Roberto V. Ongpin was the former chairman of Philweb Corporation. He is a Filipino businessman, married with four children. He ranked 9th in the Forbes list of 40 Richest Filipinos in 2011 with a net worth of $1.3 billion. He was a former Minister of Trade and Minister of Industry during the Marcos administration.
The Philippine Stock Exchange has finally approved the sale of the 653.1 million Philweb shares belonging to founder Roberto Ongpin to Gregorio Araneta III. According to a filing from the company on Friday, a First Tranche sale of 653.1 shares will be sold through a special block sale at the PSE simultaneously with the commencement […]
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 […]
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 […]
Philippine President Rodrigo Duterte has said that he will continue to allow online gaming, as long as taxes can be collected and also that all establishments are kept well away from schools and churches. Duterte made the comments during a televized press conference on Wednesday afternoon. The President has expressed his dislike of online gambling […]
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 […]
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 […]
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 […]
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.