A day after the Philippine government has rejected an offer from businessman Roberto Ongpin to donate 49% of his shares in Philweb to the Philippine Amusement and Gaming Corp (Pagcor), Ongpin today made another donation attempt. “And as he has pointed out, the elimination of drug lords and drug pushers will not succeed unless this is complemented by an effective drug rehabilitation program”, he stressed.
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“While one could agree that gambling is undesirable, nothing could be more pernicious than the drug menace which destroys the very fabric of our youth and our society, and which admirably, the President has chosen as his first priority”, he said in a letter to the Pagcor board dated August 19.
“It is the President’s (Rodrigo R. Duterte) and his government’s opposition to on-line and on-site electronic gaming because of the social ills and decay they foist on our communities as they cater to the more economically vulnerable portion of our population”.
Ongpin said in a letter to Pagcor chief executive Andrea Domingo the amended proposal was his final attempt to save PhilWeb and more than 6,000 jobs that would be affected by the non-renewal of the company’s gaming license.
The donation can also be initially channelled to PAGCOR, which will then allot funds for drug rehabilitation, Mr. Ongpin said.
Mr. Ongpin announced his divestment from the listed gaming technology provider after PAGCOR decided against renewing its contract for the e-Games network, a move the businessman viewed as mere outcome of President Rodrigo R. Duterte’s tirades against him. The businessman had earlier resigned as Chairman of the firm after Duterte referred to him as an “oligarch” and explained that his “no strings attached” offer would subsequently allow the government to retain a 49% stake in the company or sell its shares partially or in full.
All of its staff have been out of work since PhilWeb’s license expired.
“The issue is not RVO (Roberto V. Ongpin) or PhilWeb per se”.
Duterte became leader of the country in June and has vowed to “destroy” online gambling in a campaign that has already led to the resignation of the chairman of PhilWeb Corp, a leading gaming technology provider.
“I, of course, have no choice but to accept this decision by PAGCOR”.
“I would also like to avoid a scenario where about 131 operators [who are business partners of PhilWeb Corporation] who have invested an estimated total of $38.89 million in their e-Games operations are suddenly deprived of their business and their investments go up in smoke”, read a statement from Ongpin.
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PhilWeb, he said, had appropriated P100 million a year or 10 percent of its profits, and P2 million to P3 million monthly to maintain the center.
