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HomeNewsPhilippinesDigiPlus clarifies: no plan to buy CasinoPlus

DigiPlus clarifies: no plan to buy CasinoPlus

DigiPlus Interactive Corp. clarified that there are ‘no definitive plans at this time’ to acquire CasinoPlus, according to a statement released to the Philippine Stock Exchange on Monday.

CasinoPlus, an online gaming provider regulated by the Philippine Amusement and Gaming Corp. (PAGCOR), holds a gaming license for its integrated resort (IR), the Hotel Stotsenberg and Casino in Clark, which is currently under renovation.

DigiPlus, formerly known as Leisure & Resorts World Corp., was previously linked to a casino resort proposal on Boracay Island until October 2023. The company has since rebranded as a holding firm with investments in the gaming and leisure sectors, such as digital bingo and a digital sportsbook platform.

In light of recent regulatory changes, licensed land-based casinos and integrated resorts are permitted to offer online gambling to registered members within the Philippines. However, these online games must be linked to physical gaming machines or tables at brick-and-mortar casinos, differentiating them from conventional server-based online gaming.

The clarification from DigiPlus came after Bilyonaryo.com reported that the company was preparing to acquire CasinoPlus. The report speculated that if the deal were to proceed, the combined monthly revenue of the two entities could reach PHP10 billion ($170.4 million). It also noted that discussions between DigiPlus and CasinoPlus had been “smooth” due to overlapping investors.

In its statement, DigiPlus emphasized: ‘Acquisitions have always been part of the company’s strategic expansion plan. However, there are no definitive plans at this time.’

DigiPlus Interactive

Robust performance

As per its third-quarter earnings report dated November 11th, DigiPlus posted a net income of PHP8.75 billion ($149 million) for the first nine months of 2024, reflecting a surge of 314 percent year-on-year. Revenues increased 223 percent to PHP51.56 billion from PHP15.98 billion in the previous year, while EBITDA rose 271 percent to PHP9.34 billion from PHP2.52 billion.

DigiPlus also holds a majority stake in First Cagayan Leisure and Resort Corp., which oversees the licensing and regulation of interactive gaming businesses under the Cagayan Economic Zone Authority (CEZA). CEZA has been issuing interactive gaming licenses since 2001.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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