PhilWeb Corporation is a gaming technology provider in the Asia Pacific Region. Philweb was originally involved in mining and exploration but got involved in internet gambling in 2002. From then it had forayed into e-games cafes, growing turnover from PHP 11 billion in 2005 to PHP 138 billion (US$ 3 billion) in 2014.The number of outlets has also grown over 10 years from 37 to 305. It is listed on the Philippine Stock Exchange (PSE:WEB).In the Asia Pacific region, the company has begun serving customers in Guam, Timor Leste and Cambodia. They are also negotiating similar contracts in Nepal, Sri Lanka, Laos and Palau.
Dennis Valdes, former head of igaming company Philweb and now president of property developer Alphaland talks with AGB managing editor Sharon Singleton. He reflects on the development of the Philippine market and current state-of-play.
Philweb Corporation president Dennis Valdes is stepping down from his role as president, and moving to Alphaland Corporation, a real estate firm chaired by Robert Ongpin. In his place, the company has elected Brian K. Ng to the post of president, effective Feb 1, 2020. Mr. Ng is currently senior vice president for Gaming, a […]
PhilWeb Corp. said it had its best quarterly performance in EBITDA terms in three years in Q3, helped by its network of e-bingo machines.
PhilWeb Corp, a provider of e-bingo and other games, said its first half loss narrowed by about a half, helped by a 25 percent increase in revenue.
Philippine e-bingo operator Palmary Corporation has purchased a 6.78 percent stake in Philweb Corporation and has signed a cooperation agreement with the company to develop its electronic and e-bingo business. On Friday, the company signed a share purchase agreement to purchase 97.3 million shares of PhilWeb Corporation, representing 6.78 percent of the company Speaking about […]
The Philippine Amusement & Gaming Corporation has furiously denied claims that the auditing requirements placed on Philweb are biased in favor of one of its competitors. Earlier this week, Philippines-listed Philweb Corp petitioned an injunction to stop PAGCOR from implementing a new rule that requires its electronic gaming operations to be monitored by a third […]
Philippines e-games operator PhilWeb says it is not interested in operating as a POGO licensee, but said it is “not opposed” to providing its services to offshore gaming companies. The comments were made by PhilWeb president Dennis Valdes on Monday, according to a report from ABS-CBN. “We are not opposed to being a service provider […]
PhilWeb Corp. has acquired an e-Games site north-west of Manila in exchange for 552,050 of its shares. The owner of the Pagcor eGames site was Lucky Winner Bingo and Gaming Corporation, which received the shares at a price of 5.44 per share, making the consideration worth around P$3 million (US$56,142). In June, Philweb acquired two […]
E-Games operator PhilWeb reported a 165 percent increase in revenue for the first half of 2018, due mainly to an increase in PhilWeb EGM outlets, and the launch of new suite of games. Such revenue reached P172.6 million (US$3.2 million) in the period. Dennis Valdes, president of PhilWeb said revenue increases were primarily due to […]
Almost two years after losing its license in a spat with Philippine President Rodrigo Duterte, gaming technology company PhilWeb Corp is on a charm offensive to win back lost business with improved content and services. “I hope you will support us,” PhilWeb President Dennis Valdes said as he recently shook the hand of Pastor Albano […]
PhilWeb Corp. said it has acquired two more of the Philippine Gaming and Amusement Corp’s e-gaming sites in a cash and stock transaction.
Online gaming stations in the Philippines that are not running on PhilWeb Corp.’s systems are able to continue operations, but are under tight supervision, local media cited the local regulator as saying. “They have legal basis. They complied with all the requirements, Philippine Amusement and Gaming Corp. chair Andrea Domingo was cited as saying. Sites […]
Philweb Corp, an operator of e-gaming cafes in the Philippines, reported a net loss of P5.4 million (US$109,700) in 16Q3, down from a net profit of P206.1 million in the prior year period. The company made headlines in August after news broke of the Philippine gaming regulator’s decision not to renew Philweb’s license to operate […]
Philippines-listed Philweb Corp says it has applied for a renewal of its license to operate e-Games cafes, with its executives reportedly meeting with Pagcor officials on Wednesday. According to a filing to the Philippine Stock Exchange, Philweb’s new chairman Gregorio “Greggy” Ma. Araneta III and PhilWeb president Dennis Valdes formally submitted a license renewal application […]
The Philippines gaming regulator has received interest from 76 companies for its offshore gaming licenses, with contracts to be awarded starting this month, local media reports. Pagcor is said have received 76 applications since rolling out its offshore license offering, according to its chairman and chief executive officer Andrea D. Domingo on Monday to the […]
The Philippines government has formally ended its four-month war on online gambling, with the government now focusing its attention on opening up the online gaming industry to more players. According to an interview with radio news channel DZMM over the weekend, quoted by Calvin Ayre, Pagcor’s Ignacio noted the government will be strictly enforcing the […]
Philweb Corp has appealed to the Securities and Exchange Commission (SEC) to allow the block sale of Roberto Ongpin’s stake to Gregorio Ma. Araneta III ahead of the mandatory tender offering to minority shareholders, the Inquirer reports. In a statement, Philweb president Dennis Valdes said he believes the SEC should allow the block sale of […]
Former Philweb chairman, Roberto V. Ongpin has sold his 53.76 percent stake in gaming technology provider Philweb Corp. to its new chairman, Gregorio Araneta, for P2 billion ($41.4 million). The sale was announced by R. G. Manabat & Co., the local arm of KPMG, the financial advisor on the transaction. Ongpin sold a total of […]
Businessman Roberto Ongpin has reportedly hired RG Manabat & Co., the local arm of global professional services firm KPMG, as the investment advisor for the sale of his 53.76 percent share in Philweb Corp, local media reports. “Among the considerations which I took into account in appointing KPMG is that they are the auditors of […]
The Philippines government has directed Philippine Amusement and Gaming Corp. (Pagcor) to sell its casinos in order to raise funds to support the proposed P3.4-trillion 2017 national budget, local media reports. “Finance Secretary Carlos Dominguez has told us to privatize Pagcor-owned casinos,” Andrea Domingo, Pagcor chairperson, told a House budget hearing. “We are now preparing […]
Philweb is reportedly seeking to revive a text / SMS lottery proposal after several failed attempts to renew the firm’s online gaming services, local media reports. According to the Manila Bulletin, in a letter to Pagcor Board of Governors, PhilWeb president Dennis Valdes said he is trying to “exhaust all effort in trying to maintain […]
The Philippine Amusement and Gaming Corp (Pagcor) has rejected businessman Roberto Ongpin’s latest amendment to donate his shares in online provider Philweb. Last Friday, in a letter to Pagcor chairperson Andrea Domingo, Ongpin asked the gaming regulator to use his 49 percent stake in Philweb for the establishment of a nationwide network of drug rehabilitation […]
Roberto Ongpin has made a final attempt to save the 6,000 workers of embattled Philweb Corp. after the Philippine gaming regulator announced its license would not be renewed. According to local media, in a letter to Pagcor chairperson Andrea Domingo on Friday, Ongpin asked the gaming regulator to use his P20 billion worth of Philweb […]
Philippine Amusement and Gaming Corporation has rejected Roberto Ongpin’s offer to donate 49 percent of his stake in Philweb Corp, local media reports. “The issue is not RVO (Roberto V. Ongpin) or PhilWeb per se. It is the President’s and his government’s opposition to online and onsite gaming because of the social ills and decay […]
Businessman Roberto Ongpin has offered to donate 49 percent of his entire 53.76 percent stake in PhilWeb Corporation to the Philippine Amusement and Gaming Corporation (PAGCOR), as a last ditch effort to save the firm from winding down operations. According to a letter sent to Pagcor chief executive Andrea Domingo dated August 17, Ongpin also […]
Philippines’ gaming regulator has closed the door on a possible appeal by Philweb Corp. to renew its license, according to remarks from its chairman on Tuesday. Last week, Andrea Domingo, Pagcor’s chief announced that PhilWeb’s license would not be renewed, plummeting shares in the company to a 52-week low. Philweb’s majority owner and chairman Roberto […]
Business man Roberto Ongpin has announced his plans to sell all his shares in PhilWeb Corporation, hoping the move will salvage the business – which lost its license this week, local media reports. Earlier this week, Pagcor chief, Andrea Domingo announced that PhilWeb’s license would not be renewed, plunging shares in the company to a […]
After the Philippine Amusement and Gaming Corp. (Pagcor) announced on Tuesday that it would not be renewing its contract with PhilWeb Corp. to operate its online casinos, PhilWeb president Dennis Valdes has said that a “winding down” of operations will start today, Wednesday 10 August. Valdes said the company “will try to avoid” cutting its […]
New Pagcor chief, Andrea Domingo, has announced that PhilWeb’s license will not be renewed. Shares in the company have plummeted to a 52-week low. Philweb’s president, Dennis Valdes, had said at the weekend in an interview with The Star that closing the company down would have a huge economic and social cost, with up to […]
Having vowed to get rid of oligarchs embedded in the government, President Duterte yesterday singled out Filipino tycoon Roberto Ongpin as an example. Duterte has declared war on oligarchs whom he describes as people who do not work hard yet earn huge amounts of money while sitting around “in their airplanes or mansions”. Duterte claimed […]
Philippine-based Philweb has been granted a one-month extension by the Philippine Amusement and Gaming Corporation (Pagcor) to continue to operate e-Games cafes across the country. The extension was confirmed by a letter from the gaming regulator on Monday. The company’s current license was due to expire on July 11, 2016. The letter, dated on July […]
Gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) says it is temporarily halting the processing of all online gambling license applications, following President Duterte’s pronouncement against online gambling last week. Last week, Duerte vowed to put an end to online gambling in the country, hours after taking an oath for presidency, saying he will direct […]
Philippines-based PhilWeb Corporation is raising at least P6 billion (US$128.6 million) from the sale of treasury and subsidiary-held shares to finance an aggressive expansion plan. In a filing to the Philippine Stock Exchange, PhilWeb announced that its shareholders have unanimously approved the management’s proposal to make a private placement of more than 300 million shares […]
Philippines-based PhilWeb Corp. reported a 3.8 percent dip in net income to PHP870 million (US$18.6 million) from PHP904 million in 2014, but still remained positive for 2016, according to a filing to the Philippine Stock Exchange. “I am bullish about the coming year,” said PhilWeb president Dennis Valdes, citing its partnership with the Philippine Amusement […]
Online gambling operators in the Philippines are facing a lack of clarity and regulatory confusion amid President Rodrigo Duterte’s clampdown on unlicensed sites. Since coming to power in June last year, Duterte has caused no end of confusion for online gambling operators plying their trade in the country. Back in December, he announced plans to pull down the shutters on iGaming sites, claiming they had no positive impact on the economy.