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Roberto Ongpin Sells Off Remaining Phil Web Shares
PHILIPPINES E-GAMBLING MOGUL SELLS OFF REMAINING INTEREST IN PHILWEB
Fire sale pricing on 53.76 percent stake of company.
The damaging effects of Philippines president Rodrigo Duterte's attacks on e-gaming technology group Philweb and main shareholder Roberto Ongpin were again in evidence this week as former chairman Ongpin sold his 53.76 percent stake in the company to its new chairman, Gregorio Araneta, for just P2 billion (US$41.4 million).
Ongpin's fire sale after attempting unsuccessfully to offload the shares to Pagcor saw the 771.65 million shares priced at P2.60 per share, a 58 percent discount on Wednesday’s closing price.
KPMG professional business services announced that the transaction will be implemented in two tranches, with the first tranche of 653.15 million being completed on Wednesday through a special block sale at the Philippine Stock Exchange; and the second tranche consisting of 118.5 million shares will be completed as soon as they are registered at the PSE.
Following the divestment, Philweb said that Ongpin would have no further involvement with the company.
“With the divestment of Ongpin, the new management of PhilWeb will now reapply for the continuation of its license with the Philippine Amusement & Gaming Corp. for its nationwide network of eGames cafes,” a Philweb statement announced.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgaming’s customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sunday’s 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at –115.
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