lottery operations in the Visayas and Mindanao were leased from Pacific Online. The agency has almost 4,000 online terminals all over the country, half of which are in the Luzon area, which were provided by another company, the Prime Gaming Philippines, Inc.

Pacific Online plans to add 300 new terminals next year, increasing total terminals to 2,100. The country can accommodate at least 7,000 online terminals, said Ocier. “I doubt if the Visayas and Mindanao regions can grow as big as Luzon. The money is in Luzon.”

The plan to phase out Power Lotto was confirmed by PCSO spokesman Larry Cedro, but quickly added that the decision hasn’t been finalized yet. “Based on the survey, there is a low response for Power Lotto because the betting price is already prohibitive,” he said.

The price of Power Lotto is P50 per bet, which was aimed to target the A and B market. It is 400% higher compared with regular and Mega Lotto six-digit bets and 150% more than the P20 bet price of Super Lotto 6/49.

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]]> http://pinoybusiness.org/2009/10/14/pcso-to-phase-out-power-lotto/feed/ 0 Mayweather’s successful comeback http://pinoybusiness.org/2009/09/19/mayweathers-successful-comeback/ http://pinoybusiness.org/2009/09/19/mayweathers-successful-comeback/#comments Sun, 20 Sep 2009 10:08:55 +0000 Roy http://pinoybusiness.org/?p=2370 Floyd Mayweather Jr. made a triumphant return to active fighting after winning over opponent Juan Manuel Marquez with a unanimous 12-round points decision in MGM Arena in Las Vegas.

Mayweather knocked down Marquez in the second round and continued dominating the fight with punishing assault for the rest of the bout. Capturing his 40th win, Mayweather remains unbeaten, while Marquez slipped to 50-5-1 with the result of the fight.

The three judges scored 188-109, 120-107 and 119-108 in favor of Mayweather, underlining his dominance in his comeback match. His last fight was in December 2007 where he beats Britain’s Ricky Hatton.

Before the fight, the two boxers had been weighed in and Mayweather exceeds the agreed pound and incurred a $600,000 penalty. But penalty notwithstanding, it definitely gave him an advantage over a lighter Marquez, aside from his advantage in height and reach.

However, in spite of the his victory over Marquez, some boxing analysts and enthusiasts weren’t amazed by the fact that he was not able to put his smaller opponent and it took all of 12 rounds to take the victory via unanimous decision.

Mayweather said, “I’ve been off two years, but I can get better.”

With his victory, Mayweather is now looking for a showdown against Filipino boxing great Manny “Pacman” Pacquiao who is now the current “best pound for pound fighter” in the planet. Mayweather was the holder of the said title prior to his retirement. This makes the bout between the two “pound for pound kings” worth waiting for.

Pacquiao, meanwhile, will have to face Puerto Rican Miguel Cotto first on November 14 on Nevadan City.

Marquez, who offered no excuses for his defeat said, “I really felt the difference in weight.”

“He’s tough as nails. He’s a great little man,” were Mayweather’s words on Marquez.

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]]> http://pinoybusiness.org/2009/09/19/mayweathers-successful-comeback/feed/ 0 Bowling tournament in Austria raised funds to send Filipino children to school http://pinoybusiness.org/2009/09/10/bowling-tournament-in-austria-raised-funds-to-send-filipino-children-to-school/ http://pinoybusiness.org/2009/09/10/bowling-tournament-in-austria-raised-funds-to-send-filipino-children-to-school/#comments Fri, 11 Sep 2009 21:55:23 +0000 Roy http://pinoybusiness.org/?p=2285 Babaylan Austria is a group of Filipino women based in Austria. It was formed in 1996 and its objective is to promote Filipino women’s empowerment and ensure the members full participation in the development processes through sharing of experiences, information and resources.

Recently, the group held a charity bowling tournament to benefit its scholarship projects in the southern Philippines. This was participated in by fellow Filipinos who not only love the game of bowling, but because they want to support the group’s worthy cause.

Randy Ilagan, one of those who joined said, “I participated here since I want to make a difference in the lives of the children right in our country, the Philippines. I know the situation of a lot of Filipinos there. Most parents can’t do anything because they can’t afford it.”

“I am really a bowling fan. I have been participating in all Pinoy Bowling tournaments here and when I learned that there is a charity bowling for the benefit of our less privileged kababayans in the Philippines, I immediately decided to join. I want to help in my own little way,” said Chito Constante.

Filipinos who participated in the Babaylan Austria’s Strike 9 Charity bowling tournament were just glad that such initiative was staged to support poor but outstanding Filipino children in the Philippines.

Willy Budoy, advertising agent of a Philippine Door-to-Door Business Firm in Vienna, and sponsor of the tournament said, “We are pleased to be able to sponsor such a great event. The Babaylan Austria is a worthwhile organization and we are proud to help support them in their educational projects in the Philippines.”

Babaylan Austria president Lani Zigler expressed her gratitude for the warm reception to the group by Filipinos. “Bowl for the benefit of our less-fortunate brothers and sisters in the Philippines, most especially in the Cebu area has raised not only a certain amount to finance our scholarship programs but also helped increase the awareness of people here in Austria about the situation of the majority of our countrymen in the Philippines who could not afford to send their children to school,” Zigler said.

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]]> http://pinoybusiness.org/2009/09/10/bowling-tournament-in-austria-raised-funds-to-send-filipino-children-to-school/feed/ 1 Bata, Django – first World Pool doubles champions http://pinoybusiness.org/2009/09/06/bata-django-first-world-pool-doubles-champions/ http://pinoybusiness.org/2009/09/06/bata-django-first-world-pool-doubles-champions/#comments Mon, 07 Sep 2009 01:32:27 +0000 Roy http://pinoybusiness.org/?p=2247 The Philippines is top again in world billiards, and who else can bring this glory to the country but the biggest names in Philippine billiards. The team of Efren “Bata” Reyes and Francisco “Django” Bustamante escaped with the championship with an 11-9 triumph over Germany’s Ralf Souquet and Thorsten Hohmann in the finals of the PartyCasino.Net World Cup of Pool in Quezon City last Sunday night.

Reyes and Bustamante became the first double-champion of the tournament. They zoomed to an early lead, floundered midway, but gained back their rhythm and won five of the last six racks.

They first stormed to a 3-0 advantage where two capitalized on two errors of the Germans, including Hohmann’s miss on the brown 7 in the second rack and Souquet’s poor counter-safety on the blue 2 in the next frame.

Reyes still showcased his magic touch, while Bustamante showed his precision in his pocketing in what could be one of the most thrilling encounters in World Cup history.

But as the breaks of the game would go, Reyes and Bustamante had their share of blunders on the eighth and ninth racks. Django misfired on an easy shot on the brown 7 while Bata rattled out the green 6.

A loud roar reverberated throughout the jampacked SM City North Annex when Reyes finally pocketed the 9 ball that would clinch the win for the Filipino pool legends.

Bustamante said, “Although we are old, we are still winning.” Reyes thanks all who came in to watch and show their support. The billiard legends won the $60,000 purse in the four-day tournament which ended a string of disappointing results in the past two years.

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]]> http://pinoybusiness.org/2009/09/06/bata-django-first-world-pool-doubles-champions/feed/ 0 Pacquiao, most likely to fight Cotto http://pinoybusiness.org/2009/06/21/pacquiao-most-likely-to-fight-cotto/ http://pinoybusiness.org/2009/06/21/pacquiao-most-likely-to-fight-cotto/#comments Mon, 22 Jun 2009 06:22:32 +0000 Roy http://pinoybusiness.org/?p=1210

It looks like our Pambansang Kamao, Manny Pacquiao will be facing Puerto Rican Miguel Cotto in his next bout.  And it will be in a place where Pacquiao has scored two of his biggest wins – MGM Grand, and not the Madison Square Garden in New York where a large Puerto Rican community is always ready to support Cotto.

The probability of the two fighters squaring off is even made greater by the fact that they are both promoted by Top Rank chair Bob Arum.

It could be remember that the hotel’s Garden Arena was host to Pacquiao’s  two great victories, the first one against Oscar De La Hoya in December, and another one last May against Ricky Hatton.

Arum told Las Vegas Review Journal, “I wanted to give everybody a shot,” and added that he also talked to Daren Libonati, director of the Thomas & Mack Center – the place where Pacquiao demolished Erik Morales in 2006.

Once the details are finalized, the schedule of the bout will be on November 14, 2009.

But even while the Pacquiao-Cotto fight almost reaching finality, Shane Mosley is still continuing to appeal for a fight against Pacman. He is even asking Fighthype.com to launch a poll as to who Filipinos would like to see battle Pacquiao. “We have the biggest names by far,” Mosley said of Pacquiao and himself.

At the website of mannypacquiao.ph, a poll was conducted as to who Pacquiao should fight next, Mosley is only third in the ranking at 13.3 percent. Leading the poll is Floyd Mayweather, Jr. at 46.3 and Cotto at second with 34 percent.

Cotto’s last fight, on the other hand, was an unconvincing split decision over Joshua Clottey last June 13, at the Madison Square Garden, coinciding with the Puerto Rican Day parade.

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]]> http://pinoybusiness.org/2009/06/21/pacquiao-most-likely-to-fight-cotto/feed/ 0 Pagcor City project looking at $6B worth of investment http://pinoybusiness.org/2009/06/14/pagcor-city-project-looking-at-6b-worth-of-investment/ http://pinoybusiness.org/2009/06/14/pagcor-city-project-looking-at-6b-worth-of-investment/#comments Mon, 15 Jun 2009 21:53:50 +0000 Roy http://pinoybusiness.org/?p=1181

The Philippine Amusement and Gaming Corp. (Pagcor)  is gearing up for the development of the 800-hectare entertainment complex in Roxas Boulevard, and it is expecting $6 million worth of investments to be infused by interested investors.

One of the said investor of the “Pagcor City” project is the SM group. The company is now finalizing its plans for its piece of the gaming and entertainment complex, said Pagcor chair Efraim Genuino, who added that they are expecting the SM group to pour in “more or less” $1 billion.

The SM investment Corp. (SMIC) for its part, added recently a fifth division which will focus on the burgeoning hotel and tourism business. Their other core interests are shopping mall development, retailing, banking and condominium development.

Other big investors who have already committed to the Pagcor City project include property tycoon Andrew Tan’s Alliance Global Group Inc., in partnership with the Genting group’s Star Cruises Ltd., and Aruze Corp. of Japan, which is the financier of casino bigwig Steve Wynn.

Genuino said Pagcor is now in finalizing all the documentation required to be able to start work on the reclaimed land in Manila so that investors may already start work on their respective sites. Aruze, according to Genuino will be infusing around $3 billion to the said project.

The investors would be riding on Pagcor’s license, who in turn would be entitled to a 25-percent share of the gross income from the project.

The Pagcor City project is envisioned to become the “Macau” or “Las Vegas” of the Philippines. It will offer an array of arcades, white beaches and lagoons, shopping malls, hotels, specialty restaurants, wellness centers, cultural center, sports arena and theme park.

Genuino said the casino would only constitute about 3 percent of the development. The bulk would be devoted to entertainment, such as for Warner Brothers.

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]]> http://pinoybusiness.org/2009/06/14/pagcor-city-project-looking-at-6b-worth-of-investment/feed/ 0 PAGCOR’s Las Vegas project assured of commitment from investors http://pinoybusiness.org/2009/04/11/pagcors-las-vegas-project-assured-of-commitment-from-investors/ http://pinoybusiness.org/2009/04/11/pagcors-las-vegas-project-assured-of-commitment-from-investors/#comments Sun, 12 Apr 2009 02:50:28 +0000 Roy http://pinoybusiness.org/?p=993 The Philippine Amusement and Gaming Corporation (PAGCOR) is undertaking a massive project which could the next biggest tourism development in Asia. Its investors reiterated, and assured, their commitment to this project which is the Bagong Nayong Pilipino – Entertainment City Manila, and promised to do their part to ensure the success of the project.

Representatives of the investors were present, and were among the panel of speakers at the Global Leaders Forum Held during the Gaming, Tourism and Investments Congress of the Asia’s Gaming and Entertainment  + Leisure Expo (Asia’s GEM) 2009.

Attendees to this event were key players in the tourism gaming and entertainment industry. Among those who participated in the forum include PAGCOR President and COO Rafael Francisco, Alliance Global Group, Inc. President Kingson Sian, Austrian Gaming Industries Director David Orrick, ARUZE Corporation of America president Mikio Tanji, Dreamgate Corp. Bhd group executive director Mazlan Ismail and SM Hotel Corporation president Merrill F. Yu.

Orrick cited the Entertainment City project for its potential in providing wider entertainment options the region, and the same time supplying jobs and tourism enhancement opportunities. “This project will capture the imagination of not only the Filipino people but visitors from the outside. It supports the enterprise of gaming and tourism,” he said.

The first phase of the project, according to Francisco, is expected to be completed in the year 2010, with major investors already on line to begin construction of their project concepts.

The project will be located on a 120 hectare property along Manila Bay. The minimum cost of the project, which is considered to be as the Philippines’ Las Vegas, will reach $1 billion, consisting of both equity and debt.

Efraim C. Genuino, chair and chief executive officer of PAGCOR said that that only three percent of the entire development is in gaming, “there will be lots of tourist attractions including sports arenas and a museum. All of prospective investors are global operators,” he added.

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]]> http://pinoybusiness.org/2009/04/11/pagcors-las-vegas-project-assured-of-commitment-from-investors/feed/ 0 Slap greedy CEOs and save US economy with this new online game http://pinoybusiness.org/2009/03/29/slap-greedy-ceos-and-save-us-economy-with-this-new-online-game/ http://pinoybusiness.org/2009/03/29/slap-greedy-ceos-and-save-us-economy-with-this-new-online-game/#comments Mon, 30 Mar 2009 02:59:34 +0000 Roy http://pinoybusiness.org/?p=930 Do you think you have what it take to save the world economy? Do you have enough business acumen in you to make big financial decisions? Can you discern when an executive is really in need of additional financial assistance or is just being greedy? Well then, you can try all these without really losing a cent, except a few minutes of your time – hours if you got addicted to it.

That is because there a new online game released by the AddictingGames.com that will allow you to slap a greedy CEO or reward deserving CEOs and hand out bags of money to deserving homeowners to save their house from being foreclosed.

The new online game is called the “Trillion Dollar Bailout.” In this game, a player is given one trillion dollars to play with, which he then can use to save the US economy before “total economic meltdown strikes.”

To be honest, the game isn’t really that great since it presents only a 2D play screen (it is a free online game after all), but since everybody’s talking about economy, money, bailouts, politics, and what-have-you, this game couldn’t come at a more appropriate time. The best part of it all is that you make the decisions on who to give money to and who to slap with a giant hand.

The game features the New York City skyline, and as the game progresses homeowners and corporate CEOs pop out of the houses and buildings requesting taxpayer-funded handout. You can either hand out money by clicking on a money bag icon or give a bailout slap by clicking on an icon which looks like a giant hand.

You can see your progress on the graph below the screen which shows whether the economy is “saved” or “tanks” with your decisions. The game’s creators urge players to “punish greedy fat cats and save honest people.”

Give it a quick try now.

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