PAGCOR refuses to waver on PhilWeb stance

Beleaguered businessman Roberto Ongpin can revise his proposals to save PhilWeb all he wants, but the Philippine Amusement and Gaming Corporation (PAGCOR) will not budge on its decision.

Last week, Ongpin made several last ditch attempts to save the gaming technology provider from the wrath of Philippine President Rodrigo Duterte. First, the businessman announced he would donate 49 percent of his 771.75 million PhilWeb shares to PAGCOR. When the state regulator refused, Ongpin altered his offer to appeal to Duterte’s other war—drugs.

In his final Hail Mary pass, the embattled businessman said the government can use his donation to build a network of drug rehabilitation centers co-managed by the private sector.

Still, PAGCOR stood firm in rejecting Ongpin’s offer.