Philippines-based PhilWeb Corp says it would like to acquire what it termed “15 Pagcor e-Games stations” from existing independent operators, using up to 7.5 million of the company’s treasury shares.
Wednesday’s filing to the Philippine Stock Exchange made no mention of whether Pagcor – the Philippine Amusement and Gaming Corp, the country’s gaming regulator – had been approached regarding approval for such a move. The filing also did not identify the target businesses by brand name.
In August 2016, Pagcor had said it would not be renewing a licence PhilWeb had held for a network of e-Games parlours in that country. PhilWeb had been operating a chain of 286 Pagcor-licensed e-Games outlets, according to company data disclosed around that time.
Since the non-renewal of its former licence, PhilWeb has seen a shake-up of its leadership, and has issued several filings mentioning proposals for a return to gaming sector operations. So far the firm has not issued any follow-up filings to indicate any of its initiatives have been successful.
It had also been announced last year that Roberto Ongpin – an entrepreneur publicly criticised by the country’s president, Rodrigo Duterte – had resigned as PhilWeb chairman and had sought to divest his holding in the firm.
Feb 16, 2018Due to the Chinese New Year holiday, the GGRAsia team will be off between February 16 and 19. We will be back on February 20. We wish all our readers a prosperous Year of the Dog!
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”A challenge to Macau's economic model could potentially emerge over the longer term should China revise existing criminal laws that prohibit most forms of gambling in the mainland... Even in such a scenario, Fitch would expect this to occur gradually”
Fitch Ratings Inc