Latest news with #DigiPlus
GMA Network
2 days ago
- Business
- GMA Network
PSE shakes up bellwether: DigiPlus in, Bloomberry out
For the bellwether PSEi, the major change was the inclusion of online betting giant DigiPlus Interactive Corp., replacing casino-resort Solaire's operator Bloomberry Resorts Corp. Local bourse operator Philippine Stock Exchange Inc. on Friday announced changes in the composition of the stock market's indices, including the PSE index (PSEi) —the local stock barometer. In a memorandum dated August 8, 2025, the PSE revealed the results of its regular review of the PSEi, sectoral, PSE Dividend Yield, and PSE MidCap indices covering the trading activity period from July 2024 to June 2025. For the bellwether PSEi, the major change was the inclusion of online betting giant DigiPlus Interactive Corp., replacing casino-resort Solaire's operator Bloomberry Resorts Corp. 'Joining the PSE Index is more than a corporate milestone for us at DigiPlus. It's a powerful statement that homegrown Filipino companies can lead in the digital age," DigiPlus chairman Eusebio Tanco said in a statement. "We've created a new kind of digital entertainment company, one that doesn't just catch up on trends, but pioneers platforms that resonate with real people,' he added. The changes in the composition of the PSEi will take effect on August 18, 2025. To qualify for inclusion in the PSEi, a listed firm should be among the top companies in terms of liquidity and market capitalization. The PSEi is the main index of the PSE, composed of 30 companies, which provides an overview of the stock market's overall health by gauging changes in the share prices of the select listed firms. The local stock market review also resulted in changes in other indices, such as the PSE Dividend Yield and PSE MidCap indices. Now included in the PSE Dividend Yield index were liquor distributor The Keepers Holdings Inc. and Puregold Price Club Inc., replacing restaurant chain Figaro Culinary Group and Gokongwei-led snacks and beverages maker Universal Robina Corp. Added to the PSE MidCap index were Asia United Bank, Bloomberry, OceanaGold (Philippines) Inc., replacing GMA Network Inc., Petron Corp., and DigiPlus. The PSE Dividend Yield index, composed of 20 listed firms, focuses on companies that consistently give high-yielding dividends. Companies in this index are selected based on liquidity and three-year average dividend yield performance. The PSE MidCap index, also composed of 20 companies, is designed to provide a snapshot of the performance of mid-sized companies in the Philippine market. For the sectoral indices —namely Financials, Industrial, Holding Firms, Property, Services, and Mining and Oil— the PSE also announced composition changes. For the Financials index, the local bourse operator said it added National Reinsurance Corp. For the Industrial index, the PSE added Concepcion Industrial Corp., Citicore Renewable Energy Corp., and Vitarich Corp., while removing Basic Energy Corp., EEI Corp., and Max's Group Inc. Added to the Holding Firms index was ATN Holding Inc. No change was effected on the Property index, while the Services index saw the removal of Pacific Online Systems Corp. For the Mining and Oil index, the PSE included Lepanto Consolidated Mining Company and OceanaGold (Philippines). –NB, GMA Integrated News
GMA Network
25-07-2025
- Business
- GMA Network
DigiPlus announces plan to expand ops to South Africa
Digital gaming giant DigiPlus Interactive Corp. — the company behind BingoPlus, ArenaPlus, and GameZone — is expanding further to the global arena as it eyes to capture South Africa's online betting market. This development was announced by DigiPlus Chairman Eusebio Tanco during the company's annual stockholders meeting in Taguig City. Eusebio described the digital gaming firm's plan to enter South Africa as the 'next phase of its international growth strategy' to follow its scheduled launch in Brazil this September. In a disclosure to the Philippine Stock Exchange, DigiPlus said it is preparing to file its license applications with the Western Cape Gambling and Racing Board (WCGRB) — the preferred jurisdiction for local and global operators due to its transparent regulatory processes and digital readiness. The company added that it will also apply for three licenses, namely National Manufacturer License, Bookmaker License, and Bookmaker Premises License. Key employee licenses will also be secured to support operational leadership, according to DigiPlus. 'We're applying now, it will take about six months to get the licenses,' Tanco said at a press briefing. DigiPlus, in its regulatory filing, said the licensing process in South Africa begins with intensive probity checks for both the company and its ultimate beneficial owners (UBOs). The company added that it is also establishing a local legal entity in South Africa, in line with licensing requirements that allow foreign ownership and directorship. 'We are thrilled to take this next bold step in our international journey,' Tanco said. 'South Africa is not just the largest online gaming market in Africa, it's a gateway to the continent's digital future. As we expand from Southeast Asia to Latin America and now Africa, we remain committed to responsible innovation, local compliance, and developing products that connect deeply with culture and community,' he added. DigiPlus said the South African online betting industry, valued at $1.6 billion in 2023 and 2024, continues to grow and projected by up to 5% annually, driven by rising mobile use, a digitally engaged population, and robust demand for live sports betting. — BAP, GMA Integrated News
GMA Network
23-07-2025
- Business
- GMA Network
DigiPlus says total online gambling ban risks thousands of jobs
DigiPlus Interactive Corporation—the company behind popular online games BingoPlus, ArenaPlus, and GameZone— on Wednesday reiterated its appeal to lawmakers to reconsider plans to legislate a total ban on online gambling, warning of massive job losses across the industry. In a statement, DigiPlus chairman Eusebio Tanco said the digital entertainment company is 'open to evolving and improving wherever needed.' 'If there are new standards to meet, or better ways to protect players, we will act swiftly and responsibly. But please, do not condemn an industry, and the 50,000 Filipino families who rely on it, without hearing the facts first,' Tanco said. Lawmakers have proposed a ban on online gambling, arguing that tighter industry regulations as proposed by some of their other colleagues would not be enough. The Department of Health said online gambling is a health issue. President Ferdinand "Bongbong" Marcos Jr. said he will be studying the issue, including online gambling's possible effects on Filipinos' health and the economy. The DigiPlus chairman said the consequences of a total ban on online gambling 'go far beyond corporate risk.' 'More than 3,000 direct DigiPlus employees, and an estimated 50,000 jobs across the online gaming industry's nationwide network, including those in information technology, cybersecurity, software development, as well as multimedia artists, call center agents, security personnel, and housekeeping staff are now at risk,' he said. He added that banning licensed operators will not make online gaming go away, repeating his earlier assertion that a ban 'will only drive players toward illegal, unregulated sites with no safeguards.' Tanco expressed concern that responsible and law-abiding operators are 'being swept into a tide of suspicion meant to catch those who have never complied with regulation in the first place.' The DigiPlus chairman said the company 'has always done its best to align its operations with regulatory expectations from PAGCOR and other relevant government agencies.' 'Tell us what more we must do. And we will do it without hesitation. Just grant us the fairness owed to any lawful Filipino enterprise. We stand licensed, audited, and transparent, yet we are made to answer for the crimes of illegal operators who respect neither law nor livelihood,' Tanco said. 'We are appealing to the government: Let us approach this rationally. If we study the issue with clear eyes, we will see that the social ills being blamed on online gaming stem from the illegal market. That is where underage gambling happens. That is where financial abuse thrives. Target that, and the harm disappears,' he said. Tanco said that the company and the licensed gaming operators 'are not asking for special treatment,' but are 'simply asking to be judged by our actions, not by perception, nor by association with those who break the law.' 'Regulation works best when it uplifts what is working, not when it dismantles it,' he said. — Ted Cordero/BM, GMA Integrated News
GMA Network
16-07-2025
- Business
- GMA Network
DigiPlus calls on lawmakers to rethink total online gambling ban
DigiPlus Interactive Corporation—the company behind popular online games BingoPlus, ArenaPlus, and GameZone—called on lawmakers to rethink moves to legislate a total ban on online gambling, backing tighter rules to ensure the protection of players. In a statement on Wednesday, DigiPlus expressed support for 'smart, balanced regulation that protects players, ensures industry accountability, and sustains the economic value generated by the legal online gaming sector' as calls mount for stricter controls on online gambling. 'We believe regulation is the path to player protection. It's the only way to safeguard players, preserve jobs, and close the door on illegal, underground platforms that operate without any oversight,' said DigiPlus chairman Eusebio Tanco. With this, the online games company urged policymakers 'to weigh the consequences of a total ban,' saying that the experience of other countries 'has shown that banning licensed platforms does not eliminate demand for online gaming, but merely shifts users to unregulated black markets where there are no protections, no taxes, and no accountability.' DigiPlus further said that a well-regulated environment can protect players, generate billions in government revenue, and sustain over 40,000 jobs across tech, marketing, entertainment, customer service, and compliance. 'With the right rules in place, the Philippines can be a model for safe, transparent online gaming in Asia,' said Tanco. 'We are ready to work hand-in-hand with regulators, legislators, and community groups to make that vision real,' added the DigiPlus chairman. DigiPlus said it has consistently aligned with the principles being raised by lawmakers and advocacy groups, adding that many of the proposed safeguards are already embedded across its platforms. It said that all users undergo strict Know-Your-Customer (KYC) verification, including government ID checks and age gating. Responsible gaming features, such as deposit limits, self-exclusion options, and cooling-off periods, have been readily accessible since November 2024, the company said. DigiPlus said it is rolling out a new wave of initiatives, which would include enhanced affordability checks, behavioral nudges to curb excessive gaming, and referral pathways to licensed mental health experts. This month, the company said it will launch an in-app community spaces to engage players in responsible gaming conversations and peer support. DigiPlus said it complies with existing advertising restrictions and is actively revising its promotional strategies in light of new government guidance. Moreover, it said that its internal marketing mandate prohibits targeting minors, avoids depictions of wealth or urgency, and excludes messaging that could be construed as predatory. DigiPlus said its existing safeguards are not reactions to regulatory pressure, but part of a multi-year strategy to build a responsible gaming ecosystem. The company added that it invests in data science, player support systems, and compliance technologies. DigiPlus said it fully supports updated legislation, particularly around stronger penalties for illegal operators, and clearer advertising standards. — BM, GMA Integrated News
GMA Network
08-07-2025
- Business
- GMA Network
Lawmakers push for stricter regulations on online gambling amid moves to ban
"That money doesn't vanish. It goes directly into hospitals, schools, infrastructure projects, community programs, and social services that improve our daily lives," Benitez said, referring to the billions in revenues yearly. First-term House members on Tuesday pushed for improved regulations on online gambling amid measures seeking restrictions and even a total ban. Negros Occidental Rep. Javi Benite said regulated online gambling generated over P200 billion in revenues annually. He added that more than 40,000 Filipino workers depended directly on regulated online gambling platforms. Bicol Saro party-list Rep. Terry Ridon said smarter government regulatory policies are the way to go, citing the need for balance as "there are actual government revenues generated through online and physical gambling activities." "That money doesn't vanish. It goes directly into hospitals, schools, infrastructure projects, community programs, and social services that improve our daily lives," Benitez said, referring to the billions in revenues yearly. Benitez said the online gaming platform DigiPlus reported paying P33.7 billion in taxes. "This is because legal, regulated platforms keep gambling transparent and accountable,' Benitez said. Benitez is the son of Bacolod City Rep. Albee Benitez, the founder of the online gaming platform DigiPlus. The elder Benitez has since divested control of the company. '[DigiPlus verifies] ages to protect minors, ensure games are fair, prevent exploitation, and help spot and support people struggling with gambling addiction early, which is not possible when with underground operators. Outright bans only make matters worse,' Benitez said. As regards the workers relying on online gambling, Benitez said, "These are real people with families, relying on these jobs for food, education, healthcare, and a better life." "That is why I fully support stricter regulations, including smarter, tighter controls to protect citizens and maximize public benefit,' Benitez said. "The reality is simple: Gambling is here to stay. The only question is whether we want it safely regulated and benefiting our communities or unregulated and controlled by criminals. Let's protect Filipino jobs, fund essential services, and keep our people safe," he added. Ridon said it was "to decouple the access of online gaming in popular payment platforms because that could use up all the money people have." 'For one, a physical cash-in can be implemented, just like when you are placing your bet in lotto, wherein the person goes to the physical lotto outlet,' Ridon added. Ridon suggested raising the minimum cash-in for bettors, which could be pegged at P10,000 or P20,000 to ensure that the bettors would think twice about spending that much instead of spending it on groceries and school expenses, among other necessities. 'This is a huge difference from the current setup, wherein you can bet as low as P1 or P20,' Ridon said. Senator Juan Miguel 'Migz' Zubiri on Monday filed his proposed Anti-Online Gambling Act of 2025, seeking to mandate internet service providers, mobile network operators, and digital platforms to block access to gambling websites and remove related apps within 72 hours upon notice from the Department of Justice or Philippine Amusement and Gaming Corporation. At the House of Representatives, Akbayan party-list Representatives Chel Diokno, Perci Cendaña, and Dadah Ismulla filed House Bill 1351 seeking to limit access to online gambling or the Kontra e-Sugal Act. Under the proposal, access to online gambling or casinos will be limited by imposing the following measures: establishment of strict age verification protocols prescribing limits on advertising and promotion implementing a national- self-exclusion registry imposing betting loss limits prescribing minimum guidelines for player protection creating a harm mitigation levy recognize gambling disorder as a public health condition banning campaign contributions from gambling operators and implement strict penalties for unlicensed operators and non-compliant persons. –NB, GMA Integrated News
