Tycoon Lance Gokongwei has joined the board of directors of PhilWeb Corp. following his strategic investment of P2.03 billion in the listed gaming service provider, Philstar Biz reported.
Gokongwei's appointment underscores his growing involvement in the gaming and entertainment sector. PhilWeb, which provides electronic gaming systems and services to the Philippine Amusement and Gaming Corporation (PAGCOR), stands to benefit from his extensive business experience across various industries.
The P2.03-billion investment is seen as a vote of confidence in the company's prospects amid the recovery of the gaming industry in the Philippines. PhilWeb shares have shown renewed interest from investors following the announcement.