DENNIS O. VALDES is leaving his posts as president and director at PhilWeb Corp. to take the helm at Ongpin-led Alphaland Corp.
The listed gaming company told the stock exchange yesterday Mr. Valdes has filed his resignation effective Jan. 31 and will be replaced by current Senior Vice-President for Gaming Brian K. Ng.
“We are very pleased with the election of Brian to the post of president. His capable handling of our gaming operations over the past years gives us great confidence that he will bring fresh ideas and renewed energy to the task of propelling PhilWeb to new heights, especially as we continue our dual push in e-casino and e-bingo,” Mr. Valdes was quoted as saying in a statement.
Mr. Ng joined PhilWeb in January 2011 and has since held his current role. Before joining the gaming firm, he was managing director and country manager at Affinity Express Philippines, Inc.; vice-president and country manager at RR Donnelley Global Outsourcing; director for operations at OfficeTiger Philippines Corp.; and director of special projects at SPi Global.
He also teaches as an instructor at the undergraduate and graduate levels at Ateneo universities, where he likewise earned his Bachelor of Arts in Philosophy and Master of Business Administration.
PhilWeb is currently owned by Gregorio Ma. Araneta III after Roberto V. Ongpin sold all his shareholdings in the firm in 2017. It said it had 89 electronic gaming outlets as of end-2019, composed of 66 e-Games and 23 e-bingo outlets. In the nine months to September it reported trimming its losses by 62% to P26.79 million after a 33% rise in revenues to P394.91 million.
Alphaland, Mr. Ongpin’s other firm where Mr. Valdes will be moving into, is the company behind exclusive leisure spots and hotels such as Balesin Island Club, Alphaland Baguio Mountain Lodges and The Alpha Suites.
Shares in PhilWeb at the stock exchange slipped 3.45% to P2.52 each on Thursday. — Denise A. Valdez
