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What is Roberto V. Ongpin EndGame For PhilWeb

WHAT IS ONGPINS END GAME? (Update)
 
Manoeuvring in the Philippines as former chairmans auction completes.
 
Former Philweb chairman Roberto V. Ongpin is keeping observers guessing in the latest manipulation of his majority 53.76 percent shareholding in the beleaguered company.
 
Reports from Manila this morning (Wednesday) are that the controversial businessman claims to have received five bids for the 771 million shares....but that he has decided not to accept any of them.
 
Ongpin told the Manila Enquirer:
 
“Due to the reports in the media that under no circumstances will the Philweb license be renewed, I have decided that it is not appropriate, nor fair to the bidders for me to award my shares to any of them.
 
“As you know, the bid is contingent on the renewal by Pagcor of Philweb’s license and the reports in the media that the license will not be renewed under any circumstances render the auction process moot and academic.”
 
Instead, Ongpin has announced that he has offered to donate a 49 percent stake in Philweb Corp. to the state-owned Philippine Amusement and Gaming Corp. (Pagcor). PAGCOR has declined to renew Philwebs licence .
 
Ongpin has also offered to donate another 4.7 percent stake in Philweb to the Ateneo de Manila University JVO (Jaime V. Ongpin) Scholarship Fund, the newspaper reports, quoting from a letter dated August 17 sent to PAGCOR chief Andreas Domingo by the businessman.
 
Ongpin hopes that his donation to Pagcor will save the jobs of about 700 Philweb employees, plus about 5,000 others who are employed by operators in 286 e-Games sites.
 
The former chairman says that he opted for a 49 percent donation to PAGCOR to avoid Philweb being classified as a government-owned and -controlled corporation (GOCC), which would make various restrictions applicable and make operations untenable.
 
Philweb was valued by the stock market at P10.77 billion as of Wednesday’s close, with Ongpins 53.76 percent stake worth about P5.8 billion.
 
Ongpin says there are "no strings attached" to his offer, and that PAGCOR "...can decide whether to retain it as a permanent invest or auction all or part of it off to the highest bidder.”

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Gambling News :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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