Philippine gaming platform DigiPlus Interactive Corp has announced that it is reorganizing its structure by acquiring a 100-percent stake in a non-direct subsidiary: Gamemaster Integrated Inc.
The deal involves some 1.25 million shares, at a value of PHP100 per share – totaling nearly PHP125 million ($2.2 million). The shares are to be acquired from a subsidiary of its AB Leisure Global Inc, in itself a wholly-owned subsidiary.
The group notes that Gamemaster ‘will develop and operate DigiPlus’ new digital gaming platform, which will offer a variety of card games for users’.
Regarding the restructuring itself, the group notes that it ‘aims to streamline DigiPlus’ portfolio by consolidating its digital gaming platforms into direct subsidiaries to enhance synergies and efficiencies across its digital ecosystem’.
The group also notes that it is ‘expanding its product offerings to cater to a broader range of demographics and lifestyle preferences’.
The group recently made the news over a reported revamp of a casino project on the island of Boracay – one dispelled by Galaxy, its former partner in the project.
DigiPlus recorded a 51 percent quarterly profit increase in 2Q23, at $11.6 million.