Philippine gaming technology firm PhilWeb Corp. has appointed lawyer Marie Antonette “Tonet” B. Quiogue as an independent director as part of a broader board reshuffle following a management-led takeover of the company.
In a disclosure dated March 6th, PhilWeb said its board accepted the resignations of directors Edgar N. Ang, Mario A. Oreta, William M. Valtos Jr., and Philip S. Tuazon. The changes were made in connection with obligations under a share purchase agreement involving Gregorio Araneta Inc., Nexora Holdings Inc., and Velora Holdings Inc.
Quiogue joins the board alongside newly elected director Tsu Chuan Tseng and independent directors Daniel Tirona Francisco and Anthony Ferdinand C. Yu. The appointments took effect on March 5th and also resulted in the reconstitution of the company’s corporate governance and audit committees.
Quiogue, a legal adviser in the gaming sector, is the founder and chief executive officer of Arden Consult, a firm specializing in legal, regulatory, and strategic advisory services for gaming and digital industries. She holds a Master of Laws degree from Columbia Law School, an MBA from De La Salle University, and a Juris Doctorate from Far Eastern University Institute of Law, where she graduated as valedictorian.
The board changes follow a management-led takeover of PhilWeb earlier this year. The ownership shift saw Nexora Holdings Inc., together with co-investor Velora Holdings Inc., acquire a 57.78 percent stake in the company from Gregorio Araneta Inc., making businessman Crisanto Roy B. Alcid the new beneficial owner of PhilWeb.
The transaction triggered a mandatory tender offer for up to 449.16 million public shares, representing about 31.28 percent of the company’s outstanding stock, priced at PHP2.17 ($0.037) per share. However, no shares were tendered during the offer period from January 19th to February 16th, 2026.
The lack of participation came as PhilWeb’s stock had surged more than 760 percent over the previous 12 months and was trading far above the tender offer price, according to InsiderPH.
PhilWeb has recently expanded its digital gaming footprint through platform partnerships, including integrating its technology into FBM Philippines’ electronic gaming venues and supporting operations such as Hann Online, the digital gaming arm of Hann Casino Resort in Pampanga.
