A well-known brand in the Philippines’ gaming and entertainment sector, DigiPlus Interactive Corp., has formally denied rumors that it is close to purchasing the online casino gaming CasinoPlus. While acquisitions are in line with the firm’s long-term strategic expansion, “there are no definitive plans at this time” to pursue a deal with CasinoPlus, the company clarified in a statement filed with the Philippine Stock Exchange on Monday.
DigiPlus responds to rumors for Casino Gaming CasinoPlus:
Following a story by Bilyonaryo.com that stated DigiPlus was preparing to acquire CasinoPlus, an online gaming operator governed by the Philippine Amusement and Gaming Corp. (PAGCOR), the correction was made. According to the article, if the deal goes through, it may bring in a total of PHP10 billion (about USD 170.4 million) every month.
About two hours north of Manila, in Pampanga, CasinoPlus runs the Hotel Stotsenberg and Casino in Clark, an integrated resort undergoing renovations. The resort is able to provide online gambling in accordance with the Philippines’ new legal framework because it has a gaming license from PAGCOR.
Purchases within the larger plan with Casino Plus
DigiPlus reaffirmed that acquisitions continue to be a crucial component of its strategic roadmap, even though it rejected any immediate ambitions to purchase CasinoPlus. In an official statement, the corporation stated that acquisitions have always been a component of its strategic expansion plan. But as of right now, there are no firm plans.
Formerly known as Leisure & Resorts World Corp., DigiPlus has experienced major changes in recent years, according to GGRAsia. The company has now rebranded itself as a holding corporation with varied investments in gaming and leisure areas after previously being linked to proposals for a casino resort project on the well-known tourist destination of Boracay Island until October 2023.
DigiPlus: Innovating in Digital Casino Gaming
Among its many ventures, DigiPlus has made a name for itself in the digital gaming space with items including a betting platform and digital bingo. The company’s dedication to staying competitive in the fast-paced Philippine gaming industry is demonstrated by its ongoing focus on innovation.
The Philippines’ gambling industry’s regulatory environment has changed recently, giving authorized land-based casino operators the chance to enter the online gaming market. Only members who have registered in the Philippines are currently able to access these online offers, and the games have to link directly to actual gaming machines or tables in a licensed facility.
CasinoPlus: Bridging Casinos & Digital
By guaranteeing adherence to PAGCOR standards and setting these services apart from traditional online gaming formats that solely rely on virtual servers, this framework seeks to preserve a direct connection between traditional casino operations and digital platforms. With its PAGCOR license, CasinoPlus has taken advantage of this chance, laying the groundwork for its continued expansion at the Hotel Stotsenberg and Casino.
DigiPlus’s increasing impact in the gaming and leisure industry is reflected in its recent financial results. In its third-quarter results report, which was made public on November 11, 2024, the corporation reported a net income for the first nine months of 2024 of PHP8.75 billion, or almost USD 149 million. When compared to the same period in 2023, this number shows an astounding 314% growth.
DigiPlus Sees 223% Revenue Growth
DigiPlus’ success was further demonstrated by its revenue data, which showed a 223% rise in revenue from the previous year to PHP51.56 billion. A notable increase was also observed in earnings before interest, taxes, depreciation, and amortization (EBITDA), which increased 271% from PHP2.52 billion in 2023 to PHP9.34 billion in 2024.
With an 87.27% interest in First Cagayan Leisure and Resort Corp., the company’s dominant ownership further contributes to its success. Under the Cagayan Economic Zone Authority (CEZA), which has been granting licenses for interactive gaming since 2001, First Cagayan is a key player in licensing and overseeing interactive gaming enterprises.
