Philippine-listed licensed online gaming operator DigiPlus Interactive Corp is reportedly seeking to acquire a land-based casino in the country as part of a plan to diversify into brick-and-mortar gaming.
The Manila Standard cited an unidentified source saying DigiPlus was trying to balance its online operations with a physical gaming venue, amid ongoing regulatory uncertainties regarding the domestic online gaming segment.
The person told the media outlet that DigiPlus had already identified a target and discussions were ongoing, but such talks had recently stalled.
Last November, it was reported that DigiPlus was considering the acquisition of CasinoPlus, an online gaming provider that also holds a gaming licence for the Hotel Stotsenberg and Casino in Clark, about two hours north of the capital, Manila. At the time, DigiPlus said it had “no definitive plans” to proceed with the deal.
In the Philippines, DigiPlus is licensed to offer the digital entertainment platforms BingoPlus, ArenaPlus, and GameZone. In July, the company said it was “on track” to launch in September online gaming services in Brazil. The brand also said it aims to expand into South Africa.
In mid-August, DigiPlus reported first-half net income of PHP8.40 billion (US$146.9 million currently), up 60.9 percent from a year earlier. Total revenues for the six months to June 30 rose by 46.7 percent year-on-year, to nearly PHP47.78 billion.
The firm said such improvement was supported by “increased business activity and the rollout of new games and licences” approved by the nation’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).
Last month, members of the Philippines’ Senate began discussing stricter regulation of the country’s online gambling sector, including bills proposing a ban. Amid the public debate, the Philippines’ central bank ordered providers of electronic wallets (e-wallets) and other digital payment systems to remove links that provided access from their interfaces to online gambling platforms in the country.
Alejandro Tengco, chairman and chief executive of Pagcor, said last week that tighter control, not a total ban, should be the way forward regarding the nation’s online gambling sector.
“The iGaming story in the Philippines is no longer just about growth; it’s about how we grow safely, fairly, and sustainably,” Mr Tengco stated at the time.
“We support stricter regulations to protect our people, but we are against a total ban which will only drive players to illegal operators and result in loss of revenues and jobs,” he added.
Pagcor has stressed in a recent statement the importance of public revenue derived from legal online gaming activities in funding education, health care, and community development initiatives across the country.
