Philweb’s key subsidiaries include BigGame Inc., Premyo sa Resibo Inc.,e-Magine Gaming Corp., Philweb Convergence Corp. and Philweb Asia-Pacific Corp. AS MANY as 5,000 workers stand to lose their jobs if one of the country’s largest gaming firms fails to have its license renewed by government regulators―a possible consequence of President Duterte’s stance against online gambling. Philweb said Ongpin stepped down to focus on real estate projects developed byAlphaland Corp., where he has a majority stake. Philweb president Dennis Valdes said on Sunday that if the firm’s contract with Pagcor was canceled or not renewed, the company’s license to operate would immediately cease. Philweb has managed Pagcor’s e-Games network for the past 14 years and has remitted over P14 billion to the government.

Source: Philippine Daily Inquirer August 07, 2016 17:15 UTC