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Manila Bulletin devider Business devider The Stock Market devider PhilWeb shares jump as Lance Gokongwei bets ₱2 billion on 15% stake

PhilWeb shares jump as Lance Gokongwei bets ₱2 billion on 15% stake

Published Jun 24, 2026 10:35 am
Lance Gokongwei
Lance Gokongwei

Tycoon Lance Y. Gokongwei has made a ₱2.03-billion personal investment in gaming firm PhilWeb Corp., equivalent to up to 15 percent of its expanded outstanding common shares.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, June 24, PhilWeb said it has entered into a subscription agreement with Gokongwei, in his personal capacity, for the subscription of 159.53 million common shares and 93.84 million redeemable preferred shares at a subscription price of ₱8 per share.

This is a substantial discount to the current market price of ₱14.14, up 5.68 percent or ₱0.76 from Tuesday’s close.

The subscribed shares will be issued from the additional common and redeemable preferred shares to be created through the proposed increase in PhilWeb’s authorized capital stock from ₱2.6 billion to ₱3.6 billion, subject to the approval of the company’s stockholders, the Securities and Exchange Commission (SEC), and other applicable regulatory requirements.

“The transaction is intended to support the company’s capital-raising initiatives and related corporate initiatives,” PhilWeb said.

Upon completion of the subscription and the increase in PhilWeb’s authorized capital stock, Gokongwei shall hold 159.53 million common shares, representing approximately 10 percent of the company’s issued and outstanding common shares.

Assuming the conversion of all 93.84 million redeemable preferred shares into common shares, he will own approximately 15 percent of the company’s total issued and outstanding common shares. The listing of the subscribed common shares shall be subject to the approval of the PSE.

Gregorio Araneta III, the brother-in-law of President Ferdinand R. Marcos Jr., recently sold control of PhilWeb to two firms controlled and led by PhilWeb President Edgar Brian L. Ng.

The Gokongwei Group’s digital gaming platform NUSTAR Online tapped PhilWeb for a content partnership last March. This marked a strategic expansion of PhilWeb’s role within the Philippines’ regulated gaming ecosystem.

PhilWeb announced its entry into the game-content distribution and aggregation business following its recent B2B accreditation under the Philippine Amusement and Gaming Corp. (Pagcor) framework.

Under this initiative, PhilWeb is establishing relationships with leading global gaming content providers while simultaneously building a content-aggregation layer that enables licensed operators to access a broad portfolio of compliant gaming content through a unified platform interface.

In parallel, PhilWeb is integrating content from a wide range of global studios through aggregation arrangements, positioning its platform to deliver a diversified and continuously expanding content offering to licensed operators.

Initial launch deployments are expected to include PT Gaming and NUSTAR Online, the digital extension of NUSTAR Resort and Casino in Cebu province, representing two distinct and high-profile operator profiles within the Philippine market.

The firm has also been tapped by Okada Manila and Hann Casino for their forays into the online gaming space. PhilWeb has likewise forged a partnership with gaming equipment firm FBM for the deployment of 30,000 offline gaming machines nationwide. - James A. Loyola

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