Pagcor rejects Ongpin's PhilWeb shares donation

Thursday 18th of August 2016

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 they foist on our communities as they cater to the more economically vulnerable portion of our population," said Pagcor Chairman Andrea Domingo in a statement on Thursday.

On Wednesday, Businessman Roberto Ongpin 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 offered to donate another 4.7 percent stake in Philweb to the Ateneo de Manila University JVO (Jaime V. Ongpin) Scholarship Fund.

But Domingo said the Philweb case was just the start of an industry wide crackdown.

"The campaign to correct or to stop previous gaming policies that bring about such pernicious social conditions just had to start with PhilWeb, simply because its license had expired," Domingo said, adding they will detail with similar cases involving other parties accordingly.

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