PhilWeb gets ₱2.02B equity investment from Lance Gokongwei

PhilWeb Corporation (PSE: WEB), a Philippine Stock Exchange-listed technology company, announced it has entered into a definitive agreement for a ₱2,026,978,840 strategic equity investment from businessman Lance Y. Gokongwei.

The investment will be facilitated through a proposed increase in PhilWeb's Authorized Capital Stock from ₱2.6 billion to ₱3.6 billion, subject to corporate, stockholder, and regulatory approvals.

According to the company, proceeds are intended to fund the integration of artificial intelligence and data capabilities across its technology platform, including risk management and compliance systems, data analytics, recommendation and retention tools, and operational automation.

PhilWeb said it serves licensed digital entertainment operators in the Philippines, including Hann Casino, Okada Manila, Newport World Resorts, NUSTAR Resort and Casino, FBM Philippines, and PT Gaming.

"His investment represents a strong endorsement of our technology platform and long-term vision," said Edgar Brian K. Ng, President of PhilWeb Corporation. "Data intelligence and automated compliance tools are becoming essential layers of modern digital infrastructure."

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