Latest news with #BingoPlus
GMA Network
4 days ago
- 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
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
02-07-2025
- Business
- GMA Network
DigiPlus launching Brazil ops in September
Filipino digital gaming giant DigiPlus Interactive Corp. is all set to expand its presence in the global stage as it is targeting to go online in Brazil later this year. In a news release on Wednesday, DigiPlus —the company behind BingoPlus, ArenaPlus, and GameZone— said it is on track to launch its operations in one of Latin America's largest countries in September, which it expects to unlock a gaming market twice the size of the Philippines. In November last year, DigiPlus announced its wholly owned subsidiary, DigiPlus Brazil Interactive Ltda. passed the qualification stage for a federal license with Brazil's Ministry of Finance's Secretariat of Awards and Bets (SPA). In February, the internet gaming firm named industry specialist Graham Tidey as the country manager for its upcoming Brazil operations. With a population of over 200 million and internet penetration of nearly 90%, DigiPlus said Brazil is one of Latin America's fastest-growing gaming markets, with an estimated market size of $4.6 billion for internet gaming, citing a report from LCA Economic Consulting. The company said it will bring in a fresh line-up of live-streamed games, slots, table games, and exclusive self-developed digital entertainment content designed for local players in Brazil. 'We are excited to bring world-class entertainment to new markets, bringing the strengths and expertise that we have established in the Philippines," said DigiPlus chairman Eusebio Tanco. "Our entry into Brazil is part of our strategic expansion program to usher DigiPlus' next phase of growth," Tanco added. DigiPlus said its expansion to Latin America comes at a time when Brazil has implemented a structured legal framework for internet gaming. In 2024, Brazil's government formally approved regulations for both online betting and gaming, providing clear guidelines for licensed operators, consumer protections, and fair taxation, which paved the way for international players such as DigiPlus to enter the Brazilian market legally. —VAL, GMA Integrated News
