Lance Gokongwei to buy 15% stake in PhilWeb

The JG Summit Holdings president and CEO Lance Gokongwei intends to make a personal investment in PhilWeb Corporation.

The Philippines.- JG Summit Holdings president and CEO Lance Gokongwei is to make a personal investment of PHP2.02bn (US$32.8m) for a 15 per cent stake in PhilWeb Corporation. He will receive a 10 per cent stake in common shares and 5 per cent stake in convertible preferred shares.

The investment is intended to aid the company’s investment in artificial intelligence while expanding the billionaire’s exposure to the gaming industry. The announcement caused PhilWeb shares to initially increase by more than 8 per cent to their highest price in nearly a decade

The investment is being conducted independently of JG Summit Holdings and its publicly listed affiliates.

PhilWeb has accelerated its transformation into a regulated online gaming technology and aggregation provider following a management-led buyout completed earlier this year. The company, previously controlled by Gregorio Araneta, has since secured PAGCOR B2B accreditation under the regulator’s new framework for gaming service providers. It’s signed commercial agreements with operators, including Hann Casino Resort, Okada Manila, NUSTAR Resort Cebu, Newport World Resorts, and FBM Philippines.

PhilWeb returned to profitability in the first quarter of 2026, posting net income of PHP13.9m.