If a total of just over 93.8-million redeemable preferred shares of PhilWeb are fully exercised, Mr Gokonwei’s interest in PhilWeb’s total issued and outstanding common shares will rise to approximately 15 percent, according to the filing.

PhilWeb said in the update to the Philippine Stock Exchange that the transaction “is intended to support the company’s capital raising initiatives and related corporate initiatives”.

It noted in a separate press release: “The investment marks a significant milestone in PhilWeb’s transformation into an AI [artificial intelligence]-enabled technology infrastructure company serving the regulated digital entertainment sector.

“Beyond the capital infusion, PhilWeb expects to benefit from Mr Gokongwei’s strategic perspective, institutional experience, and extensive business network as the company strengthens its long-term technology roadmap and growth strategy.”

Mr Gokongwei is president and chief executive of JG Summit Holdings Inc, one of the Philippines’ largest conglomerates, which controls a number of brands such as Robinsons Land Corp, Universal Robina Corp, and the air carrier Cebu Pacific. NUSTAR Resort & Casino, on Cebu in the Philippines, is owned and operated by Universal Hotels and Resorts Inc, which is a privately-owned company by the Gokongwei family.

However, PhilWeb said that, in the deal now announced, Mr Gokongwei was acting in a “personal capacity”.

Brian Ng (pictured in a file photo), president of PhilWeb, was cited as saying in the press release that Mr Gokongwei’s investment “represents a strong endorsement” of the firm’s technology platform and long-term vision.

Mr Ng added: ‘Data intelligence and automated compliance tools are becoming essential layers of modern digital infrastructure.

“With Lance’s strategic investment and business network, PhilWeb is well positioned to expand our AI technology roadmap, serve our established ecosystem of leading partners more efficiently, and evaluate long-term growth opportunities.”

Long-term path

In March, PhilWeb confirmed a change of ownership after a management-led buyout.

The company has been highly-active as a services provider to the Philippine online gaming sector. In January, the firm announced a “strategic partnership” for the “operation and management” of the online gaming platform for Hann Casino Resort, a complex at Clark Freeport Zone.

In March, PhilWeb said it would be working with NUSTAR Online. It was described by PhilWeb as a “gaming and entertainment platform” that is also Pagcor-licensed. It is linked to NUSTAR Resort & Casino.

In April, PhilWeb announced a partnership with Travellers International Hotel Group Inc, operator of the Newport World Resorts casino and leisure complex in the Philippine capital Manila. It was for the latter’s online gaming business.

In May, PhilWeb launched the “Okada Play” online gaming platform in partnership with Tiger Resort, Leisure and Entertainment Inc, the promoter of the Okada Manila casino resort in the Philippine capital.

PhilWeb stated in its Wednesday update to the Philippine bourse that the share subscription agreement entered with Mr Gokongwei was for just over 159.5 million common shares and just over 93.8 million redeemable preferred shares of the company, at a subscription price of PHP8.00 per share.

The subscribed shares will be issued from the additional common and redeemable preferred shares to be created via a proposed increase in PhilWeb’s authorised capital stock from PHP2.6 billion to PHP3.6 billion.

The latter move is “subject to the approval of the company’s stockholders, the Securities and Exchange Commission, and other applicable regulatory requirements”.

Gaming tech plans

PhilWeb said the money raised from the exercise would help “strengthen PhilWeb’s balance sheet and support the integration of advanced data and AI capabilities across its core technology roadmap”.

This included “intelligent platform tools to support real-time risk scoring, transaction monitoring, suspicious activity detection, and responsible gaming controls”.

An additional area of investment was data analytics and platform intelligence, namely the development of secure data models designed to “interpret user behaviour, optimise player lifecycle management, and improve platform operating efficiency”.

There would also be backing for intelligent recommendation and retention tools, including automated recommendation engines to help licensed operators improve content discovery, platform performance, and user engagement, PhilWeb said.

The company would also work on “enhancing” internal and partner-facing systems through automation tools to “optimise compliance workflows, reporting, and high-throughput platform monitoring”.

That is according to the latest monthly survey from the Macau Hotel Association, published by the Macao Government Tourism Office (MGTO).

The survey collected data from 49 association-member hotels, 28 of which are five-star properties. Most are within casino resort complexes. The remaining members – in either the four-star or three-star category – include some hotels that are within casino resorts.

In March, the average nightly rate for a five-star hotel room already saw a rate boost that reversed the previous 14 consecutive months of year-on-year decline.

The first five days of May encompassed the Chinese mainland’s 2026 Labour Day holiday season. During the period, Macau saw nearly 7 percent year-on-year growth in visitor arrivals from the mainland, at 725,000 entries, according to data from MGTO.

Nonetheless, the average nightly rate for both the four-star and three-star hotels canvassed by the Macau Hotel Association saw year-on-year decline in May. The four-star average was MOP1,117.4, down 2.7 percent year-on-year. The three-star average was MOP891.8, down 6.7 percent year-on-year.

The latest data took the average nightly rate for five-star rooms in the first five months of this year to MOP1,534.3, flat from a year ago, with occupancy averaging 94.3 percent, down 0.2 percentage points.

The average nightly rate for the five-star hotel rooms surveyed in the January to May period was still 5.3 percent lower than the same period in the pre-pandemic year of 2019, where it stood at MOP1,619.4, according to the association’s data.

Across all hotel categories covered in the 2026 data, the average room rate across January to May declined 0.2 percent year-on-year to MOP1,369.0.

Five-star hotels dominate Macau’s hotel market. As of April – the most recent figures available – the city offered 26,300 five-star rooms, nearly 58 percent of the total 45,400 guest rooms across all categories. That is according to the city’s Statistics and Census Service. The number of Macau five-star rooms rose 1.1 percent compared with April 2025.

That is according to a Monday statement by the two firms sent to GGRAsia.

The CVC investment is via its Strategic Opportunities platform. The latter was set up by CVC in 2014 “to invest in high-quality businesses that may not suit a traditional private equity mandate”, according to CVC’s website.

James Maida, GLI’s co-founder and chief executive, was quoted as saying in Monday’s announcement: “We are truly excited and honoured to welcome CVC as a strategic investment partner.”

He was also cited saying: “This partnership creates new opportunities for growth and innovation, allowing GLI to invest even more in the success of the future of the global gaming industry as well as investing in related and adjacent sectors.”

The release stated CVC had “completed an investment into GLI and related entities”, which would “provide resources and expertise to enhance the capabilities and growth prospects of GLI”. No figures were disclosed in terms of CVC’s involvement.

GGRAsia has approached GLI for clarification on the overall nature of CVC’s investment.

At the time that CVC’s potential investment became public last year, a regulatory announcement in Malta concerning market-competition rules had mentioned “acquisition of sole control of Gaming Laboratories International, LLC and its affiliates Worldwide Laboratories, LLC and Kobetron, LLC”, by a company linked to CVC.

Monday’s update referred to CVC Strategic Opportunities as GLI’s “first external investor”.

Per the statement, GLI – founded in 1989 by Mr Maida and Paul Magno – currently has more than 1,500 employees, serving over 710 regulated gaming jurisdictions worldwide.

Monday’s announcement cited Matt Turner, partner at CVC – and described as a GLI board member –, as saying: “Within CVC Strategic Opportunities, we seek to partner with exceptional businesses that have histories of consistent success, strong market positions and significant long-term growth potential.”

He added: “GLI fits perfectly with that approach, as over nearly 40 years James and Paul have built GLI into the clear leader in its industry.”

Mr Turner further noted of GLI: “The company plays a critical role in the global regulated gaming ecosystem and has established itself as a trusted partner to regulators, operators and suppliers around the world.

“This positions the business extremely well for continued growth, and we are looking forward to working alongside James and the talented team at GLI to support the company’s future success.”

CVC’s website say it has EUR15-billion (US$17.1-billion) in assets under management. CVC’s Strategic Opportunities arm is said to have a “core focus on corporate private equity investments with a lower risk profile, primarily in Europe and North America, as well as the opportunity to partner with founding families or foundations looking for a long-term partner”.

The landmark number was arrived at by the afternoon of Saturday (June 20).

Macau recorded 40.1 million visitor arrivals in 2025, the highest annual total on record.

In a statement issued on Saturday, the local police said Macau had tallied an average of 116,000 daily visitor arrivals so far this year, up 10.2 percent year-on-year.

Of the 20 million arrivals logged between January 1 and Saturday afternoon, approximately 14.6 million were from the Chinese mainland. Hong Kong accounted for 3.5 million arrivals.

International visitor arrivals during the period stood at around 1.4 million, with South Korea accounting for the largest share, at 270,000 arrivals, followed by the Philippines at 260,000.

Meanwhile, Macau recorded 380,609 visitor arrivals during a three-day Chinese mainland holiday period authorised by the State Council – from June 19 to June 21 inclusive – marking this year’s Dragon Boat Festival.

The tally was 2.5 percent lower than during the comparable period a year earlier, according to GGRAsia’s calculations based on police figures.

The police data did not include a breakdown of the visitors’ source markets.

Hong Kong – Macau’s second-biggest visitor source market – observed June 19 as a public holiday.

Across the three days of the mainland’s Dragon Boat Festival break this year, Macau’s Border Gate – the main inland boundary crossing between Macau and Zhuhai, the nearest mainland city in Guangdong province – was the busiest. It handled 169,977 visitor arrivals in total, accounting for 44.7 percent of all Macau arrivals during the festive period.

The second-busiest boundary checkpoint was the Hong Kong-Zhuhai-Macau Bridge crossing, which handled 79,690 visitor arrivals during the period.

The high-limit area features eight ‘smart’ baccarat tables, and is located next to the restaurant Crystal Jade La Mian Xiao Long Bao, according to GGRAsia site checks on Monday.

At the time of GGRAsia’s visit, the new high-limit tables carried minimum bets of either HKD3,000 (US$383) or HKD5,000 for the main betting propositions, i.e., the banker hand or the player hand.

That compared to minimum baccarat table bet levels on the main floor of the Londoner Grand Casino mostly in the range of HKD1,000 to HKD2,000.

 “We are pleased to confirm the Londoner Grand Casino opened a high-limit zone in May, offering premium service to cater to the needs of our guests,” Sands China told GGRAsia in a written reply.

The eight baccarat tables at the new high-limit gaming zone featured side bet options including tie, Lucky 6, Small and Big Lucky 6, Lucky 7, 2-card Lucky 7, 3-card Lucky 7, and Super Lucky 7, as well as the option for pair bets, as per GGRAsia’s Monday site observations.

While the baccarat side bets ‘Monkey no Monkey’ and ‘Pairs+’ were not featured at those high-limit baccarat tables, they could be found at some of the tables on the main floor of the Londoner Grand Casino. Those side bets – approved in late March in Macau – were described as “pioneered by Sands” in marketing slogans displayed on the gaming floor.

As per GGRAsia’s Monday checks, the main-floor minimum bet levels for baccarat play at the Londoner Grand Casino were generally lower than those at sister venue The Londoner Casino, also at The Londoner Macao resort. Minimum bet levels at main-floor live baccarat tables at the latter venue – all using ‘smart’ technology – were mostly between HKD2,000 and HKD3,000.

The Londoner Grand Casino, a revamped version of the former Pacifica casino, opened in September 2024.

Products include a card vault embedded with radio frequency identification (RFID) tags that allows digital tracking capabilities, noted Olivia Lee (pictured), director of business development at the company. She was speaking to GGRAsia at the recent Global Gaming Asia (G2E) Expo held in Macau.

Mega Fortris’ card vaults have tamper-evident features, according to corporate materials.

The supplier recommends that “irreversible identifiers” – such as name, logo, barcode, and serial number – could be laser-marked on a pairing seal, such as its patented “Triple Lock Chamber Seal”. The latter works on a one-way, snap-on locking mechanism that allows tight sealing, and is said clearly to provide evidence of tampering, in the event of removal.

“We look at automation and digital traceability as they become more important when integrated resorts seek greater operational efficiency and regulatory compliance,” Ms Lee told.

Amid that trend, Mega Fortris has come up with its “smart security solution”, which uses “RFID and real-time tracking that plays a large role in protecting both financial and physical assets”, mentioned Ms Lee, referring to its latest RFID-tagged card vault as an example.

The security-seal provider also showcased its TITO (ticket-in, ticket-out) products at the trade show, a business segment that is “gaining momentum” because of its “high quality”, the Mega Fortris representative stated.

The supplier has pledged to meet the industry’s trending and evolving operational needs, Ms Lee remarked.

“The future is not only about entertainment: but also creating secure and reliable environment for players, operators and regulators,” added the executive.

Ms Ng was sworn in and assumed office on Monday, after her appointment was announced on the same day in an official notice issued by the Macau government.

In her first public remarks after taking office, Ms Ng thanked the Chief Executive and China’s central government for their confidence, describing the appointment as both an “honour and a deep responsibility”.

The Secretary for Economy and Finance is one of the principal officials in the Macau government and oversees a portfolio that includes the city’s gaming industry, tourism-related economic development, financial services, labour affairs, consumer protection, taxation and economic policy.

Ms Ng had been appointed to lead Macau’s casino regulator, the Gaming Inspection and Coordination Bureau (also known as DICJ), in May 2025. 

In May this year, her appointment as DICJ director had been renewed for a further year. There has not yet been an announcement on who will succeed her as head of the gaming regulator.

In her Monday comments, Ms Ng said every policy decision in the economy and finance sector was closely linked to Macau’s future development and the daily lives of the city’s residents.

Amid what she described as a complex and volatile external economic environment, the new Secretary for Economy and Finance said her team would work to implement the government’s policy agenda and pursue practical solutions to challenges facing the city.

A key focus would be the implementation of Macau’s economic diversification strategy away from the gaming sector, “with the aim of strengthening” the city’s “economic resilience,” Ms Ng stated.

“The road ahead is full of challenges, but also great opportunities,” Ms Ng stated, adding that she believed Macau’s economy could enter “a new stage of growth” through the joint efforts of government, businesses and residents.

Ms Ng succeeds Tai Kin Ip in the post of Secretary for Economy and Finance.

A veteran civil servant, Ms Ng had served as director of the Public Administration and Civil Service Bureau immediately before taking charge of the gaming regulator. Prior to that, she spent more than two decades working at the Labour Affairs Bureau.

The analysis covers show sessions hosted at the performance venues operated by Galaxy Entertainment, including its circa 16,000-capacity Galaxy Arena at Galaxy Macau, and those by Sands China, including its circa 14,000-capacity Venetian Arena at The Venetian Macao. Given the lead times on staging large shows, the second-quarter 2026 figures might not change by June-end.

The two operators had an aggregate of 50 show sessions scheduled in the second-quarter, April to June period, from GGRAsia checks. That is down 42.5 percent on the figure of 87 staged in the same period last year as assessed by GGRAsia. Many stars are having a maximum of two concerts across a single weekend this time, compared to some ‘mini-residencies’ across several weekends in second-quarter 2025.

During the April to June period, Galaxy Arena was host to 16 show sessions, and Venetian Arena was at 7. In the same period in 2025, Galaxy Arena had 18 show sessions, and Venetian Arena had 12.

GGRAsia’s review for the two operators’ hosted shows excludes private or invitation-only events, and sports events.

In the second quarter this year, the two arenas collectively hosted acts from Asian pop artists including Billkin, Chen Linong, Hailai Amu, Exo, Wu Bai & China Blue, Kelly Chen, IVE and DxS. None of the acts cover more than a weekend, GGRAsia has understood from show-calendar checks.

Second-quarter 2025 had seen the two arenas in aggregate host performances from Asian artists G Dragon, Jacky Cheung and Sammi Cheung, with the latter two Hong Kong pop acts having performed over consecutive weekends. A series of concerts by Jacky Cheung in June and July 2025, in particular, had been mentioned by banking institution Citigroup as lifting the city’s premium mass gambling business.

Second-quarter 2026 concert data so far for Galaxy Entertainment and Sands China’s Cotai venues indicate that their first-half 2026 shows will tally 116, down 14.7 percent from the 136 staged in first-half 2025.

Galaxy Entertainment’s first-half 2026 show tally is on track for 77, down 3.8 percent from first-half 2025’s tally of 80. Sands China’s first-half 2026 show sessions so far, have reached 39, down 30.4 percent from 56 in the same period last year.

Industry perspective

GGRAsia sought comment from a local events specialist regarding the second-quarter and first-half 2026 data.

Lawrence Che Fok Sang, chief executive and a founder at Macau-based entertainment production company Chessman Entertainment & Production Co Ltd, said this year’s line-up will still have had strong appeal to gaming and non-gaming patrons.

An example was Taiwan rock act ‘Wu Bai & China Blue’, which recently performed at Galaxy Arena.

Though he noted it was “true” that 2025 had marked the year “some ‘A-list’ artists” had “ended their concert cycle featuring Macau stops” that had offered multiple shows.

Grant Chum Kwan Lock, Sands China’s chief executive and president, had acknowledged in the first-quarter earnings call of the firm’s parent Las Vegas Sands Corp, that bookings for“big tour acts” had “slowed down” so far in 2026, versus 2025 and 2024.

Mr Chum had acknowledged that entertainment content is utilised to drive visits to the company’s casino resorts.

The Sands China CEO also noted on the call: “We have the ability to bring content of different size, different spectatorship because we have access to both the Venetian Arena, which is the bigger arena, as well as the mid-size Londoner Arena.” The latter has a circa 6,000 capacity.

The FIFA World Cup 2026 football tournament, running from June 11 to July 19, was likely to be a distraction for Macau casino customers, as the sports event might divert money from their casino gaming budgets, several investment analysts suggested in recent memos on the sector.

But from mid-July, a “busy” calendar of concerts and events were likely to be “catalysts” that could drive Macau’s casino gross gaming revenue (GGR) recovery, remarked Citigroup in a note issued earlier this week.

Hong Kong-listed NagaCorp has a long-life casino monopoly in the Cambodian capital Phnom Penh, where it runs the NagaWorld casino-resort complex (pictured).

According to a Wednesday filing, the proposed scheme is due to be adopted at the firm’s annual general meeting scheduled for June 25.

The company said its purpose is to provide incentives or rewards to eligible participants for their contribution to the group and their continued efforts to promote its interests.

Those eligible for the scheme would include directors and employees of NagaCorp and its subsidiaries, including individuals granted options as an incentive to join the company.

Under the proposal, the scheme would remain valid for 10 years from the adoption date. During that period, NagaCorp’s board would have discretion to grant options to selected participants.

The filing stated that the total number of shares that may be issued upon exercise of all options and awards granted under the scheme – as well as any other share schemes operated by the company – would be capped at 10 percent of NagaCorp’s issued share capital as at the adoption date, excluding any treasury shares.

The exercise price of any options granted under the scheme would be determined by the board, but could not be lower than the highest of three benchmarks: the closing share price on the grant date; the average closing share price over the five business days preceding the grant date; or the nominal value of the shares.

The proposed scheme includes a minimum vesting period of 12 months, although shorter vesting periods may be permitted in specific circumstances. 

NagaCorp noted that there would be no mandatory performance targets or clawback provisions attached to options unless the board chooses to impose such conditions when making individual grants.

Moreover, any grant that would result in an eligible participant receiving more than 1 percent of the company’s issued shares over a rolling 12-month period would require approval from shareholders, per the proposal document.

Additional approval requirements would apply to grants involving directors, chief executives, substantial shareholders and their associates.

In March, NagaCorp had reported full-year 2025 net profit of US$309.9 million, up more than 180 percent from 2024. The firm also declared a final dividend for 2025 of US$0.0109 per share – amounting to US$48.3 million in aggregate –, to be paid on August 7.

International Entertainment is the controller of a Manila Bay, Philippines, casino hotel with a provisional gaming licence from the Philippine Amusement and Gaming Corp (Pagcor). The property, long known as New Coast Hotel Manila, is currently being promoted as LaVie Resort & Casino Manila (pictured).

The Hong Kong-listed firm announced in a Tuesday filing that its indirect Philippine subsidiary, New Coast Leisure Inc (NCLI), had signed a cooperation agreement with Total Gamezone Xtreme Inc (TGXI), a wholly-owned subsidiary of DigiPlus, to collaborate on the integration, aggregation, provision and operation of online gaming content.

The agreement, signed on Tuesday, covers online games and related content linked to the operations of LaVie Resort & Casino Manila, subject to approval from the Philippine Amusement and Gaming Corp (Pagcor), and compliance with applicable regulations.

The deal has an initial term of two years and will automatically be renewed annually unless either party gives notice of non-renewal.

The partnership will make possible the start of International Entertainment’s online gaming business, following the group’s announcement in April that it intended to enter the segment.

Under the arrangement, NCLI will maintain the licences and accreditations required for online gaming operations, oversee regulatory compliance, track gaming performance and conduct revenue audits. 

TGXI will provide gaming software support, game aggregation services, certified game content, technical integration and related operational assistance.

Financial terms of the deal were not disclosed. The filing stated that any revenue sharing, commissions or economic benefits arising from the cooperation would be agreed by the parties based on their respective contributions.

International Entertainment said it had obtained a legal opinion from a Philippine counsel confirming that the proposed online gaming operations would comply with local law. 

The company also received advice that the business would not contravene Hong Kong’s Gambling Ordinance because the platform will be accessible only within the Philippines through Internet-protocol blocking measures required by Pagcor regulations.

NCLI operates LaVie Resort & Casino Manila and holds several Pagcor-issued permits. That includes an electronic (e-Casino) games operator licence; certificate of accreditation as a Gaming System Administrator of Pagcor-licensed gaming venues for electronic games; and a certificate of accreditation as a game content provider.

TGXI is described as an “experienced” online gaming operator. Its parent, DigiPlus, is also the holder of HKD1.6 billion (US$204.2 million) in convertible bonds issued by International Entertainment. The filing noted that TGXI and DigiPlus are regarded as independent third parties for listing-rule purposes.

International Entertainment said the Philippine online gaming market was benefiting from supportive government policies, technological advances and growing consumer demand. 

The firm cited industry forecasts suggesting the country’s gaming market could reach nearly US$9.9 billion by 2033, “representing a compound annual growth rate of 8.29 percent for 2025 to 2033”.

“The directors are of the view that the online gaming sector in the Philippines is undergoing rapid expansion,” the company said, adding that participation in the segment would “broaden the group’s revenue base, improve operational scalability, and create new growth drivers”.

“This structure allows the group to capitalise on TGXI’s established online gaming infrastructure, significantly reducing the time and resources required to build a platform from the ground up,” International Entertainment added.