Latest news with #DigiPlusInteractiveCorp
GMA Network
5 days ago
- Business
- GMA Network
GSIS says funds secure, welcomes Senate probe into online gaming investment
In a statement on Wednesday, GSIS said it 'fully supports transparency and accountability in all its investment activities and shall cooperate with oversight institutions and regulatory bodies in connection with its investment in DigiPlus Interactive Corp.' The Government Service Insurance System (GSIS), the pension fund for state workers, is open to an investigation into its investment activities after a senator flagged its purchase of shares in an online gaming company. In a statement on Wednesday, GSIS said it 'fully supports transparency and accountability in all its investment activities and shall cooperate with oversight institutions and regulatory bodies in connection with its investment in DigiPlus Interactive Corp.' 'We welcome the scrutiny and call for public disclosure from various sectors, and we are prepared to present all relevant documents and data to the appropriate authorities. As stewards of public trust, we affirm our unwavering commitment to act in the best interests of our members and pensioners,' the pension fund said. GSIS issued the statement after Senator Risa Hontiveros, in her privilege speech, revealed that the pension fund had invested approximately P1 billion in DigiPlus when its share price was at its peak of P65.30 per share, but had since dropped to a low of P13.68 per share. With this, Senator Erwin Tulfo made a manifestation on the floor, committing to investigate the information divulged by Hontiveros. Amid the investment issue, GSIS made an assurance that 'the GSIS Social Insurance Fund remains strong, secure, and actuarially sound.' In particular, the pension fund stated that its total assets stood at P1.88 trillion as of the end of June 2025 and it recorded a net operating income of P76.82 billion, representing a 31% year-over-year increase. 'We have consistently enjoyed a five-year average return on investments at 6.75%,' GSIS said. The pension fund said, 'in light of recent developments,' it will continue to comprehensively review its charter, investment policies, risk exposure thresholds, and sectoral guidelines, particularly those involving sensitive or high-risk industries. 'This will ensure alignment with our members' evolving expectations and the highest standards of ethical and fiduciary responsibility,' GSIS said. 'We remain guided by our mandate: to protect and grow the hard-earned contributions of government workers… Still, we recognize that public trust must be continuously earned,' it added. –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
Bloomberg
18-07-2025
- Business
- Bloomberg
DigiPlus Turns World's Worst Casino Stock on 70% E-Gaming Plunge
DigiPlus Interactive Corp. has turned from one of the world's hottest casino stocks to the absolute worst as the Philippines moves to curb online gambling. Its shares have plunged around 70% from a record high reached just last month, the worst performance among 150 globally listed gaming firms. The stock fluctuated wildly Friday after suffering its worst one-day drop in over 20 years a day earlier.
GMA Network
07-07-2025
- Business
- GMA Network
DigiPlus to buy back P6-B shares
BingoPlus operator DigiPlus Interactive Corp. on Monday announced a P6-billion share buyback program, which it said demonstrates its confidence in the company's long-term growth amid proposals in Congress to implement stricter rules on online gaming. DigiPlus said the share repurchase program, approved by its board of directors, is valid over a 12-month period and can be renewed subject to approval. It will be funded through internally generated cash flows. 'The share repurchase program demonstrates our firm confidence in DigiPlus' long-term growth and solid fundamentals,' DigiPlus chairman Eusebio Tanco said in a regulatory filing. 'By strategically deploying our capital through this buyback, we are sending a clear signal that DigiPlus is committed to delivering sustainable returns for shareholders while remaining well-positioned to pursue expansion and innovation,' he added. Aside from BingoPlus, DigiPlus also operates ArenaPlus and GameZone. Its subsidiaries include Blue Chip Gaming and Leisure Corp., First Cagayan Leisure and Resort Corp., LR Data Center Solutions Inc., AB Leisure Global Inc., LR Land Developers Inc., Bingo Bonanza (HK) Limited, Prime Investment Korea Inc., and Hotel Enterprises of the Philippines Inc. The company last week said it is on track to launch operations in Brazil this September, after its wholly-owned subsidiary DigiPlus Brazil Interactive Ltd. passed the qualification stage for a federal license in November 2024. 'DigiPlus remains well-capitalized, balancing disciplined capital management with its investments in growth, technology, and new markets,' it said. Shares in DigiPlus closed last Friday at P29.50, down by 23.87%. They were last trading at P33.30 apiece, up by P3.80 or 12.88%. Just last week, Senator Sherwin Gatchalian proposed a measure imposing strict regulations for online gambling, including banning the use of e-wallets, increasing the minimum age from 18 to 21, and having a minimum bet of P10,000 and a top up of P5,000. The Bangko Sentral ng Pilipinas (BSP) has also circulated a draft circular which seeks to require Philippine financial institutions to limit the gaming access of their users, in a bid to protect clients of digital platforms from risks associated with online gambling. —AOL, GMA Integrated News
GMA Network
17-06-2025
- Business
- GMA Network
DigiPlus secures spot in Fortune list of fastest-growing firms
DigiPlus Interactive Corp. (DigiPlus) has secured its spot in the Fortune Southeast Asia 500 list, making it as one of the region's largest and fastest-growing companies by revenue. The digital entertainment leader moved up more than 259 notches from last year, reflecting sustained growth in its 2024 financial performance. This also solidified its status as a leading force when it comes to the Philippine gaming and entertainment landscape. 'Being part of Fortune's list is a reflection of the trust we've earned and the impact we deliver,' DigiPlus Chairman Eusebio Tanco said in a press release. 'From building world-class gaming platforms, to pioneering self-exclusion tools, we are shaping a safer, more vibrant digital entertainment industry,' he added. The ranking marks DigiPlus' second consecutive year on the prestigious list, which names the 500 largest companies in Southeast Asia by revenue. The sharp climb reflects the company's 'standout 2024 performance,' which was achieved through the help of the ongoing demand for its flagship entertainment platforms BingoPlus, ArenaPlus, and GameZone. This also showed the firm's successful market expansion and deep commitment to innovation, regulation, and corporate responsibility. In 2024, the company paid P33.7 billion in taxes and regulatory fees, which funded government programs in public health, education, and infrastructure. Its platforms also led the way in responsible gaming, with in-app self-exclusion tools that enable players to cap deposits and set gaming time limits. Meanwhile, DigiPlus is allocating P150 million for social impact initiatives this year through its social development arm, BingoPlus Foundation, for programs in technology education, healthcare, and community resilience. — BAP, GMA Integrated News
