PhilWeb announces departure of vice chairman

Jul 22, 2014 Newsdesk Industry Talk, Latest News, Philippines  

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PhilWeb Corp, which operates Internet cafés across the Philippines that are dedicated to casino games, announced on Tuesday that Eric O. Recto has resigned as vice chairman and member of the board of directors. Mr Recto’s resignation is “effective immediately”, the company told the Philippine Stock Exchange.

PhilWeb said Mr Recto wants to focus on his roles as chief executive of ISM Communications Corp and as chairman of the board at Philippine Bank of Communications Inc.

The company is yet to announce a replacement.

PhilWeb reported a drop in profit for the three months to June 30. The company’s current main business consists of licensing proprietary software and providing technical, marketing and cash management services to state-owned Philippine Amusement and Gaming Corp’s (Pagcor) e-Games cafés.

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