The amount equates to a 20 percent stake at PhilWeb at two centavos per share, PLDT said in a statement. ePLDT is also entitled to three seats in PhilWeb's 15-man board of directors.
PhilWeb is a niche player in Internet gaming and is licensed by the Philippine Amusement and Gaming Corporation (PAGCOR). The company operates more than 200 Internet Sports Betting stations and more than 40 Internet casino stations nationwide.