DigiPlus looks forward to PSEi inclusion
DigiPlus Interactive Corp. still expects to be inducted into the Philippine Stock Exchange index, the benchmark index that consists of the 30 largest firms that trade on the local bourse, despite ongoing travails.
DigiPlus chair Eusebio Tanco on Friday said in a press briefing that the company behind popular online games like BingoPlus and Arena Plus was doing business as usual.
“We are not operationally affected, we’re on track with [our business plans]. It’s just our stock price that was affected. Nothing has changed except [there were] hurt feelings,” Tanco said.
He was referring to the impact of proposed measures that were filed in Congress for tighter rules on online gambling.
Before his talk with reporters, Tanco told stockholders in their annual meeting that DigiPlus had seen its revenues hit P75.2 billion in 2024. That was almost triple the P27.3-billion top line in 2023 and a nine-fold increase from P8.9 billion in 2022.
Also, the company’s net income surged to P12.6 billion in 2024 from P4.1 billion in 2023 and P686.8 million in 2022.
Meanwhile, DigiPlus’ stock price took a beating on concerns about planned stricter regulations or even an outright ban.
Last July 17, DigiPlus shares fell by 29.96 percent to P19.54 apiece. It was also a 70-percent plunge from its 52-week high of P65.30 per share recorded on June 11. That was weeks before lawmakers began supporting calls for a ban on online gambling.
“With all that’s been going, it doesn’t matter. We’re still the same strong company that asset managers recommend to investors,” Tanco said.
“We’re behaving. We follow rules. We’re legal. We pay all the taxes we need to pay. Why us?” he lamented.
Also on Friday, DigiPlus announced that it was taking steps to enter the South African market. This, as the company prepares to start operations in Brazil this coming September.
In a disclosure, the company said it was preparing to file its license applications with the Western Cape Gambling and Racing Board (WCGRB). DigiPlus said WCGRB was the preferred jurisdiction for local and global operators due to its transparent regulatory processes and digital readiness.
“The licensing process [in South Africa] is very, very rigorous. But that’s exactly what we want and that’s exactly what we’re good at,” Tanco said in the press briefing.
In the Philippines, DigiPlus counts 40 million registered users across its platforms.
Celeste Jovenir, DigiPlus vice president of Investor Relations, corporate communications and sustainability, said customer activities have not faltered despite recent issues concerning online gambling.
