Araneta eyes Pagcor license for PhilWeb before yr-end

BUSINESSMAN Gregorio Araneta III expects to fully take over PhilWeb Corp. and secure a license from the Philippine Amusement and Gaming Corp. (Pagcor) before the year ends so that the company can restart operations, saying that talks with the Securities and Exchange Commission (SEC) and gaming regulator are already underway.

Araneta, who is the new chairman of PhilWeb, said over the weekend that securing a Pagcor permit was “already in progress” and is expected to be completed before the end of the year.