Gambling in the Philippines: DigiPlus says no definitive plan to acquire CasinoPlus
There has been speculation about an imminent deal that would change the Philippine online gaming industry.
The Philippines.- DigiPlus Interactive has stated in an announcement to the Philippine Stock Exchange that it has no definite plans to purchase the online gaming provider CasinoPlus. “Acquisitions have always been in the Company’s plan as part of its strategic expansion. However, there are no definitive plans at this time,” it said.
The statement comes after Bilyonaryo.com reported that the company was looking to buy CasinoPlus in a “mega-deal which could completely change the game for the Philippine online gaming industry”. According to the site, DigiPlus and Casino Plus would have a combined monthly revenue of PHP10bn (US$170.4m). As reported by GGRAsia, CasinoPlus possesses a gaming licence for the integrated resort (IR) Hotel Stotsenberg and Casino in Clark, two hours north of Manila.
DigiPlus’s results for the first nine months of the year showed net income of PHP8.85bn (US$159.3m), up 314 per cent when compared to the same period last year. The company attributed the growth to the performance of its digital retail segment combined with the introduction of new product offerings and cost efficiencies.
Revenue was up 223 per cent in year-on-year terms to PHP15.98bn (US$287.64m). EBITDA was up 271 per cent to PHP9.34bn (US$168.12m). For the third quarter, DigiPlus posted net income of PHP3.52bn (US$63.36m), up 247 per cent in year-on-year terms. Revenue was up 171 per cent year-on-year to PHP19bn (US$342m), mainly due to higher user traffic and new game offerings. EBITDA rose 206 per cent year-on-year to PHP3.83bn (US$68.94m).
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Eusebio Tanco, DigiPlus chairman, said: “As DigiPlus increasingly reaches steady-state growth coming from exponential expansion since our digital pivot in 2022, we intend to cement our market leadership through focused research and development efforts to strategically develop culturally relevant games that resonate with Filipino audiences.”
In September, DigiPlus launched Pinoy Drop Ball, the first live-streamed dropball in the country. It also introduced Super Ace Jackpot, a new electronic gaming product.
