LISTED digital entertainment firm DigiPlus Interactive Corp. said its business operations remain unaffected despite recent controversies and regulatory uncertainties.
“Operationally, we were not affected,” DigiPlus Chairman Eusebio Tanco told reporters late on Friday.
“It’s the stock price that has been affected,” he said in response to questions over the impact of reports that the government could ban online gambling.
Tanco stressed that DigiPlus was compliant with all regulations, pays the correct taxes and upholds good corporate governance.
“We are legal. We follow all the rules and regulations. We are a listed company,” he said.
The company also reiterated its support for further regulation of the gaming industry provided it targets illegal operations.
Tanco, however, warned against over-regulating the gambling sector, which he said could drive users to unregulated black-market platforms.
“There should be a balance … because if you overregulate, they migrate to the illegal,” he noted.
One proposal under discussion includes setting a P10,000 minimum cash-in threshold for online gaming, and DigiPlus President Andy Tsui said this could “push players to the black market,” where operators do not follow consumer protection rules.
He added that the company was still analyzing user behavior to craft a data-driven recommendation for regulators.
Asked to share his thoughts about President Ferdinand Marcos Jr.’s upcoming State of the Nation Address (SONA), Tanco said he trusted the administration to make level-headed decisions.
“I’m sure the President is a very level-headed person … If you really weigh the pros and cons, the best thing to do is to make everything legal,” he said, noting that gambling is embedded in Filipino culture and will continue whether it is regulated or not.
DigiPlus, which operates popular platforms such as BingoPlus and ArenaPlus, said it currently has over 40 million registered users.
Despite the share price volatility, Tanco said he remained optimistic about the company’s prospects.
“We’re positive. We’re very confident,” he said. “We hope that everybody sees the light.”
DigiPlus last week said that it would continue expanding internationally, with Brazil operations set to launch in September and plans being readied for a South Africa venture.
“We’re now preparing to enter South Africa,” Tanco told stockholders.
“We’re finalizing our license application to the Western Cape Gambling and Racing Board, where the majority of the global and local operators are licensed.”
He noted that South Africa had strict licensing processes, but said DigiPlus welcomed such standards.
“That’s exactly what we want because that’s exactly what we’re good at. [South Africa is] a market that values credibility and sustainability.”
As part of the requirements, DigiPlus will set up a local legal entity in South Africa, where foreign ownership and directorship are allowed under the country’s licensing rules.
South Africa’s online betting industry was valued at over 28.97 billion rand ($1.6 billion) in 2023 and 2024 and is projected to grow by up to five percent annually.
DigiPlus shares on Friday closed at P27.00 apiece, down by 0.92 percent.
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